Most of America’s eyes are going to be glued to the Super Bowl this upcoming Sunday, but what many of us should be paying attention to is how much it costs. Why? It’s the most expensive it’s ever been, which is a sign that living necessities will be cost us more as well.
A recent USA Today report dubbed this year’s Super Bowl the most expensive in history, with a ticket fetching on average $9,619 on the secondary market. Just a few years ago the same pair were priced at about $5,000. Although this may seem like a first world problem, Intuit Credit Karma says “fee creep” could affect all of us.
In a recent report, Credit Karma, 56% of Americans shared the high price of fees, including service fees and processing fees, are keeping them away from attending events they normally would be able to comfortably afford.
“Over the last few years, we’ve seen a rise in prices for most things and, while the sticker shock has worn off for many people, others are digging into increased prices and noticing significant increases in fees,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma in a statement. “Similar to tipflation, consumers have started to notice an uptick in the number and size of fees associated with their transactions, which is eating into their budgets and making it difficult for them to enjoy the same level of activity as they’re used to. If you’re someone who is experiencing fee fatigue, but still willing to spend whatever it takes to enjoy the experience, it’s important to check in and assess your spending to determine what you can reasonably afford and if it fits into your budget. If it doesn’t, consider saving up for the activity or making room elsewhere in your budget to make it happen.”