The global video game market is worth more than 131 billion dollars making it one of the biggest and the most profitable businesses of all time. It took developers tens or even hundreds of dollars to create such games as Grand Theft Auto and Halo which brought them millions of fans across the world and billion-dollar revenues.
Luckily, it doesn’t mean that you’ll have to spend a fortune playing video games. There are options for everyone: from free to expensive titles. You can play a browser game without spending anything, choose regulated casino sites that allow to use New Zealand dollars and have a one-dollar deposit, or purchase a gaming console with tens of built-in games.
That is why we decided to discuss the main tips on how to manage money when playing video games. Hopefully, they will be of great use.
Track gaming costs
At first, everything was rather simple: you purchased a video game and could play it without any further fees. However, at the moment there are multiple financial models that make the game extremely expensive in the long run. For example:
- Games with downloadable content. Most video games are updated from time to time which means that to unlock new features or levels you’ll need to spend extra money. Yes, it’s not compulsory but you may miss the full gaming experience. Read game’s terms and conditions beforehand to find out whether it has DLC;
- Games with subscriptions. There are games that require players to pay a particular fee to play the game. Just like for a swimming pool membership. With it, you can enjoy any game from the library during a particular time period. The key thing to consider is how often you play. If you spend hours every day, the subscription can actually save you lots of money. Otherwise, it’s not worth the funds spent;
- Free games with microtransactions. These transactions are called micro because they are so small you might not notice them at first. The game itself may be free to download but developers will motivate players to purchase currency, additional content, or various customization features. Considering that these transactions are so small, it is easy to start spending much without noticing. We recommend setting a budget beforehand.
Make gaming a separate budget item
Budgeting is an important skill that allows spending only what you can afford to spend. With proper budgeting, it’s possible to break your finances into different categories and avoid spending the money from one group on the item from another one. For example, with budgeting, you won’t spend the utility payments money on gaming.
Usually, entertainment should make 5-10% of your budget and include gaming. This category may also contain eating in cafes or going to the cinema. If you make a single payment to buy a video game, budgeting might not be necessary but everything changes with microtransactions. They take place regularly and it is easy to lose track of the spending.
Don’t be fooled by sales
Who doesn’t like discounts? Gamers also have access to numerous sales. For example, the Steam platform often offers discounts that reach 90%. However, there’s a catch: players tend to purchase games or built-in features with discounts which they wouldn’t buy for a full price. Thus, you should always make a list of the games you are planning to buy so that during sales you won’t have to exceed the budget. Thus, you won’t end up without money and with the games, you don’t even need. Let the budget guide you because it remains the same even if the prices drop.
Money management is the key to a positive gaming
Like any other hobby, it is possible to fit gaming into your budget if you apply the tips above. Always read descriptions to be aware of additional payments that might be waiting for you, budget your gaming expenditures, and purchase games and their features with discounts only if you really need the product.
Remember, playing video games is a positive hobby until it makes you run out of money. Approach the process with seriousness, ask for help if necessary, and you’ll always have enough funds to buy the latest releases or updates.