How Much Should You Spend On Gaming Each Month?

*This is a collaborative post on how much you should spend on gaming each month

Gaming is a popular pastime that people all around the globe enjoy. With video games, casino games, and casual games, there is something for everyone, but with so many options budgeting can be tricky. To ensure that playtime is sustainable and remains fun, gamers of all genres should work towards creating a dedicated gaming budget to ensure the best gaming experience all month long. 

Assess Your Financial Situation and Set Priorities

Before you set your monthly gaming budget, you should take a step back to review your financial situation. Financial experts suggest allocating around 50% of your income toward essentials like housing and food. Then, you can allocate about 30% toward discretionary items like gaming or other entertainment. Most experts suggest trying to put about 20% away into savings as well. This is often called the 50-30-20 rule. Once you know how much you can spend on discretionary items, you can start to think about how much of your discretionary budget you will allocate to gaming. 

Additionally, consider what kind of gaming you’ll be doing. If you’re playing video games, look for budget-friendly options or subscription services that will give you access to a wide number of games for a set monthly fee. This can help you save money. 

If you’re into casino gaming, look for sites to wager on that have low deposit requirements or that offer lucrative bonuses and promotions as this can stretch your budget. British bettors have the choice of wagering on domestic sites which are part of the GamStop scheme, or on international sites which bypass GamStop. International sites typically offer unique bonuses and promotions along with flexible betting requirements in an effort to stay competitive in a busy market. Additionally, casino expert and author Kane Pepi shares that most secure casinos not on GamStop offer quick payouts, so players can receive their winnings quickly and without hassle. 

No matter what type of games a player enjoys, it’s important to allocate funds to necessities first and then break down a discretionary budget to cover gaming and other fun things for the month. 

Establish a Monthly Gaming Budget

Once you have your discretionary budget in mind, it’s time to break it down further to cover all of the fun things you’ll do. This could include eating out, going to the movies, going to concerts, and gaming. Take some time to think about how much money you’d like to specifically dedicate to gaming. This amount will be different for each person. 

When you set your gaming budget amount consider some potential expenses, like: 

• Video Games: Ask yourself if you want to buy any new games or if you will be subscribing to a gaming service like Xbox Game Pass or PlayStation Plus. 
• Casual Games: A lot of casual mobile games are free, but there are often in-app purchases that can quickly add up. When budgeting, try to set a limit that you won’t exceed on in-app purchases.
• Casino Gaming: Casino gaming costs can come from the amounts that a player wagers or travel costs if you are visiting a physical establishment. Consider how often you’d like to play and for how long, and then set a reasonable budget accordingly. 

Track Your Spending Across Different Gaming Categories

Once your gaming budget is in place, it’s important to track your spending throughout the month. This can help you make necessary changes for next month when the time comes. 

Gamers can use tracking tools like a budgeting app or a simple spreadsheet. Doing this will allow you to monitor how much you are spending and on what. Be sure to track each expense and make a note of what it was for. At the end of the month, you’ll be able to look back and see if you stuck to your budget or if you exceeded it. You’ll also be able to tell if you spend more on video gaming, casino gaming, or casual gaming. 

Reevaluate Your Budget Periodically

One of the most important steps in creating a budget is reevaluating your budget. Gaming habits can change over time, so reviewing your gaming budget to ensure it still aligns with your habits is critical. While you may start the year off by playing mostly casual games and making in-app purchases, you may end the year fully immersed in video games or casino games. This swap could change how your budget looks and what you’re allocated your money towards. 

Beyond your gaming habits, your financial situation can also change over time. If you find that you have a higher or lower income at some point during the year, it’s important to adjust your budget accordingly.

Conclusion

While every gamer should have a monthly gaming budget, the amount that they will spend will vary from person to person. This will depend on their priorities and their income. To get a gaming budget in place, gamers should first evaluate their finances and allocate funds following the 50-30-20 rule. Once a gaming budget is in place, gamers can continue to monitor and tweak it over time as their gaming habits change.