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Planning an Affordable Trip For a Concert

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Cheap travel

As I’ve mentioned before, I’m not a huge fan of travel. However, one of my favorite bands (the Jonas Brothers) is going on tour this month and is playing a show a few hours away from me. I’ve never gotten to attend one of their concerts before and this one seems like a must-see. They’re planning to cover a lot of their discography and play material from five different albums.

But I didn’t want to go unless I could do it on a budget. So I challenged myself to see how little I could spend on this trip to Detroit to see them. Here’s a rundown of how I’m cutting costs.

Buying Tickets At Face Value

After the unprecedented demand for Taylor Swift’s Eras Tour, I was a little nervous I wouldn’t be able to snag tickets at face value. Luckily it seems like the Jonas Brothers aren’t quite as popular as Taylor, because I had no problems checking out and securing some affordable seats during the fan presale a few months ago. I got two lower-bowl tickets for my partner and I for $200 with taxes and fees included. I considered that a win after having to spend $800 for resale Eras tickets in the nosebleeds.

Getting My Hotel For Free

Since Detroit is a few hours away, I had to book a hotel room for the night. I was able to get my hotel room for free by signing up for a Marriott Bonvoy credit card.

There was a sign-up offer for a $300 gift card upon approval, which covered the cost of my stay. I haven’t gotten a new credit card in over a year and didn’t have too many hard inquiries on my credit report, so I felt comfortable with this decision.

Although this may be a controversial take, I don’t think credit cards are inherently bad. If you pay off your balance every month, credit cards can even offer some valuable perks like the sign-up bonus I received.

It’s nice to get cash back for purchases I’d make anyway, such as filling up my car and buying groceries. The points I earn make it easier to fit experiences like this concert into my budget without compromising my debt payoff goals.

Road Tripping and Packing Food

Of course, my partner and I are driving down to Detroit since it’s only a few hours away. We decided to leave the morning of the concert so we only have to stay for a night. We’re also going to make sure to pack plenty of food and drinks in our cooler so we don’t have to eat out.

We’re also fortunate that a family member is willing to watch our dog, so we won’t have to pay to board him. Overall, it should be a pretty affordable (albeit short) trip.

Do you budget for things like trips and concerts while paying off debt? Or are you going gazelle intense and delaying these types of experiences until you pay off your loans? Let me know which approach you think is best in the comments.

Read More 

Can we make it on $50?

Keeping Costs Down on Our Road Trip

Splurging On Concert Tickets And Going Easier On Myself

Pay Off Your Debt Quickly With These 11 Strategies

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Debt can be very stressful and heavy when one has no plan. Clearing debt as fast as possible is a smart financial move that leads to peace of mind and financial freedom. Below is a list of strategies to help you achieve financial freedom.

1. Create a Budget

You need to start by curating a very comprehensible budget that helps you track your revenues and expenditure. Assess and identify areas where you need to cut back and allocate more funds toward paying off debts.

2. Cut Expenses

Having a luxurious life at the cost of being in debt is not a smart financial strategy. Learn to live within your means and avoid spending on things you don’t need. To quickly pay off your debts, review your current budget, identify areas where you can reduce your expenditure, and learn to manage your finances.

3. Avoid New Debt

Have a list outlining all your arrears. Plan how you plan to clear them. At all costs, when repaying existing debts, don’t make the mistake of taking up new ones, as it’ll only worsen and strain your financial situation. Stay focused on your goal of clearing your debt.

4. Use the Snowball Method

This is an effective method where you start clearing the small loans first and then making incremental payments towards your huge debts. Once you clear the small loans, roll over the amount to the next small loan and keep doing that. The result is a snowball effect that’ll ultimately knock off all your debts.

5. Use the Avalanche Method

The avalanche method involves first paying debts with the highest interest rates. You first focus on clearing these high-interest loans off as you make small payments to those with the lowest interest.

6. Sell your Assets

MarketWatch estimates that in September 2022, the sales for luxury vehicles made up about 18% of new cars sold. If you have a second car you don’t need, or a luxury car that’s costing more to maintain, sell it. Also, consider other items in your house you have no use for, such as electronics and collectibles. Sell them and use the proceeds to clear some of your debts.

7. Increase your Income

About 18% of your utility bill is associated with water heating, according to Energy.gov, making it the second-highest expense in your home. Looking for new sources of income can help mitigate some of these expenses. Some ideas you can consider are a part-time job, freelancing, or selling household items you may not need. Set aside one income to sort utilities and the other to save or clear off debts.

8. Use Windfalls Wisely

If you get discretional bonuses, gifts, or tax refunds, resist the urge to spend that money at all costs. With the U.S. Department of Energy claiming that heat loss and heat gain through your windows accounts for 20 to 35% of your household energy consumption, it pays to find ways to mitigate this expense. You’ll have enough to settle your energy utility bill by diverting this extra money towards debt repayment.

9. Join a Debt Management Program

Enroll in a program that helps with debt management offered by various credit counseling agencies. They can help you manage and create a favorable payment plan and negotiate with creditors. On negotiation, if you have a good track record of repayment, they can help you negotiate lower interest rates. As a result, more of your payments will go to clearing the principal balance and not paying off accrued interests.

10. Debt Consolidation

Consider combining your higher-interest loans into one or using a single credit card with lower interest rates. This is a smart way to streamline your payments while saving you money on accrued interest.

11. Stay Motivated

When paying off arrears or loans, staying focused can take a lot of work as extra expenses always arise. Stay focused on your goal, celebrate milestones you may have set for each debt paid, and maintain the discipline required to regain your financial freedom and peace of mind.

Select a method that works for you and align it with your goals, considering your financial situation. Stay consistent, stay focused, and be patient. Over time, you’ll see genuine progress as you inch closer to the other side of debt – financial freedom!