Glitter, beats and… budget sheets? Your guide to spending less at festivals

Research from Lloyds suggests ticket holders will have already spent £86 on new outfits, camping gear and other essentials, ahead of the event. Add this to the ticket price tag, and festivalgoers have splashed hundreds of pounds before they’ve even stepped through the gates. And when the music starts, many are gearing up to spend an extra £150.

The research also reveals that many festival-goers have gotten a little too ‘lost in the music’, with almost half (43%) admitting to losing items like their phone, wallet or glasses at festivals. And over a quarter (26%) have accidentally overspent on items such as food and drink.

“Music festivals are the highlight of our summers – but between the glitter, wellies and late-night sing-a-longs, things can sometimes get a little… chaotic. That’s why a bit of planning goes a long way in keeping your finances and belongings secure,” says Ola Majekodunmi, Lloyds Money Expert.

Lloyds shares its top tips to help festival-goers stay safe and financially savvy while making the most of their experience: 

Keep calm and tap on

With more festivals going cashless, contactless payments are the easiest way to buy food, drinks, merch and more. In fact, 66% now plan to pay by card or contactless. No more rummaging through wallets or juggling loose change: just a tap and it’s done.

“To keep on top of this, the Lloyds app allows you to check your account balance to avoid any surprises, monitor transactions in real-time to keep track of where your money’s going, and even transfer funds if you need a quick top-up. Plus, a contactless limit can be set, so you’re not tempted to overspend,” says Ola.

Contactless payments are accepted up to £100 per tap, while some digital wallets like Apple Pay or Google Pay may allow higher limits with added security features such as Face ID or fingerprint recognition. Ola adds: “If you do lose your phone, remember – you can remotely disable these features via your Apple or Google account.”

Cash me if you can

29% of people still choose to withdraw cash before a festival or large event. And while some find it easier to budget with cash, it can also be harder to trace or recover if lost or stolen. Many festivals are also now cashless or strongly encourage digital payments, so ticket holders often don’t need to take much physical money at all.

But if you do choose to take cash Ola recommends: “Bring just enough money for emergencies or cash-only stalls (e.g. £20–£50 in small denominations, so you’re not flashing big notes).”

Budgeting tips

Festivals are full of temptation: street food, merch stalls, glitter bars, cocktails in coconuts and more…which is why it’s all-too-easy to lose track of spending, especially in the excitement of seeing favourite artists. But a little planning can go a long way in helping to keep spending on track – especially when camping over multiple days.

“It’s best to set a realistic daily allowance to stick to while you’re there; think about food, drinks and merch you may want to buy. You can also set spending limits through your bank account if you know you may be tempted to blow your budget.

“Festival crowds are drawn to anything that glows, glitters or sparkles. A pack of glow sticks can cost under £5, but you can use them to trade for small favours like borrowing a phone charger or sharing an umbrella to save paying vendor prices, or buying new.”

If you’re camping, Ola also advises a couple of extra things to pack to help you save even more money: “Festival food is notoriously expensive. So, consider bringing your own food and drinks to save some extra cash. You can also try freezing a few bottles of water and wrapping them in foil – they’ll keep your food cool and melt into drinkable water for later on.”

“It’s also worth thinking about second-hand options for things like tents, sleeping bags and camping chairs. Sites like Vinted, Facebook Marketplace or eBay can often help you to bag a bargain.”

What if you lose your phone or card?

Losing a card or phone isn’t the end of the world… but it’s always best to be prepared. Ola advises:

• Protect your gear before the party starts. Personal possessions insurance could save you hundreds if your stuff goes missing, and it’s only a small price to pay for peace of mind.
• Take note of your bank’s emergency contact number before the festival, though most mobile banking apps allow you to freeze your card instantly if it goes missing.
• Keep a small amount of emergency cash and a backup card in a different location (like your bag or your jacket).
• Remember your passwords in case you need to remotely deactivate your phone. If you’ve set up “Find my iPhone” (Apple) or “Find my device” (Android), you can remotely lock your phone or even erase its data to protect your personal information.

“A little planning goes a long way. With the right balance of payment methods and smart storage, you can focus on what really matters: music, memories and mud (probably!)” concludes Ola.

For more tips on managing your money, visit https://www.lloydsbank.com/help-guidance/everyday-banking.html

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