Core Insights - The report "The Cost of Fandom" by Ally Bank reveals that sports fans are driven by passion rather than financial planning, with 57% admitting to overspending and 85% having no dedicated savings for fandom [1][2] - Millennials lead in spending on fan-related activities, averaging $2,050 annually, while Gen Z spends about $1,550 [1][2] - There is a notable increase in spending on women's sports, with 67% of fans indicating their spending has either increased (22%) or remained the same (45%) [14] Spending Behavior - On average, sports fans spend $1,600 per year, with "fanatical" fans spending nearly $2,200 [7] - The primary areas of overspending include tickets (60%), food & drink (54%), apparel (47%), and travel (36%) [7] - Millennials are less likely to have a firm budget for sports spending, with 43% lacking one, while Gen Z is slightly more responsible at 37% [7] Gender Differences in Fandom - Spending patterns differ between men and women, with women favoring social fandom activities and men leaning towards high-spend, experiential fandom [2][7] - Women are more likely to gather at friends' houses (52% vs. 46%) and host watch parties (31% vs. 26%), while men are more inclined to travel for games (31% vs. 25%) [7] Community and Values - Approximately 33% of millennials and 31% of Gen Z feel connected through their sports spending, highlighting the community aspect of fandom [2] - Gen Z fans show a strong commitment to women's sports, with 31% emphasizing the importance of being a women's sports fan and 40% viewing it as a form of supporting equality and empowerment [3][14] Financial Wellness Initiatives - Ally Bank promotes a values-based spending plan to help fans align their finances with their passions, enhancing both financial health and community connection [4][10] - The introduction of the Money Roots program aims to improve financial habits and decision-making among fans [10]

CHARLOTTE, N.C., July 30, 2025 /PRNewswire/ -- In an era where financial pressures are mounting, new research released today by Ally Bank reveals younger generations are paying a price to stay connected, and it's impacting their overall financial health and wellness. Released ahead of International Friendship Day, The Friendship Tab survey shows that while three out of five young adults admit social spending affects their financial goals, 69% still prioritize in-person connection with friends at least weekl ...