Friday, March 31, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

A third of Americans may go into debt from sports spending

by Euro Times
October 2, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Americans are willing to spend a good amount of money on their favorite sports teams. Tickets for Super Bowl LVI sold for an average of around $9,500, according to TicketIQ, for example.

And this fall, 33% of Americans are anticipating going into debt after splurging on their favorite teams.

That’s according to financial services company LendingTree, which surveyed 1,578 Americans about how much they are planning, and willing, to spend on sports this fall.

“Americans love, love, love their sports, and we aren’t afraid to spend money on it,” Matt Schulz, LendingTree chief credit analyst, says in the report.

On average, sports fans plan to spend $664. However, it differs by age. Here’s the average amount Americans plan to spend on their favorite sports teams, by generation:

  • Generation Z (ages 18 to 25): $464
  • Millennials (ages 26 to 41): $645
  • Generation X (ages 42 to 56): $827
  • Baby boomers (ages 57 to 76): $641

Millennials are the generation most likely to drop money on sports, with about 50% planning to spend, LendingTree finds. About a quarter of them will be putting their cash toward live tickets.

While fun, too many splurges can lead to long-term consequences. About 42% of both Gen Z and millennials anticipate going into debt due to sports-related expenses, while just 11% of boomers expect to.

And those who earn less are more likely to take on debt. Of respondents who make less than $35,000 a year, 44% are expecting debt from sports spending, while only 28% of six-figure earners have the same fear.

Only a small number of Americans — 8% — plan to engage in sports betting, and 7% will spend money on fantasy teams. However, the stakes may be high: 33% of respondents who plan to gamble say they’ll spend over $1,000.

But this debt is not necessarily all bad. “Done wisely and in moderation, sports betting can be an amazing, fun thing,” Schulz says. “Fantasy football leagues, March Madness brackets, Super Bowl pools and trips to Vegas with family and friends can be fun and lucrative — and create memories that last a lifetime.”

Debt is usually looked at as a negative thing, but Schulz says it can sometimes be OK if it allows you to have a once-in-a-lifetime experience.

However, it’s important not to take it too far. If you use a credit card to pay for any sports-related spending, aim to pay the card off in full every month to avoid taking on debt and accruing interest.

Sign up now: Get smarter about your money and career with our weekly newsletter

Don’t miss: 37-year-old self-made millionaire: Don’t retire early before you consider these 2 things



Source link

Tags: AmericansDebtSpendingsports
Previous Post

TEAMSTERS STRIKE SYSCO BOSTON – Stocks News Feed

Next Post

Barabak: Why House is likely to flip but Senate’s a toss-up

Related Posts

Sensex, Nifty open higher aided by financials, IT stocks

by Euro Times
March 31, 2023
0

BSE Sensex and NSE Nifty were off to a positive start on Friday, aided by high weightage information technology (IT)...

Shaw Communications stock gains ahead of walk deadline for Rogers deal

by Euro Times
March 30, 2023
0

JHVEPhoto/iStock Editorial via Getty Images Shaw Communications (NYSE:SJR) rose almost 1% ahead of a Friday deadline for the parties to...

upi: NPCI chief says basic UPI services will remain free

by Euro Times
March 30, 2023
0

Kumarakom: The basic UPI services will continue to remain free, and India will reach an agreement with some of the...

Apple wins U.S. appeal over patents in $502 million VirnetX verdict By Reuters

by Reuters
March 30, 2023
0

© Reuters. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th...

Constellation Brands taps Tastemade to help draw new customers

by Euro Times
March 30, 2023
0

Constellation Brands is pouring into the streaming business.The company, which owns beer, wine and spirits brands, is forming a partnership...

China’s Central Bank Pumps More Liquidity Into Market

by Euro Times
March 30, 2023
0

CGinspiration By Iris Pang, Chief Economist, Greater China The People's Bank of China has already cut its Required Reserve Ratio...

Next Post

Barabak: Why House is likely to flip but Senate's a toss-up

2022 is exposing 'freaky post-QE financial system plumbing,' BofA says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Sensex, Nifty open higher aided by financials, IT stocks

March 31, 2023

Japan to restrict chipmaking equipment exports as it aligns with U.S. China curbs By Reuters

March 31, 2023

private equity firms india: PE funds opting for a locked-box mechanism for high-value transactions

March 31, 2023

Discount Window, Central Bank Liquidity Swaps, Bank Term Funding Program (BTFP), “Other credit extensions”, and “Foreign Official”. – Investment Watch

March 31, 2023

SEC Needs New Tools, Expertise, and Resources to Regulate Crypto Industry – Regulation Bitcoin News

March 31, 2023

South Korea passes the K-Chips Act to boost the country's semiconductor industry by increasing tax credits for companies investing in manufacturing facilities (Bloomberg)

March 31, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Sensex, Nifty open higher aided by financials, IT stocks

Japan to restrict chipmaking equipment exports as it aligns with U.S. China curbs By Reuters

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In