What Should You Do With Your $2,933?

For many American families, their tax refund is the most significant cash infusion they get all year. This year, albeit less than in previous years, the average refund is expected to be $2,933. Financial advisors say how you should spend the money largely depends on your circumstances.

Of course, the obvious issues should come first. Have your student loan repayments restarted? For most, they restarted in May 2022. Many other pandemic relief programs have or will soon expire, and make sure you account for those first. Also, if you have credit debt, of course, tackle that. A recent report by the Federal Reserve Bank of New York found that credit card debt is rising at its fastest rate in decades. The Central Bank has been steadily and consistently raising rates, which has led to increased interest charges.

If those issues are resolved, how else can you direct your refund to spoil yourself AND save money simultaneously? Is that even possible? Yes! As the cost of consumer goods, including groceries and entertainment, continue to rise, many people are looking for ways to cut costs while still enjoying quality experiences. With the average American now spending roughly $3,269 per year on entertainment-related purchases, investing in a high-quality sound system for your home can be a cost-saving, long-term solution. Don't believe us? Just read below. We have the long details in a similar blog. But we wanted to provide a shortened version to help you get the most for your money.

Inflation in the Entertainment Industry

We know you want to hang out with your friends and family. But inflation has made that harder and harder to do. One festival producer reported that concert equipment rental rates had risen almost 300% since pre-pandemic times, forcing artists and venues to raise ticket prices. As a result, the average concert ticket in the US in 2022 increased by nearly 18% from previous years, selling for almost $110 per ticket. Similarly, tickets for sporting events, specifically within the NFL, in 2022 sold for an average of $151 per seat. However, admission costs are only part of the total spend. Factor in the cost of gas, parking, game day apparel, food, and alcoholic beverages per person per game, and the cost can add up quickly. For a family of four, entertainment expenses can easily exceed $13,000 annually!

The Cost of Entertainment at Home

Setting up a home theater system that provides a comparable experience to attending live events can be an affordable alternative. Platin Monaco 5.1.2, a high-quality Dolby Atmos surround sound system, sells for $1,499, while a very nice WiSA-certified 65" LG TV sells for around $1,500. If you purchase these state-of-the-art electronics, you will be spending $750 per person for an average family of four. And your tax return should cover that amount. Take Milan 5.1 from Platin Audio for example. It’s on sale now for $499. That is a $200 savings! Milan is a sleek and stylish solution, comes with a WiSA-certified SoundSend, has easy plug-and-play capabilities, and has virtual Dolby Atmos. Suppose we add $200 a month for food and beverages for the family. In that case, the total for your own personal stadium or theater comes to $550 a year, or 22% of the base cost of attending live events! You may still want to get out, enjoy the sunshine and go to a few events. Maybe you don't want to miss opening day at the ballpark, and you love a summer concert. You will still save money if you invite your friends and family over for the best party on the block for the championship games or the release of House of Dragon.

Benefits of a Home Entertainment System

Investing in a Dolby Atmos surround sound system allows you to enjoy movies, TV series, sporting events, music videos, video games, and more in a whole new capacity for years to come. Here are a few benefits of a home entertainment system:

• Cost Savings: Owning a home entertainment system can save you money in the long run, as the one-time cost of purchasing the system will be less than the cost of attending live events on an ongoing basis.
• Comfort and Convenience: Enjoy the comfort of your own home, with no need to fight traffic, search for parking, or deal with crowded restrooms and concession stands. You can also wear what you want and have your favorite snacks on hand.
• Immersive Experience: Dolby Atmos surround sound technology provides an immersive audio experience that can transport you into the action. You can hear the patter of footsteps or the slamming of doors in your favorite thriller as if it was happening right behind you. Feel the scratching as if it was over your head during Stranger Things!
• Flexibility: You can watch what you want when you want and how you want. A home entertainment system gives you complete control over your viewing experience.
• Quality Time with Friends and Family: With your own home entertainment system, you can invite friends and family to enjoy movies, sports, and other events together, creating lasting memories without leaving the comfort of your home.

Consider exploring the Platin Audio family, particularly Monaco 5.1.2—featuring front speakers with upfiring drivers to play Dolby Atmos and Dolby Atmos Music height channels—or the cost-conscious Platin Milan 5.1. Systems include Dolby Atmos-certified WiSA SoundSend that transmits up to eight channels of uncompressed sound wirelessly, with perfect synchronization., Platin Audio provides an affordable way to bring the joys of entertainment into your home environment. In today's climate of increasing costs, everyone could use a few extra dollars in their pockets. Investing in Platin Audio is an effortless way to achieve this.