Understanding Football-Related Spending: Insights and Tips

Football season is upon us, and with it comes the excitement of game days, tailgating, and cheering for our favorite teams. However, have you ever considered how much you spend on football-related activities? A recent survey by Experian sheds light on the financial habits of football fans and offers some valuable insights.

Average Spending on Football

According to Experian’s survey, football fans expect to spend an average of $743 on football-related expenses throughout the 2023 season. This includes everything from pregame tailgating to attending live games. While some fans plan to maintain their spending levels from the previous year, a significant portion (32%) intends to cut back on their expenses this season.

Inflation and Rising Costs

It’s no surprise that inflation has impacted the cost of attending sporting events. As of August 2023, the consumer price index indicates that overall inflation has subsided to 3.7%. However, admission to sporting events has increased by 7.2% over the same period. Additionally, credit card interest rates have climbed to an average above 22% APR, adding to the financial pressure on fans.

Debt and Football Fandom

Experian’s survey also revealed that some football fans are willing to go into debt to support their favorite teams. About 1 in 5 fans said they would take on a $5,000 debt to see their team win a championship. On the flip side, 33% of fans would eliminate their outstanding debt in exchange for their favorite NFL team not winning a championship for another 20 years.

Payment Methods

When it comes to paying for football-related expenses, nearly one-third (32%) of fans will exclusively use cash or debit cards. In contrast, 21% will rely solely on credit cards. The remaining fans will use a mix of both payment methods or do not expect to have any football-related expenses this season.

Impact of Inflation on Spending Habits

Inflation has influenced the spending habits of many football fans. Most fans plan to watch more games at home this season, with only 14% stating that rising costs won’t affect their football-based spending. Additionally, 30% of fans expect to reduce their attendance at live games, either by purchasing cheaper tickets or forgoing game attendance altogether.

Tips for Managing Football-Related Expenses

Regardless of how much you plan to spend on football this season, it’s essential to keep your spending in check. Here are some tips to help you manage your football-related expenses:

• Set a Budget: Determine how much you can afford to spend on football-related activities and stick to it.
• Use Cash or Debit Cards: Avoid accumulating debt by using cash or debit cards for your purchases.
• Look for Deals: Take advantage of discounts and promotions on tickets, merchandise, and food.
• Watch Games at Home: Save money by watching games at home instead of attending live events.
• Plan Ahead: Plan your expenses in advance to avoid impulsive spending.

O1ne Mortgage: Your Partner in Financial Management

At O1ne Mortgage, we understand the importance of managing your finances effectively. Whether you’re looking to refinance your home, purchase a new property, or need advice on managing your mortgage, we’re here to help. Our team of experts is dedicated to providing you with the best mortgage solutions tailored to your needs.

Don’t let financial stress overshadow your football season. Contact O1ne Mortgage today at 213-732-3074 for all your mortgage service needs. Let us help you achieve your financial goals while enjoying the excitement of football season.

Conclusion

Football season is a time of excitement and camaraderie, but it’s essential to be mindful of your spending habits. By setting a budget, using cash or debit cards, and planning ahead, you can enjoy the season without compromising your financial well-being. Remember, O1ne Mortgage is here to support you with all your mortgage needs. Call us at 213-732-3074 to learn more about our services and how we can help you manage your finances effectively.

Enjoy the game, and let’s make this football season a financially savvy one!