After a long day at work or having a busy schedule, it’s necessary to relax and unwind. Gaming is one of the most popular avenues that people use to kick back and relax, either immersed in a shootout in Call of Duty or planning to conquer territories in Crusade Kings. Nonetheless, it’s quite easy for one to get lost in the gaming world at the expense of their finances, with each day getting you closer to a zero balance.
So, how do you get to enjoy your gaming without running into debt or mismanaging your funds? There are a couple of things one can do, and this article will help you plan your finances around gaming.
Know Your Gaming Set-up and Games
Before anything else, you need to ask yourself this question—what type of gamer do I want to be or am I? This will guide the gaming equipment you need to buy, which is either of three options; a personal computer (PC), console (Xbox, Playstation, Nintendo Switch), or portable devices (Nintendo DS, smartphones, or Playstation Portable).
If you want to customize your gaming experience with your own parts and accessories, you’ll have to go the PC route. This might end up costing you thousands of dollars so it’s something you need to budget for. One of the most expensive PCs for gaming, the 8Pack OrionX, costs upwards of $30,000.
If your approach is simple gameplay without complicated set-ups, hardware, or upgrades, a console fits the bill. Even though the console isn’t as expensive as a customized PC, it isn’t cheap either. For example, when the PS5 launched in 2020, it had a price tag of about $500. Portable gaming devices also have a fixed cost and will allow you to play from anywhere.
Once your gaming set-up is ready, the next budget you’ll need to focus on is games. The thing about games is that it is a continuous expenditure which you need to be careful about. In the US, the average price of a video game is $69.99, so $1,000 gets you about 14 games, which isn’t that many games, to be honest. The hack to planning your budget around games is to buy games you’ve played and enjoyed in the past and those that fall under the genres you prefer. Also, be on the lookout for mega discounts, which come often and will get you games at less than half the price at times.
For Real Money Games Have A Budget
The gaming world is vast and exciting, with many options for players to enjoy. Besides video games, players can also enjoy the lottery, bingo, casino games, and sports betting, which can potentially win them money. We understand the allure of such games and their possibility of winning some cash out of your gaming. However, it’s good to proceed with caution and have a budget when enjoying these games.
Casino games, for example, require one to wager real money to win any cash. So, if you aren’t careful, you can easily drain your account in the hopes of winning big. That’s why responsible gaming is encouraged. Games such as slots, poker, roulette, and blackjack are fun to play and can be interactive, so coming up with a budget and not going above it will let you enjoy these titles healthily.
Let’s say you enjoy the casino games mentioned above but don’t want to spend any money playing them. The best option you have is to play sweepstakes casinos, which use virtual currency instead. Sweepstakes casinos use ‘Sweep Coins’ or ‘Gold Coins,’ which are virtual coins to let players enjoy their favorite games. The good thing is you can win cash prizes from it.
Earn Money From your Gaming
Instead of money going out of your account, have you ever thought of money coming in from gaming? It’s possible, and many people are doing it, some even making a living out of it. There are several ways to make money from gaming, such as becoming a Twitch Streamer, participating in esports, starting a YouTube channel for gaming, and offering tutoring lessons. As you can see, this mostly depends on available time and your skills.
If you consider yourself a diehard gamer and a master at your craft, you can make money out of gaming. Currently, the highest-earning esports gamer, N0tail (John Sundtein), has earned over $7 million throughout his career. What does this mean for you? It means there are avenues you can explore and make some income out of your gaming time. Even though you might have 2 to 3 hours of gaming, you can upload your videos on Twitch or YouTube as walkthroughs or offer “cheats” to play certain games and build a community.
Beyond Finances
Even though there’s a direct relation between gaming and finances, it’s also good to consider another asset—time.
Gaming might be financially viable, but it takes most of your time, which can be counterproductive. As you plan your finances around gaming, don’t forget the time aspect.
