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Football fans

Is football Euro-ding a hole in your pocket?

Any football fan worth their salt knows Euro 2016 is currently playing out in France. Football is one of the biggest and most popular sports in the world (if not the biggest) but have you ever wondered how much it costs to be a footy fan?

According to Post Office Money Credit Cards, football is the most costly sport to follow, with the average fan spending £276 in the last 12 months. However, the biggest spenders (the top one per cent) spent up to £5,000 on their love of the beautiful game.

Buying tickets is the most common expense, with 28% paying for entry, and 23% paying to travel to the event. More than one in ten (12%)  fans are even willing to pay extra for overnight accommodation. Food and drink and satellite TV packages are also popular pitfalls for sports fans’ purse strings.

How are you paying for your sport?

While more than six in ten (68%) people use their current account to cover costs, many turn to alternatives to feed their sporting passion. Over a quarter (27%) have used their credit card, and 18% have dipped into their savings. Borrowing money from friends or family (7%) or payday loans (6%) were also used to cover costs.

As with anything costly that you enjoy doing, the best approach is making sure you budget. Setting up a budget means you’re less likely to get into debt and get caught out by unexpected costs, and more likely to be able to spot areas where you can make savings – so even if your team isn’t winning, you can be!

Put simply, budgeting is one of the best things you can do to help you manage your money. You’ll need to work out how much you spend on various things like household bills, family and friends, and leisure (including sports event tickets). Then it’s a case of pinpointing your biggest areas of spend.

 

If you find you’re spending more than you have coming in, it doesn’t mean you have to stop doing all the things you like. Sometimes it’s just a case of looking at where you can spend less – household bills for example.

 

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