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How to save money
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Can’t Afford Music Festival Tickets? Here’s 10 Ways To Save Money This Year

Are you looking for tips on how to save money? Do you find yourself constantly complaining about not being able to afford shows each year? If so, then you're in the exact place you need to be!

Often times, when people tend to read about living an ultra-frugal and penny pinching life, they will stop reading. We're here to say that saving is an essential part of your life and it can be done without drastically changing your life. Saving allows us to save for a rainy day, attend more music festival tickets and save for things in the future (example: college tuition for your kids).

While we're not telling you to start cutting your own hair, this article is intended to give you some actionable and easy ways on how to save money.

10 Actionable Ways On How To Save Money

Saving Money Tip #1: Automate your finances

Setting up automatic savings is the easiest and best way to save. Automatic savings puts more money in your entertainment budget and is ‘out of sight, out of mind.' We recommend telling your employer to deduct a certain amount from your paycheck each pay period and put it in a savings account of yours. If you can manage to put 5-10% in a savings account each pay period, you will consistently build your savings while not even noticing money is missing from your checking account. Ask your HR rep on how to set this up.

You can also have your band or credit union transfer a fixed amount from your checking account to a savings account.

Another way to automate your finances is to automatically invest your spare change. Apps like Acorns and Betterment were designed to automatically save and invest small amounts of your money into a diversified portfolio of stocks. How do these apps work? If you were to buy lunch for $8.70 one afternoon, these app will automatically round up your lunch expense to $9. It went then automatically place the 30 cents into a savings account which will be invested into the stock market.

Saving Money Tip #2: Establish a budget

One of the easiest ways to save more money is by establishing a well thought out budget. On the first day of a new month, get a receipt for everything you purchase. Stack those receipts into categories like groceries, personal care and restaurants. At the end of the month you will be able to see where you're money is going and where you should reduce your spending habits. You can also download an app called Mint, which makes staying on top of your finances easier than ever.

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Saving Money Tip #3: Think before you buy

Even though Amazon has made it ridiculously easy to buy something on the fly, try to resist the temptation. In fact, avoiding instant gratification is one of the most important rules of personal finance. We recommend waiting 30 days to decide on a purchase rather than buying it on the spot. Often times, after a month has passed, you'll find that the urge to buy the product has passed as well.

Saving Money Tip #4: Cut out your daily latte

Do you find yourself going to Starbucks every day to buy a cup of coffee? Today, most Starbucks drinks cost roughly $5 per drink. At $5 per day and 365 days in a year, you will have spent $1,825 on Starbucks alone. On the flip side, if you were to buy a Keurig for $94 and bought 365 days worth of Keurig K-Cups, you'd be looking at a total of $248 for the year. This is a savings of $1,577 in just one year.

Saving Money Tip #5: Monitor your subscriptions

Do you receive emails to your favorite store for its weekly deals? Avoid the urge to buy something by simply unsubscribing to this store's newsletters.

In addition to monitoring your email subscriptions, we also recommend monitoring your paid subscriptions. With Truebill, you can find, track and cancel your paid subscriptions. So if you're paying for Tidal, but only use your Spotify account, Truebill will let you know that it may be worthwhile to cancel certain paid accounts.

Saving Money Tip #6: Negotiate your rent

One thing you may not realize is that your rent is not a fixed expense. Just like your bills, rent can be negotiated and even lowered too. Before calling up your landlord, we recommend coming up with a goal in mind of how much you'd like to reduce your rent by. If you were to tell your landlord “I want to pay you $300 less each month,” you may be laughed off.

Here's a couple of things the landlord will happily lower rents for:

  • Sign an extended lease
  • Prepay months in advance
  • Offer to extend your termination notice from 30 to 60 days
  • Offer to give up your parking space
  • Promise not to smoke in your place
  • Make a deal for referrals if the unit has a low occupancy

Saving Money Tip #7: Pay off your debt

Paying off your credit card debt in full is one of the best ways to Monitor your expenses. If you have too much debt to pay off now, we recommend trying to reach of goal of $1,000 debut reduction. Over the course of a year, $1,000 in debt reduction will save you roughly $150 to $200 in interest alone. This is almost the cost of most shows.

Saving Money Tip #8: Save your tax refunds

Even though it's tempting to spend your tax refunds right away, this is a great stepping stone to more financial freedom. We recommend placing the majority of your tax refunds into a savings account.

Saving Money Tip #9: Volunteer

Want to attend a shows for free? Most shows are in dire need of volunteers for all different tasks at the event. In exchange for volunteering, most festivals will actually offer free admission in exchange for work. While the volunteer positions may go quickly, this one of the best ways to get to shows on the cheap.

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Saving Money Tip #10: Buy tickets early

Most music festivals will offer an early-bird special, where the earlier you buy your ticket, the cheaper it is. Tickets are usually the cheapest before the lineup has even been announced. So if you know it's a desirable music festival, we recommend buying your tickets as early as possible!

We hope these tips will help you save more money this year and we hope to see you at all of the events that you couldn't afford before!

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