Financing the vibes is officially part of the festival experience.

Answer: 60%

Questions:

• Why do you think so many people are willing to go into debt or use payment plans for experiences like concerts or festivals?
• What do you think this trend says about how young people prioritize spending today?

• How might companies use flexible payment options to encourage people to spend more than they planned?

Click here for the ready-to-go slides for this Question of the Day you can use in your classroom.

Behind the numbers (People):

"As music festival prices continue to soar, fans are now opting for payment plans to obtain their tickets. In a new report published by Billboard on April 17, studies found that of the 80,000-plus attendees at the music festival, roughly 60% used a payment plan to afford their tickets. Coachella's payment plan is offered in partnership with AXS and attendees can choose to put down as little as $49.99 to reserve their tickets, paying the rest off over several months. An additional $41 charge is added for using the service."

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

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