Spending and Festivals – Where does Your Money Go?

This year is a bit of an odd one for the UK’s festival scene. Once a landmark moment in the British summer, now it’s mostly cancelled due to current affairs. Still, this change won’t be a permanent one. Here, we explain what to expect from next year and what to do if you’ve purchased a ticket to one of many postponed festivals throughout the nation.

We spend an average of £67 a day at festivals

Last year, a report in the Independent revealed that festival-goers will spend around £1.2bn on these events. On average, people will pay £67 a day – often on food, merchandise, and on rides.

Food is the biggest expense – with an average spend of £46 a day

Perhaps not surprisingly, food is the largest expense at a festival. From that morning cup of tea to a filling dinner, festival-goers will hunt for all kinds of products to eat. Although you might think these people are shopping for ‘standard’ festival foods, it was quite common for respondents to dig into curries, kimchee, and other interesting meals. Five per cent of festival-goers even spent their money eating insects!

Retailers often use a festival to trial product ideas

These days, it seems we do most of our shopping online. However, festivals appear to be the exception here. Retailers apparently use these events to trial new products and get direct customer feedback.

With stores taking the opportunity to experiment, it’s possible you’ll never know entirely what you’ll find. Perhaps it’s no surprise that 80% of participants planned to buy unique items from festival retailers.

Can I get a refund on my festival ticket?

With so many festivals having to cancel this year, you’d likely want to get a refund. If you purchased a ticket to Glastonbury, for example, you would have paid £265 as well as a booking fee. That’s a lot of money for something you won’t be doing!

Getting a refund will largely depend on the festival you paid for. However, as some consolation, your ticket should still be valid for next year – when life has hopefully returned to something resembling normal.

Contact the festival organisers to find out if you can get a full refund. If you purchased your ticket through a reseller, however, getting your money back may be unlikely.

Restoring control over your finances

For the moment, it seems we don’t have much control over what happens with the UK festival scene. However, if you’re struggling to maintain command over your finances – with payments to creditors getting unmanageable – then it’s time to put your money back in your hands.

Using a debt solution called an IVA, we could freeze interest rates and ultimately write off large parts of what you owe. To find out more information about this agreement, and if you would be eligible, click on the button below:

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