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Football Spending Habits: A 2023 Survey Analysis

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.

While you might not need to worry about the cost of another streaming subscription if you tailgate on game day, have you considered how much more the beer and brats will cost you this season?

Average Spending on Football in 2023

Experian’s survey revealed that fans expect to spend an average of $743 on football-related purchases throughout the 2023 season. This includes everything from snacks at home to season tickets. Most respondents indicated that their spending would be similar to last year, although 32% plan to spend less this season.

Financial Pressures and Football Spending

Despite overall inflation subsiding to 3.7% as of August 2023, the cost of attending sporting events has increased by 7.2%. Additionally, credit card interest rates have risen 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 fandom.

Debt and Football Fandom

In a separate survey of 3,200 consumers, 1 in 5 football fans expressed willingness 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 football-related 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.

Impact of Inflation on Football Spending

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

Regardless of how much fans plan to spend, managing expenses wisely can positively impact their credit scores. Making on-time payments and keeping credit utilization low are key strategies.

Contact O1ne Mortgage for Your Mortgage Needs

At O1ne Mortgage, we understand the importance of managing your finances effectively. If you have any mortgage-related needs, feel free to call us at 213-732-3074. Our team is here to help you navigate your financial journey with confidence.

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