Heading to the Kentucky Derby? Here are 4 tips to help you save money and stay on budget

We spend a lot of time talking about hats and bowties during Kentucky Derby season. But it doesn't hurt to put a little more emphasis on your wallet.

Inflation has become an extremely present part of our lives, and seemingly everything is more expensive than it was before.

While many Derbygoers are perfectly comfortable splurging on four-figure seats, drinking a $1,000 mint julep, or throwing a whole week's paycheck down on a race ― some of us need to be a little more cost-conscious. The small expenses rack up, too.

Here's a quick guide to cutting corners at the track without cutting into your overall experience.

How to stick to a budget at the Kentucky Derby

You can have a good time on a budget inside the track. If you only want to spend $20 on betting, food and drink, then only bring $20. If you're thinking $50 or $75 is a little more your speed, plan for that instead. (Remember that seats in the grandstand are all-inclusive, so food and drink are included. However, you're on your own if you're in the infield).

Having cash on hand means you're less likely to overspend. And you don't want to rely on your debit card or go down the rabbit hole of the ATM because those fees add up, and so does the never-ending cash flow of just another $20 or $40.

Do yourself a favor and leave the debit card at home. The spirit of the Kentucky Derby can easily take over your wallet, and you don't want however many mint juleps you've had dictating your budget for the day.

How to save money on your Kentucky Derby tickets

The term "affordable" is relative when it comes to the Kentucky Derby. The best way to get the best bang for your buck is to get your tickets early. For the 150th Kentucky Derby, the vast majority of the tickets were sold using an online pre-sale registration and the deadline for that was in mid-October. (If you missed this, and you're bummed ― do yourself a favor, and put a calendar reminder in your phone to hunt down the pre-sale after Labor Day for Derby 151.)

There are still Kentucky Derby infield tickets available for $130 each on ticketmaster.com. These tickets don't include access to the front side or have a view of the track. Reserved seating for Kentucky Oaks Day started at $237, but to have a chair on Kentucky Derby Day, you're going to have to spend at least four figures. Verified resale tickets were starting at $1,043 and went up to more than $2,500.

In other words, if you're on a budget and still don't have tickets, going to Thurby is probably your best bet, where GA tickets start at $43.

How to save money on your Kentucky Derby outfit

OK, as much as no one wants to be seen rocking the same look in this year's photos as they did in 2023, you don't need to go out and buy a whole new outfit.

There are enough second-hand Kentucky Derby hats, bowties, and dresses floating around at consignment stores and in closets around Louisville that it makes sense to swap with a friend or shop someplace local. Someone in your office, neighborhood, or book club has a hat they loved last year and can't wear again. It's OK to give a garment a second chance to strut its stuff, even if you're not the one doing it.

If you want something a little more high-end without the ticket price, RentTheRunway.com will rent you designer, garden-appropriate dresses for less than $100.

Supporting local milliners is also great, and there's no shortage of fantastic work coming out of Louisville, but if you can't afford their price tags, there are cheaper options. Amazon.com and local consignment stores have a large assortment of hats and fascinators to choose from, sometimes for under $30.

How to save money on your at-home Kentucky Derby party

If you're not heading to Churchill Downs but are planning to watch the Kentucky Derby with friends and family at home, consider some quick tips to save money on your at-home entertainment.

If you're hosting and placing food on a table, you can use things like empty bourbon bottles filled with roses as ready-made Kentucky Derby decor. And for that food spread, consider easy-to-share bite-sized snacks instead of a sit-down meal. Things like benedictine spread, pimento cheese, and bourbon balls are synonymous with Derby.

Also if you're hosting at home, ask guests to contribute an item or two to keep costs down across the board. There's nothing wrong with asking someone to bring their favorite dish — if they offer.

As for your outfit, feel free to swap a stylish hat or accessory with a friend so everyone feels festive and Derby-ready without breaking the bank. You can even set up a hat station in your home with a few old favorites so that everyone can try on a different, fun look.

Reporter Maggie Menderski can be reached at [email protected].

This article originally appeared on Louisville Courier Journal: Kentucky Derby 2024: Ways to save money at Churchill Downs