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If you are reading this, then you love to play video games. You probably also realize that the cost of games has been a bit out of control lately. Newer consoles will cost you at least $ 400, and games for those machines, including PlayStation 5 titles, will cost $ 70 each or more. It goes without saying that if you are a game collector then you need to have money to spend.
Unfortunately, budget isn’t everyone’s strong suit, and it can be easy to get sucked into the excitement of a new game and make an impulse purchase when you really can’t afford it. To help you, we’ve put together a helpful guide to improve your budgeting skills and save some money on games and equipment.
Your pre-game budget
As we’ve been stuck in quarantine for most of the year, your playtime has probably increased. On top of that, with some businesses closing during this troubled time, you may also face a cut in pay or a decrease in hours. If this is the case, before you think about buying new video games, you should first take a good look at your current financial situation.
The first step is to review all of your income streams and determine how much money you are contributing each month. Then list all your current bills and expenses. Write down everything from your rent or mortgage to the money you spend on lunch each week. If you have money left at the end of the month, you must decide how you want to use it. It’s a good idea to put some money in a high-interest savings account, but the rest can be spent on entertainment and video games.
Create your budget so you don’t spend money on games first and then find that you don’t have enough to pay your rent. This budget is also important because you want to spend the money you have now and not go into debt for your gambling hobby. If you are low on funds, you may feel the need to use credit cards, but you should use them with caution. Get in the habit of paying off the balance right away. If you don’t pay your payments on time, you could face costly late fees. If you only pay the minimum balance, you could be charged interest and the debt could soon be insurmountable.
How to save on games
While you now have some cash saved to increase your collection, you also need to remember that you don’t have to go broke buying games. Instead, smart shopping can help you get the titles you want without resorting to a negative balance. The most important thing is that, unless it is a special gift, refrain from buying games when they are new. They will be at their most expensive right now. If you can wait at least a month, the game will probably start to appear on sites like eBay, where you can find it for much cheaper.
That also applies to game consoles. Right now, the best PS5 and Xbox Series X models cost $ 499 due to popular demand. But over time, these prices will drop as developers catch up and increase supply.
If you are an avid gamer, you probably have a lot of games and consoles on your shelves. If you haven’t used them in a while and want more money for newer toys, consider selling some of your old items. There is a significant market for classic systems right now, and you have a great chance of making some money by advertising online. Make sure all systems are working properly beforehand and then list them with their best price.
Remember that there are also other options for purchasing your video games outside of a major retailer. For one, you can rent your games from a store or kiosk, like Redbox. This way you can see if you enjoy the game in the first place, and even if you keep renting it until you complete it, it will probably cost less than buying it new. You should also consider signing up for a gaming membership, such as Xbox Live or PlayStation Network, where you can play a large library of games for one low monthly price.
Save money elsewhere
If you are still having trouble paying for what you need, see how you can save money in other areas of your life. For example, how much money do you spend on gas for your car each week? You can improve the longevity and fuel efficiency of your car performing regular maintenance, including changing the oil, spark plugs, and air filter every 5,000 miles.
Those who play with the television on 24 hours a day may notice an increase in their electricity bill, but you can save there too. Get into the habit of always turning off lights when leaving a room and unplugging the console when not in use. Yes, even if your Xbox is off, it can still “to bleed”A little electricity, so unplugging can save a bit on your bill. If you want to see exactly which electronic devices use the most energy, you can check your electricity bill to calculate how much you could save if you turned off a specific device.
Often times, the little things can add up, so think about the money you spend here and there and how you can reduce those minor expenses. Going out for coffee may be part of your routine, but you can save money by buying a bag at the store and making it at home. The same goes for their lunches. Instead of going out every day, head to the supermarket and make a meal. If you spend more time playing games than watching TV, then you also need to eliminate some of the cable packages that you pay for but never watch.
As video games and consoles continue to evolve, prices for this type of entertainment will only increase. However, by being mindful of your expenses, you can buy nice things and keep your finances under control.
Featured Image Credit.
