If you happen to be a Belieber, then the Justin Bieber concert scheduled to take place in Mumbai on the 10th of May has probably already sent you in a tizzy.
With ticket prices soaring to an absolutely eye-watering Rs. 76,000, there’s a good chance teenyboppers all over the country have fleeced their parents into swiping their Credit Cards to pay for, what is in essence, a prince’s ransom for tickets.
In fact, going by some of the videos and tweets making the rounds on social media, some older folk seemed to have followed suit as well and paid through their nose for a chance to sing along to some of the most banal tunes in modern music since Gangnam Style.
But, hey! Who are we to judge? Whether you’re a fan or not, there’s no getting away from the fact that the concert is going to be jam packed with screaming Beliebers who probably also have long-winded discussions about Chetan Bhagat novels.
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To put things into perspective, check out some of the ticket prices across various categories. It reads like an ascending roller coaster of bankruptcy. If you’re a regular schmuck, then a ticket will ‘only’ set you back by Rs. 4,060 for a spot in the General Attendance area, Rs. 7,700 for the Silver category, Rs. 10,080 for the Gold category, Rs. 15,400 for the Platinum category and Rs. 25,200 for the Diamond category.
And if you really want to see your wallet plummet into the proverbial financial abyss, you could land one of the VVIP tickets that are priced at Rs. 36,505 for the VVIP 3 category, Rs. 58,030 for the VVIP 2 category and a jaw-dropping Rs. 76,790 for the VVIP 1 category.
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If those figures made you huddle in a corner hugging your piggy bank tight, then here are some ways you could attend a similar concert in future without having to end up living out of your car for the rest of your life.
1) Save Up
Yup! It’s that simple. Start saving right now. If a musician you really admire makes his or her way to India in the near future, at least you’ll have a sizeable chunk of money saved up to pay for the entire experience without throwing the rest of your finances out of whack.
Think about it this way! If you start putting aside as little as Rs. 5,000 every month as savings, in the space of a year you could eventually buy yourself a VVIP ticket the next time a huge music act comes around.
Cut down on some of your expenses every month and budget your finances accordingly so you don’t have to scrounge around at the last minute to buy yourself a ticket.
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2) Invest
Here’s another way you could attend your dream concerts over the course of the future as well. By investing Rs. 5,000 every month, you could start an SIP in Equity Mutual Funds and create substantial wealth over time.
Let’s say you invest Rs. 5,000 in an SIP at the rate of 12% annually. Your investment could fetch you Rs. 4.3 lakhs after 5 years and Rs. 12 lakhs after 10 years. Through compounding, your wealth could grow exponentially over the years.
With enough cash in hand and all the interest you’ve earned over the years, you certainly won’t feel Sorry about paying so much to watch your favourite singer perform. VVIP seats? Sure!
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3) Credit Card EMIs
If you really can’t miss the concert no matter what, then you could soften the blow of those outrageous ticket prices by making use of the EMI facility on your Credit Card.
You can pay for your ticket and then choose to pay off the sum in instalments that could range from 3 months to 24 months, depending on what tenures your bank offers you. Sure, you will have to pay interest over and above what you paid for your ticket, along with certain extra charges, but it could definitely work out for you, especially if you can’t pay back the entire amount quickly.
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Now that we’ve told you how you could buy a ticket not just for this gig, but for future gigs as well, without sending your bank account into a meltdown, here are some things you could do if you have your wits about you and don’t really want to spend exorbitant sums of money at a concert of this magnitude.
1) Pay Off Your Debts
Let’s face it! If you have a bunch of debts on your shoulders, you would do well to pay them all off as soon as possible instead of paying for a concert ticket that will only add to your outstanding dues.
Regardless of whether you’re paying off Credit Card dues, Personal Loan or Home Loan EMIs, or you just owe money that you’ve borrowed from friends or family, diverting any extra money you may have towards clearing these dues will leave you in much better financial health than you would be post the concert.
After all, sometimes sacrifices need to be made in order to achieve certain financial goals, and none more so in this case, which could possibly prove to be a turning point as far as your finances are concerned.
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2) Take A Vacation
How about taking a much-needed vacation instead of jostling for space among thousands of screaming teenage girls and their sweaty boyfriends? With the amount a VVIP ticket costs, you could easily make a trip to Europe for example, and take in far more stimulating sights and sounds.
With airlines advertising great offers on flight tickets if you book your tickets over the coming weeks, you could trade in a few hours of live entertainment for a fortnight’s worth of interesting experiences that will live long in your memory.
And if you happen to have an Airline Credit Card, then you’re in a prime position to take advantage of all the amazing rewards that they can offer you.
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3) Get A Car
If you’re the practical sort, then you probably aren’t going for the concert anyway. But, ‘justin’ case you’re on the fence about it, why not use all that money to get yourself your own set of wheels?
You could apply for a Used Card Loan and use the money to pay off the EMIs over the coming months. What could be better than driving around in a car of your own for years to come? You could even drive yourself and your friends to the next big concert and have the time of your life.
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Whether you want to spend all that money watching one of the biggest pop ‘artists’ on the planet or divert your finances towards something different, it’s all up to you at the end of the day.
Just remember, being financially responsible should ideally be at the top of your list of priorities.