PFT #85 - Personal Finance Tip of the Week: Purchasing Event Tickets and Parking

Even in times of rising inflation, people seem to be going out and spending money.

This is likely to occur for some time until things are too expensive and we fall into a recession or in stagflation state.

At the moment the world has a handle on Covid and entertainment venues are filling the seats.
So when going to an event, the question is: do you buy your tickets right away or do you wait? If it is a can’t miss, people will pay up.

If you decide to wait, there are many apps out there to buy tickets in the second hand market.
So for the next question: is it better to wait until to purchase tickets right up until the event occurs.

Typically this is a good strategy, but more so when the event is not sold out as venues want to fill their seats.

Recently, I went to a baseball game on Memorial Day weekend and it turned out that it was less expensive to buy the seats at Will Call rather than through an app. This is because the demand was high.

As for sporting events, if the team stinks or you don’t mind showing up after it starts this will save you money.

Another strategy is to search for events straight through the venue as you can find packages that will include parking. We have found this to be advantageous.

We parked close to the building and saved money. There’s nothing like paying $60 bucks to park, right? The bottom line is that there is no right or wrong answer.

As for my wife and I, being spontaneous keeps life interesting - we hop in the car, find an event and we keep some of our money from going to the overpriced ticket brokers.

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Episode Transcript

(00:05):
Hello everyone, I am David andyou're listening to the personal finance Tip of
the Week, and this week's topicis about concert and sporting events and parking.
Even in times of rising inflation,people seem to be going out and
spending money. This is likely tooccur for some time until things are too

(00:29):
expensive or revoluntary recession or a stagflationstate. At the moment, the world
has a handle on COVID and entertainmentvenues are filling the seats. So when
going to an event, the questionis do you buy your tickets right away
or do you wait? If itis a can't miss event, people will
pay up now. If you decideto wait, there are many apps out

(00:52):
there to buy tickets in the secondhandmarket. Okay, So for the next
question, is it better to waitto purchase tickets right up to the event
occurs? Typically this is a goodstrategy, but more so when the event
is not sold out as venues wentto fill their seats. Recently, I
went to a baseball game on MemorialDay weekend and it turned out that it

(01:14):
was less expensive to buy seats atthe will call rather through an app.
This is because the demand was high. As for sporting events. If the
team stinks like mine, or youdon't mind showing up after it starts,
this will save you money. Anotherstrategy is to search for tickets straight through
the venue, as you can findpackages that will include parking. We have

(01:38):
found this to be advantageous. Weparked close to the building and we saved
money. There's nothing like paying sixtybucks to park right. The bottom line
is that there is no right orwrong answer. As for my wife and
I, being spontaneous keeps life interesting. We hop in the car, find
an event, and we keep someof our money from going to the overpriced

(02:00):
ticket brokers. So that will doit for the personal finance tip of the
week. Until next time, Iam David