“How Much Are Football Fans Spending This Season? Experian’s Insights”

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Experian Survey Reveals Football Spending Trends

Experian recently conducted a survey of 847 Americans to understand their football-related spending habits. The survey, carried out on August 21-22, 2023, was facilitated by a third-party company and did not utilize Experian’s consumer credit database.

Game Day Expenses: More Than Just Streaming Costs

While you might not need to worry about the cost of another streaming subscription if you tailgate on game day, have you considered the additional expenses for beer and brät this season?

To delve deeper into game day spending habits, Experian asked football fans about their expenditures for both pregame activities and during the game itself. This could range from snacks on the couch to season tickets at the stadium.

Average Spending on Football: $743 This Season

Experian’s findings show that fans expect to spend an average of $743 on football-related purchases throughout the 2023 season, whether it’s college, professional, or high school games. Most respondents indicated they would spend about the same as last year, although 32% plan to cut back on their spending this season.

Financial Pressures and Football Spending

Despite a decrease in overall inflation to 3.7% as of August 2023, the cost of attending sporting events has risen by 7.2%. Additionally, credit card interest rates have climbed to an average of over 22% APR, adding to the financial strain.

About 21% of respondents anticipate overspending on football this year, with 12% likely to go into debt to support their football enthusiasm. Some fans have even reported that their football spending has negatively impacted their credit scores.

Debt and Football Fandom

In another Experian survey of 3,200 consumers, 1 in 5 football fans said they would be willing to take on $5,000 in debt to see their team win a championship. Interestingly, 33% would prefer to eliminate their outstanding debt even if it meant their favorite NFL team wouldn’t win a championship for the next 20 years.

Payment Methods for Football Expenses

Nearly one-third (32%) of fans plan to use cash or debit cards exclusively for their football expenses, while 21% will rely solely on credit cards. The remaining respondents will use a mix of both or do not expect to have any football-related expenses.

Inflation’s Impact on Football Spending

Although inflation has slowed, its effects are still felt by many fans. Most plan to watch more games at home this season, with only 14% saying rising costs won’t affect their football spending. Additionally, 30% of fans expect to reduce their attendance at live games, opting for cheaper or fewer tickets or skipping games altogether.

Managing Your Football Spending

Regardless of how much you plan to spend, keeping your expenses in check can positively impact your credit score. Making on-time payments and maintaining low credit utilization can help you score financial points even when your team wins.

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