Lately, I’ve been wondering if being a fan of celebrities like Taylor Swift has been bad for my finances. I’ve been a Swiftie since I was a preteen and have attended three of her concerts, including the Eras Tour. Buying tickets to the Eras Tour was the most money I’ve ever spent on a celebrity-related purchase. I dropped $800 on nosebleed tickets for me and my sister because we didn’t want to miss our chance to see the biggest tour of Taylor’s career so far.
Looking back, $800 was a huge amount of money to pay for a concert, especially for tickets that were two rows from the back of the stadium. And this isn’t the only time I’ve made a questionable financial decision as a fan of a celebrity. Last year, I bought a pair of used designer shoes from a singer I liked for a couple hundred dollars. He had worn them on stage, so the shoes felt like an extra special piece of merchandise that I had to have.
Parasocial Relationships With Celebrities
I’m usually a frugal person, but when it comes to celebrity-related purchases, my financial restraint can sometimes go out the window. And I’m definitely not alone. Many Swifties got their first credit card to be able to attend the Eras Tour and spent thousands on tickets. Some fans have even made it their hobby to collect all of Taylor’s merchandise.
When it comes to celebrity-related purchases, some of us have a hard time saying no because we have a parasocial relationship with our favorite artists and actors. According to recent research, about 51% of Americans have had a parasocial relationship with a celebrity. A parasocial relationship means that you feel like a famous person is a close friend. Listening to their music or watching their shows brings you comfort. Additionally, engaging with other fans gives you a sense of community and belonging that you may be lacking in other parts of your life.
However, parasocial relationships with celebrities can have downsides. Seeing your favorite artist or actor as a friend makes you want to support their projects, which can be bad for your wallet. Plus, feeling a connection with a celebrity can cause you to make emotional spending decisions and overpay for things like concert tickets and signed merch.
Moving on From Celebrity Culture After the Pandemic
I believe that some of us turned to parasocial relationships and celebrity culture during the pandemic to help relieve our loneliness. During lockdown, Taylor released two surprise albums called Folklore and Evermore, which brought me joy during that hard time. I think this caused me to develop a bit of a parasocial relationship with Taylor, which was why I felt compelled to drop $800 on a pair of concert tickets. The singer I purchased shoes from also released music that spoke to me during the pandemic, so I believe a similar dynamic played into that purchase as well.
Although being an active fan of Taylor was a welcome distraction during the pandemic, now I think I should pull back. In addition to the money I spent on Eras tickets, I’ve also wasted countless hours posting in fan communities and watching livestreams of her concerts. Now that the pandemic is over, I believe it would be better to invest my time and energy into real-life relationships and experiences, not parasocial ones. Focusing on my friends and family rather than fandoms will not only be more fulfilling, but also cheaper.
How to Avoid Overspending on Celebrities
If you tend to overspend on celebrity purchases as well, there are a few things you can do to avoid going over your budget. Before you purchase concert tickets or celebrity merchandise, try to run the purchase by a friend or family member who isn’t a fan. Because they don’t have an emotional attachment to the celebrity, they may be able to advise you on whether or not the purchase is a good value.
Secondly, make sure you implement a mandatory time limit before you can make a purchase. If your favorite celebrity releases merchandise, think about it for a day or two before you buy something. Pieces may sell out while you consider the purchase, but remember that popular items often get restocked. Don’t let the fear of missing out cause you to make impulse purchases that you can’t really afford or may regret later.
The same goes for concert tickets. Although it’s tempting to rush to buy tickets before they sell out, remember that many bands will add extra tour dates if demand is strong. Plus, you can often get better deals on concert tickets by waiting until the day before the event to purchase your seats.
Celebrities Don’t Need Your Financial Support
Another important thing to remember is that celebrities don’t need your money. Although you may feel like you want to support your favorite artist in their endeavors, you don’t have to spend your hard-earned money to do so. For example, you can stream their music for free on Spotify and like and share their posts on social media.
Finally, it may be best to unsubscribe from marketing emails from your favorite celebrities. These emails may tempt you to overspend on merch and other products. If you want to stay updated on their current projects, it may be better to follow them on social media or join a fan community. In my experience, celebrities promote their merch more frequently in their marketing emails than on their social media accounts.
Wrapping Up
Do you think celebrity culture is bad for people’s finances? How do you avoid overspending as a fan? Share your thoughts and tips in the comments!
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Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.
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