The video game industry is enormous. Already worth $178 billion annually in 2021, experts predict yearly revenues will stand at $268 billion in 2025. Video games have become a major part of our daily lives. They are played by all ages, and these days you don’t even need a console. There are so many ways to play: on your phone, on your laptop, and even on your TV. As tech advances the games are becoming more complex and expansive. Production of games has become such an enormous undertaking that companies are outsourcing to studios providing support on elements such as game art services to keep up with competitors and get games out on time! Video gaming is a great hobby, but it can be an expensive one, especially with so many brilliant games on the production line. It’s easy to burn through your paycheck! But there are ways you can still enjoy gaming without breaking the bank. Read on for some great tips to control your spending on video games.
Budget, Budget, Budget
Gaming is a hobby, but keep in mind that like all hobbies, it is a luxury. If you’re starting to spend your money on games instead of food or paying the bills, then you need to take control. Setting a budget is the first thing you should do. Of course, we all have different financial situations, but we should all look to spend only sensible proportions of our income on our hobbies. Sit down and take an inventory of your monthly incomings and outgoings. Then, note the money you need to pay for essentials – food, rent/mortgage, insurance bills, etc. That needs to be ringfenced and not used for anything else. You should also look to put some of your paychecks into savings or pensions to take control of your future. Then, and only then, set an amount from the remaining cash to spend on video games a month. And stick to it, no matter what.
Beware In-Game Purchases
In days gone by, you bought a game for your console, and that was the end of it. These days, many games, involve further “in-game” transactions. Many games offer further downloadable content such as new levels that need to be purchased separately. These can quickly massively inflate the figure you originally paid. Free games, especially those available on smartphones, usually bombard the player with in-app offers involving small amounts of money to unlock extra features. They can soon mount up quickly, and the game ends up being far from “free”. Also, think carefully before buying any games that need you to pay a subscription fee to keep playing. There is nothing wrong with any of these types of games, but you should understand exactly what you are buying at the outset and make your decision accordingly.
Wait!
Video games can have marketing budgets to rival any Hollywood blockbuster, and it is easy to get caught up in the “must-buy now!” hype. It is so tempting to jump in with both feet, but a great strategy is to be patient and hold off from buying. Firstly, it’s a great way of evaluating whether the game is really a must-have. When the fuss dies down a bit, you can look at detailed reviews and make a far more informed decision. Waiting a few short weeks can also mean that discounted sales start to take place as the next blockbuster game blasts into our consciousness.
Adopt A “Sales Only” Buying Policy
In addition to being patient, you can also go the whole hog and only buy games when the right deal comes along. It’s a very fluid market and yesterday’s premium buy can quickly become rather more affordable. There are thousands of discount gaming websites that have really good deals and if you shop around, you may find a brilliant deal for a game you are desperate to get hold of. And don’t rule out buying second hand – people have all sorts of tastes and they might shell out for the latest game only to find they don’t like it, and sell it on for a great price. Of course, while looking for bargains can be a sensible policy, if you start spending heavily on them, you’ll end up spending as much, if not more than buying a couple of premium-priced games. Be sensible and only buy what you really, really want.
Get The Maximum Value From The Games You Have
With many games being relatively pricey, you should really play them in as much depth as possible to make them last longer. Setting different goals unique to you within games as opposed to purely playing them as they present themselves will maximize your return on investment. Of course, make sure you keep an eye on the clock and don’t spend too much time playing – it can be bad for your health.
Sell The Games You No Longer Play
It is very easy to wallow in nostalgia with video games we no longer play but you should be ruthless and ship out the ones you know, deep down, will never see the light of day again. There are many sites and stores that will give you a good price for your old games. Make sure you head online and check each game – some may be collector’s items and fetch an excellent price. Retro games are currently doing a brisk trade. The money you earn can be put towards new games, not to mention getting rid of a lot of clutter!
Final Thoughts
Like any hobby, you need to keep everything in perspective. If you’re spending more than you should, you can end up in debt, and also put immense strain on your personal relationships. Video gaming can be an expensive pastime, but if you set budgets according to what you can afford, you’ll enjoy your hobby and keep your spending under control. There are also great bargains to be had – but spend wisely. Remember, if you feel things are spiraling out of control, seek professional help: there are many organizations out there that can listen to you and give you guidance.