Latest news with #AkanshaNath
The Independent
27-05-2025
- Business
- The Independent
Festival season: How to keep costs down this summer at Brockwell, Glastonbury and more
As people continue to look for ways to save money, festival season can make what should be an exciting time somewhat daunting. Over a third of festival-goers have had to dip into their savings to pay for tickets this year, new data has revealed, as costs for both luxuries and essentials continues to rise. According to exclusive data shared with PA from Credit Karma, which was taken from an Opinium survey of 2,000 UK adults this month, 35 per cent of those attending festivals have used savings to pay for tickets. Akansha Nath, general manager at smart money platform Credit Karma, says that festivals can be expensive for a number of reasons, including the price of tickets. Credit Karma's research also found that 61 per cent of festival-goers say that increasing ticket prices have gone too far. Expenses such as transport, food and drink, and outfits are also mounting up, with 76 per cent of people saying these costs are all increasing. Nath added: "There are also social factors too, as people are keen to avoid 'FOMO' – fear of missing out. Three in 10 festival-goers feel pressure to attend festivals purely because their friends are going – particularly Gen Zs." Founder of ticket resale platform Twickets, Richard Davies adds that festivals have 'become big businesses' and costs behind the scenes reflect that. 'From artist fees and production to infrastructure, security and licensing – everything is now more expensive,' he says. 'Luckily there are festivals for all types of budgets, so fans can choose a one-day event or a festival that's four days with accommodation, depending on how much they want to spend.' Davies and Nath both share a number of ways that festival-goers can cut back on expenses as festival season approaches: 'Volunteering at festivals is a great way to get your ticket for free, in exchange for working a few shifts,' Nath says. 'Sites like My Cause UK and Oxfam can help you find available volunteer opportunities.' 'You can also sometimes get free meals and camping upgrades from volunteering,' Davies adds. 'Therefore, it's worth asking the organisers what the options are.' Buy and resell tickets Davies says that buying or reselling tickets can also help. 'If you missed out on the original sale for your favourite festival, set up alerts on the Twickets app to be notified as soon as any resale tickets become available,' he says. 'You can also bargain with the seller if the ticket is labelled 'accepting offers', to secure a fair price.' Pay in instalments 'Another way to cut costs is by using instalment-based payment schemes or credit that can split the cost of tickets across several months – whether that's using credit cards, Buy Now, Pay Later credit, or the festival's own payment instalment service,' Nath says. 'However, remember not to overcommit or take on more debt than you can afford to pay back.' Shop in charity shops 'Shopping in charity shops and from second-hand sites like Vinted is a great way to get festival outfits on a budget, and you can also take advantage of these to sell your outfit after the occasion,' Nath adds. Go prepared 'People should also ensure they are prepared – festival food and drink is notoriously expensive so pack a cooler box full of long-life food to keep you full throughout the weekend,' she says. 'Coffee vans will often give out free hot water if you need to mix it into your porridge or instant noodles.' Charge for free Davies adds that you can charge your devices for free, by bringing a pre-charged power bank or a solar-powered charger to the festival. When your phone runs out of battery, often the only option is to use phone charging stalls at festivals which can eat into your budget. Bringing your own charging bank saves money and some festivals even offer free eco-charging points if you bring your own lead.' Prioritise main events 'To make the most of your money and to avoid 'festival regret', prioritise events you will get the most out of, rather than giving in to pressure from friends. Many festivals offer single-day tickets so you can choose to just attend the day your favourite artists are on for a reduced cost.' 'Its always worth downloading the festival app when you arrive as some events offer discounts or freebies, surprise giveaways or share food stall deals,' Davies says. 'Keep your notifications on and check daily for the chance to save money. The festival's official app should also have useful resources like maps and timetables, to ensure you can plan your day and not miss out on the artists you really want to see.' 'With preparation and planning, there's no reason your festival fun should be limited this summer,' Nath says. 'Just remember to prioritise the events you most want to go to, set a careful budget and don't commit to more than you can afford.'
The Independent
23-05-2025
- Entertainment
- The Independent
How to keep costs down at a festival
Festivals can be an expensive day out for people, and with the current economy and people trying to cut back, finding ways to save money is important. Exclusive data shared with PA from Credit Karma, taken from an Opinium survey of 2,000 UK adults this month, found more than a third (35%) of festival-goers have dipped into their savings to pay for tickets this year. Why are festivals expensive? General manager at smart money platform Credit Karma, Akansha Nath, says that festivals can be expensive due to a number of reasons – including the price of tickets. Credit Karma's new research shows that three in five (61%) festival-goers say that increasing ticket prices have gone too far. Festival-related expenses like transport, food and drink, and outfits are also mounting up, with three-quarters (76%) of people saying these costs are all increasing. 'There are also social factors too, as people are keen to avoid 'FOMO' – fear of missing out,' Nath says. 'Three in 10 festival-goers feel pressure to attend festivals purely because their friends are going – particularly Gen Zs.' Founder of ticket resale platform Twickets, Richard Davies adds that festivals have 'become big businesses' and costs behind the scenes reflect that. 'From artist fees and production to infrastructure, security and licensing – everything is now more expensive,' he says. 'Luckily there are festivals for all types of budgets, so fans can choose a one-day event or a festival that's four days with accommodation, depending on how much they want to spend.' Davies and Nath both share a number of ways that festival-goers can cut back on expenses as festival season approaches. Volunteer 'Volunteering at festivals is a great way to get your ticket for free, in exchange for working a few shifts,' Nath says. 'Sites like My Cause UK and Oxfam can help you find available volunteer opportunities.' 'You can also sometimes get free meals and camping upgrades from volunteering,' Davies adds. 'Therefore, it's worth asking the organisers what the options are.' Buy and resell tickets Davies says that buying or reselling tickets can also help. 'If you missed out on the original sale for your favourite festival, set up alerts on the Twickets app to be notified as soon as any resale tickets become available,' he says. 'You can also bargain with the seller if the ticket is labelled 'accepting offers', to secure a fair price.' Pay in instalments 'Another way to cut costs is by using instalment-based payment schemes or credit that can split the cost of tickets across several months – whether that's using credit cards, Buy Now, Pay Later credit, or the festival's own payment instalment service,' Nath says. 'However, remember not to overcommit or take on more debt than you can afford to pay back.' Shop in charity shops 'Shopping in charity shops and from second-hand sites like Vinted is a great way to get festival outfits on a budget, and you can also take advantage of these to sell your outfit after the occasion,' Nath adds. Go prepared ' People should also ensure they are prepared – festival food and drink is notoriously expensive so pack a cooler box full of long-life food to keep you full throughout the weekend,' she says. 'Coffee vans will often give out free hot water if you need to mix it into your porridge or instant noodles.' Charge for free Davies adds that you can charge your devices for free, by bringing a pre-charged power bank or a solar-powered charger to the festival. When your phone runs out of battery, often the only option is to use phone charging stalls at festivals which can eat into your budget. Bringing your own charging bank saves money and some festivals even offer free eco-charging points if you bring your own lead.' Prioritise main events 'To make the most of your money and to avoid 'festival regret', prioritise events you will get the most out of, rather than giving in to pressure from friends. Many festivals offer single-day tickets so you can choose to just attend the day your favourite artists are on for a reduced cost.' Use festival apps for deals 'Its always worth downloading the festival app when you arrive as some events offer discounts or freebies, surprise giveaways or share food stall deals,' Davies says. 'Keep your notifications on and check daily for the chance to save money. The festival's official app should also have useful resources like maps and timetables, to ensure you can plan your day and not miss out on the artists you really want to see.' Is it still possible to enjoy a festival on a budget? 'With preparation and planning, there's no reason your festival fun should be limited this summer,' Nath says. 'Just remember to prioritise the events you most want to go to, set a careful budget and don't commit to more than you can afford.'
Yahoo
27-04-2025
- Business
- Yahoo
Gym, skincare and streaming among ‘essentials' for some Gen-Z adults
Many Gen-Z adults consider gym membership, skincare treatments and streaming services to be essential bills, a survey indicates. Nearly three in 10 (27%) 18 to 24-year-olds consider gym membership to be an essential, while a quarter (25%) deem streaming services to be a necessity to meet their basic standard of living, according to the research published by Intuit Credit Karma. New clothes (25%), skincare and beauty treatments (22%) and socialising (30%) also made the list of unavoidable expenses among young adults. The research indicated that, across all age groups, many adults are expanding their perceptions of 'essentials' beyond bills such as utilities and groceries, to include maintaining their overall wellbeing. A quarter (24%) of adults surveyed across all age groups consider that spending money to look after their mental wellbeing is as important as 'traditional' essential expenses such as food and housing, rising to 39% among 25 to 34-year-olds. Three in 10 (30%) people surveyed in this age group agreed that investing in their physical health is a non-negotiable. Across all adults surveyed, one in seven (14%) said they would rather reduce their long-term savings than give up certain lifestyle expenses. Akansha Nath, general manager (international) at Intuit Credit Karma, said: 'Gen-Z is redefining the meaning of essential spending, ensuring their emotional and physical health, and social needs are met too. 'However, this shift comes with financial trade-offs, with some adults taking on debt to maintain their lifestyle. Tools like credit monitoring and responsible borrowing can help ensure financial stability while maintaining your ideal standard of living.' OnePoll surveyed 2,000 people across the UK in March for the research. Sign in to access your portfolio
The Independent
27-04-2025
- Business
- The Independent
Gym, skincare and streaming among ‘essentials' for some Gen-Z adults
Many Gen-Z adults consider gym membership, skincare treatments and streaming services to be essential bills, a survey indicates. Nearly three in 10 (27%) 18 to 24-year-olds consider gym membership to be an essential, while a quarter (25%) deem streaming services to be a necessity to meet their basic standard of living, according to the research published by Intuit Credit Karma. New clothes (25%), skincare and beauty treatments (22%) and socialising (30%) also made the list of unavoidable expenses among young adults. The research indicated that, across all age groups, many adults are expanding their perceptions of 'essentials' beyond bills such as utilities and groceries, to include maintaining their overall wellbeing. A quarter (24%) of adults surveyed across all age groups consider that spending money to look after their mental wellbeing is as important as 'traditional' essential expenses such as food and housing, rising to 39% among 25 to 34-year-olds. Three in 10 (30%) people surveyed in this age group agreed that investing in their physical health is a non-negotiable. Across all adults surveyed, one in seven (14%) said they would rather reduce their long-term savings than give up certain lifestyle expenses. Akansha Nath, general manager (international) at Intuit Credit Karma, said: 'Gen-Z is redefining the meaning of essential spending, ensuring their emotional and physical health, and social needs are met too. 'However, this shift comes with financial trade-offs, with some adults taking on debt to maintain their lifestyle. Tools like credit monitoring and responsible borrowing can help ensure financial stability while maintaining your ideal standard of living.' OnePoll surveyed 2,000 people across the UK in March for the research.
Yahoo
27-04-2025
- Business
- Yahoo
Impulsive spending and sleepless nights fuel financial anxiety in UK
Financial worries and sleepless nights plague many Britons, with a third admitting that money anxieties keep them awake, according to a new survey by Intuit Credit Karma. The poll reveals a worrying trend of sleep deprivation and impulsive spending, painting a picture of a nation struggling to rest and manage their finances. The survey found that almost half of Britons (46 per cent) suffer from poor sleep at least three nights a week, averaging a mere 5.7 hours of shut-eye per night. This lack of sleep appears to be fueling impulsive spending habits, with one in five admitting to splashing out on non-essential items when tired. Food and takeaways are the most common impulse buys, with 15 per cent of respondents succumbing to late-night cravings. A further 9 per cent confess to purchasing unnecessary clothes and accessories, while 6 per cent each admit to buying unneeded technology or even booking holidays in an attempt to boost their mood after a restless night. Perhaps unsurprisingly, a third of those surveyed also confessed to being less inclined to hunt for bargains after a poor night's sleep. The link between financial anxieties and sleeplessness is starkly highlighted by the survey. While 32 per cent of respondents cited financial worries as the cause of their sleeplessness, a significant proportion also admitted to using their sleepless hours to engage in financially-focused activities. 21 per cent reported checking their bank balances, 15 per cent paid bills, and 12 per cent tracked expenses during the night. Credit Karma data showed that one million members have logged into their accounts between midnight and 6am in the last six months, while 9 per cent have checked their credit scores overnight. Akansha Nath, general manager for international at Intuit Credit Karma, said: 'When you're tired, it's easy to let your spending slip and impulse buys can feel more tempting. Setting clear spending limits, automating bills, and steering clear of instant-purchase shopping apps can help you avoid overspending. 'You can also set limits on your smartphone to stop you accessing financial apps late at night to prevent late-night money worries. Giving yourself the time and space to think clearly can make all the difference to your finances.' Opinium surveyed 2,000 UK adults between March 18-20. Sign in to access your portfolio
