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For many people, Mardi Gras is all about four B’s, three of which are beads, booze and the Big Easy. But this multi-week carnival, which runs from Epiphany through Fat Tuesday every year, isn’t confined to New Orleans or the tawdry pursuits of partygoers.

Dating back to 17th century Europe, Mardi Gras actually is built on a Christian foundation, denoting a period for festivities before the fasting and sacrifice of Lent. It was first celebrated in the United States in what is now Mobile, Ala. And it has matured into an economic force, generating nearly $750 million for the New Orleans and Mobile areas annually.

With that in mind, WalletHub analyzed the event from top to bottom to help all the partiers out there understand what they’re toasting to and how even the raunchiest bashes can pack a big-time financial punch. You can check out all of the Mardi Gras fun facts we found, followed by a Q&A with a panel of leading experts. Enjoy and be safe out there!

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Ask the Experts

For a closer look at all Mardi Gras has to offer and how it can get even better in the future, we posed the following questions to a panel of leading experts in the fields of personal finance, government and environmental studies. You can check out their bios and responses below.

1. What tips do you have for a person that wishes to enjoy Mardi Gras while on a budget?
2. How can local authorities in New Orleans and elsewhere promote safety and reduce alcohol related accidents during Mardi Gras?
3. How can we reduce the environmental impact of Mardi Gras, particularly with regard to the plastic beads handed out during the celebration?

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