Gaming is an enjoyable hobby that can take many different forms, from AAA video gaming to mobile casino gambling. Whatever your preferred platform and gaming genre, though, there are costs associated with the hobby. From the purchase of the hardware you play on to the cost of gaming subscriptions or the value of your regular wagers. Tracking your expenditure is a good way to help manage your ongoing budget, and to determine exactly how much you are spending on entertainment.
What To Track
To get a real handle on the amount you spend on gaming, you should track all outgoings and incomings. This includes the amount you spend buying video games or mobile apps. For casino gamers, it also includes returns, including winnings and money you get back through programs like the Golden Panda Cashback, because such bonuses do influence your total spend.
If you buy hardware, like new mobile phones or desktop PCs, specifically for gaming, you can also consider including these in your calculations.
Gaming Apps
The apps, platforms, and games you play on should record the amount you spend directly on the games. For example, casino apps include your deposit amounts and your wager values. Platforms like Xbox and PlayStation include details of the money you’ve spent directly on their marketplaces.
However, this may not be true of all the money you’ve spent. If you’ve bought additional skins or DLC through games, these might not be found on the platforms. Platforms and games may not keep records forever, or they may only display records for the past year, so this may not give a full account of your lifetime spending.
Banking Apps
If you only use a single bank account to make your gaming purchases and deposits, you can use your banking app to help track the money you’ve paid out over time. Apps typically enable you to go back several years, potentially even all the way back to when your account opened, so if you haven’t kept records before but want to start doing so now, you can use these records to populate your data.
If your app doesn’t include the data you’re looking for, it should be possible to request old statements, although some banks may charge you to send out paper copies of invoices.
Budgeting Apps
Budgeting apps are designed to track income and expenditure. Most enable you to monitor all of your spending habits, including all hobbies and expenses. But, they typically also enable users to label specific expenses, which makes it possible to track exactly what you spend on gaming, rather than what you’re spending on streaming services.
Budgeting apps are very effective at aiding users in managing their monthly spending while ensuring they stay on track.
Spreadsheets
You don’t have to use budgeting apps, especially if you have some basic computing knowledge. Spreadsheets have long been used for the very purpose of tracking transactions. They make it easy to perform calculations, making it possible to determine average monthly and even daily spending and determine which games have cost you the most.
Spreadsheets offer you total flexibility so you can take your analysis even further if you like, monitoring time spent on each game and working out which game has given you the best value for money over its lifetime.
Why Avoid Paper Records
Using paper and pen is a tactile experience. Some people even find their use to be cathartic, although not necessarily when creating a list of expenses.
However, paper records are perishable, and when compared to spreadsheets and apps, they have less functionality. You can’t automatically sum your total spend column or use automatic formulae to calculate your average monthly spend on Fortnite.
Keep Records
Whatever method you use to track expenditure, you must keep detailed records. Either update your records whenever you spend anything or set aside some time each week to keep your records up to date.
Don’t just include the amount you spend. If you get cashback from the site or app, include this in your spreadsheet. Even if you get cashback from some other platform, incorporate this into your calculations. Monitor any extras you spend, for example on battle passes and season passes, or on VPNs or other services that you use specifically for gaming.
Once you have your expenditure tracked, do something useful with the data. You can determine which games are costing you the most money, and which bring you the greatest returns, whether that’s in time played, enjoyment, or actual monetary returns, in the case of online casinos or online poker. You can also combine your gaming expenditure records with other financial records to help draw up an extensive and actionable monthly budget. The notes taken that way will help you improve your asset management and always have enough money for your gaming sessions.
