Beating Broke

Personal Finance from the Broke Perspective

Saving Money in Gaming

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Digital gaming is one of the most popular hobbies in the world. Whether through old video games, newer entries, or even the world of online gambling, the many forms which gaming takes never leaves us wanting for choice. The problem with this, especially when it comes to traditional video games, is that cost can often be an inhibiting factor.

A mobile phone or console can cost hundreds as a platform, whereas a gaming PC can easily cost over a thousand dollars. Games that cost upwards of $60 on top of this can be the straw breaking the camel’s back, so how might we save on this front, so our money goes further?

Searching Out Bonuses and Savings

One of the most important components of saving money when buying games comes from the fact that not all shops are made equal. It is only very rarely the case where physical stores will ever match up to the sales which you can find online. While second-hand games on consoles can buck this trend, the best bet is almost found online.

For traditional video game purchases, you might first check out a key selling service such as G2A. These services operate by buying digital keys of games when they’re on sale, or when they’re cheaper in another country. They can then sell these back to the consumer, legally, far cheaper than can usually be found with traditional storefronts.

For an example of this, we could look at the immensely popular GTA 5. The regular price for this game on storefront Steam sits at around $35. Using G2A, users could pay as low as $13. The savings here make this choice a no-brainer.  Here is a handy screenshot from G2A so you can see what their interface looks like.

When it comes to online casinos to play, this concept is often much simpler. There are many comparison websites out there that search out promotions like a PartyCasino bonus code for a player. This means less time, money, and effort wasted searching the wide realm of online services, with benefits like deposit matches allowing more play for less investment.

Premium Gaming Services

Another growing path in the world of gaming comes from the rise of premium gaming services. Available over mobile, desktop, and consoles, these effectively act as subscription services, usually at a cost of around $1 to $20 a month. During the subscription period, players can gain access to dozens or even hundreds of games.

Many of these services even include access to new releases. For an example of this, we could use The Outer Worlds, which was released on the Xbox Game Pass as well as regular stores. To purchase the game would cost around $60 but, due to a special from Microsoft, users of the Game Pass could get a month’s access to this game and many others for just $1.


“The Outer Worlds” (CC BY 2.0) by SnakeDrone

The last part of this equation comes down to simple budgeting on a month to month basis. This is especially important when it comes to subscription services if you’re only after one or two specific games. Feel free to change your choice depending on new games you want to play, and what sort of time you have available, and you’re guaranteed to get all the more from your experience.

Whether for yourself or your family, check out these tips, and you’ll be surprised at just how much you can save.

 

5 Benefits and Drawbacks of Keeping a Change Jar

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5 Benefits and Drawbacks of Keeping a Change Jar

Do you keep a change jar?  My mom keeps all of her change and has been saving it for the last two years for a vacation.  She is not alone as many people hoard their change as a way to save money, especially if  they feel they’d otherwise be unable to.  However, just as many (or more) argue that keeping change is a waste of time and space.  Both sides have valid points; I find there are 5 benefits and drawbacks of keeping a change jar.

Benefits to Keeping a Change Jar

There are benefits to keeping a change jar, which is why so many people do so, even in this age of prevalent credit card usage.

Save for Something Special

5 Benefits and Drawbacks of Keeping a Change Jar
Photo by Deanna Ritchie on Unsplash

Have you ever seen the big five-gallon jugs that people use to collect their change?  One man saved for 10 years, and when he cashed it in, he had over $3,000, which he used for a trip to Europe.  Would he have saved that money without keeping his change?  He says no.  If you don’t have the discipline to save, keeping your change is a good, mindless way to save.

Cash Emergency Fund

Another woman saves her change for a rainy day.  She and her husband had an expensive car repair that they hadn’t planned for, and they robbed all of their budget categories to pay in cash for the expense.  That left her with no grocery money for her family of four for the month, so she raided her change jar.  She had $224 in there, which she used to feed her family.  It was still a tight month, but she didn’t go into debt, and her family didn’t go hungry.

Drawbacks to Keeping a Change Jar

Unfortunately, there are risks and expenses with saving this way.

Could Earn Interest

One of the major drawbacks to keeping all of your change in a jar for years is that you miss out on the interest you could be receiving.  Take the man who had $3,000 in change.  He could have invested his money as he saved and been earning interest.  He would have made more money than he did just leaving it in his closet.

May Lose It All

An even bigger drawback is that you have the potential to lose all of the change.  A friend of mine had about $120 in change she’d been saving, and, unfortunately, her house was robbed.  All of that money was gone.  Even if your house isn’t broken into, you could lose the money if you have a fire.  Even teens have been known to dig into their parents’ change jar for a little extra money.

You May Pay a Fee

A select few banks still offer coin counting machines for free, but many won’t take coin rolls.  If you have to rely on CoinStar, you’ll pay an 11.9% fee, so if you turn in $300 in change, you’ll pay $36 in processing fees.  If you need to pay a fee this high, is it still worthwhile to save your change?

Saving change has been a fun way to save money, but as these 5 benefits and drawbacks of keeping a change jar demonstrate,  it’s becoming increasingly costly.  If you can have enough self-discipline to save the money on your own in a bank or invest it, that is the better way to save.

Do you save your change? What benefits and drawbacks do you see?

This December Save Money with No Spend Days

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While the holiday season often means seeing family and taking time off work, it is also typically a time of high expenses.  In fact, you may spend more in December than you do any other month of the year.  All of this spending can lead to a holiday hangover in January as you look at your empty bank account and credit card balance.  But it doesn’t have to be this way.  This December save money with no spend days.  You’ll be so glad you did when January rolls around.

This December Save Money with No Spend Days

How to Implement No Spend Days

No spend days can be a great way to save money.  December is a challenging financial month, so it’s best to start having one or two no spend days a week in November.  By December, you’ll have accrued extra money to use in the most expensive month of the year.

What Is a No Spend Day

Save Money by Not Spending
Photo by Clay Banks on Unsplash

On a no spend day, you don’t buy anything.  No morning coffee at the local shop; no online purchases, no matter how great the sale; no lunch out with coworkers; no stopping by the grocery store for a few items—you simply do not spend money on that day.  If you want to stretch yourself, try it for two or three days in a row.

Why Have No Spend Days in December

There are several reasons to have a few no spend days in December.

Learn to Rein in Your Spending Impulses

Money gets away from us easily in December.  We feel bad that we may not have spent as much on presents as we perceive others have spent, so we add on a few gifts.  We may want to give the hostess of a party a nice bottle of wine.  We may want to tip the hairdresser more generously.  On and on throughout the month of December, there are little and not so little expenses that chip away at our money.

A no spend day or two allows you a chance to take a break from spending.  When you take a break from spending, you reset your mind.  After a no spend day or two, it’s a little bit easier to not spend as much money.  It’s a little bit easier to ask yourself, “Do I really have to (or want to) buy this, or can I do without or wait?”  You may find waiting leads to never buying it.  When you check your buying impulse, it’s not so strong, and you can experience more self-control.  If you do still want to buy the item, you may be more inclined to look for ways to buy it for less.

Start the New Year without A Holiday Debt Hangover

Wouldn’t it be great if, come January, you open your credit card bill and are not faced with charges you can’t pay off?  Wouldn’t it be great if your bank account balance was still healthy come January?  Wouldn’t it be great if you bought gifts in a disciplined, conscious way so when the holidays are over, you just feel good about the holiday season rather than suffering from a holiday hangover?

It is possible to have a controlled spending holiday season.  One way to jump start this process is this December save money with no spend days.  Try to have one or two per week this month.

How do you keep your budget in check during the holiday season?  What strategies do you implement?  Do you have no spend days throughout the month?