We all know that budgeting is an important part of life. After spending on essentials, there are plenty of ways to use the extra cash you might have left over. Some people like to vacation, while others might prefer to watch live sports. Some love the convenience of ordering food right to their doorstep, while others enjoy a night out at a restaurant. But have you ever walked away from these experiences having spent way more than you expected to?
We surveyed over 2,000 Americans to find out how much they would spend on some common activities. Then, we compared those budgets to the actual prices and discussed the difference. So, get your pencils ready and read on to see if your expectations meet financial reality. You may be surprised by what you find!
What Are People Willing (and Not Willing) to Splurge On?
Subscriptions to entertainment platforms like Netflix and Spotify are incredibly popular, and we can see why. Monthly fees are a small price to pay for unlimited songs and movies…or are they? The average person is willing to spend just $38 per month on entertainment subscriptions for things like Netflix and Spotify. However, they end up spending a whopping $86 per month—over two times the willing amount!
This trend of spending beyond one’s desired budget extends beyond entertainment, impacting more major expenses like housing. The average person would only be willing to spend $1,560 on a monthly mortgage payment when in reality, an average payment is around $1,775. That’s a difference of $2,580 annually.
Despite the disconnect in streaming service spending, Americans have a different attitude about the movies. They’re willing to spend 15% more on two movie tickets than what movie tickets actually cost. Gen Z took it even further, willing to spend up to $31.50 on two tickets—nearly $8 more than the actual cost.
While Gen Z is willing to spend more than most on movie tickets, their attitude toward vacations isn’t the same. Overall, Americans are willing to spend over $2,000 on a domestic five-day vacation, with Millennials and Gen X willing to spend the most — the average cost is about $80 less. However, in comparison, Gen Z is only willing to spend $1,758, $242 shy of the actual cost of a trip.
With the 2024 Paris Olympics in full swing, you might be wondering how much it costs to watch the games in person. We found that Americans think it costs around $3,700 to attend, but that estimate is way off. Start training your bank account now if you want to go to Italy in 2026, because the actual cost is 42% higher at over $6,400.
Thankfully, expectations for domestic sporting events are much more realistic. Americans would spend $114 on a single ticket to watch their favorite team, which could buy a seat at an MLB, NBA, or NHL game. NFL games are a bit pricier at an average of $151 per ticket, which makes sense since football is America’s most-watched sport.
Local Spending Priorities
Now that we’ve seen how America’s budgeting habits stack up against some actual prices, it’s time for a more in-depth examination. Our state-by-state breakdown shows a wide range of cost expectations across the country. Read on to see if you think the same way as your neighbors!
Residents of Arizona and Washington are right on the money when it comes to sports tickets, with their estimates being within just $1 of the actual cost. However, when it comes to concerts, Washington residents display a different trend. They’re willing to pay $338.73 for a concert ticket, which is $215 more than the average price.
In Idaho, 61% of residents expect to pay more than the average $25.37 for a 20-minute Uber ride. On the other hand, New Jersey residents are more conservative with their travel budgets. Their estimates for a five-day domestic vacation are over $300 off the actual costs, and their budgets for international airfare fall short by $470.
Although they live in a state that isn’t set to host the Olympics any time soon, New Hampshire residents can most accurately guess the budget for attending the games. Roughly one in four New Hampshirites guessed or even overestimated the cost.
Despite each state’s differences, there are a few things they can all agree on. People across the country say they would spend above the average price on:
- A nice dinner for two
- A concert ticket
Americans agree that some things are too expensive, like:
- Monthly mortgage payments
- Attending the Olympics
- Monthly entertainment subscriptions
- Round-trip international airfare
Closing Thoughts
As you might expect, there’s often a significant gap between what Americans expect to pay for leisure activities and the actual costs. Whether it’s budgeting for a concert ticket, planning a vacation, or estimating the price of a simple Uber ride, understanding these discrepancies can help individuals manage their finances better and avoid unexpected expenses.
At BetMGM, we know that gambling is all about proper budgeting and setting realistic expectations. It’s important to have a plan for putting your winnings toward memorable experiences. By keeping a close eye on your spending and staying within your budget, you can enjoy your favorite online casino games without financial stress. So, as you spin the reels and place your bets, remember these tips to budget wisely and enjoy the game!
Methodology
To find out how Americans budget their leisure, we surveyed over 2,200 participants. All the data in this study was collected and analyzed in July of 2024. Alaska, Montana, North Dakota, South Dakota, Vermont, Washington, D.C., and Wyoming were omitted from our research due to insufficient sample sizes.
