Ready to crush it at both games and financial planning?
Gaming doesn’t come cheap these days. We’re not just talking about the latest console releases and video game systems. Monthly subscriptions and in-app purchases pile up quickly too. All told, US consumers spent $58.7 billion on video games in 2024.
Here’s the problem:
Gamers aren’t usually super disciplined about their spending. They pull out the credit card for the latest skin. Pay for another month of Game Pass. Then sit there amazed at where all the money went.
There doesn’t need to be an all or nothing approach to finances as a gamer. You don’t need to give up gaming to be financially savvy. You just need to be more strategic about where your money goes.
Resources like https://mtgal.com/ggongmoney that focus on financial education and investing show you how to have it both ways. You can game, AND build long-term wealth at the same time. Competitive gamers and casual players both need to understand how to balance entertainment costs with financial planning.
Let’s dive into exactly how…
Inside this guide:
- Why Gamers Need Financial Planning
- Creating Your Gaming Budget
- Smart Investment Strategies For Gamers
- Turning Gaming Into Income
Why Gamers Need Financial Planning
Here’s a shocking stat: 17% of mobile gamers spent over $100 on in-app purchases in the past year.
Mobile games? Those aren’t that expensive…
But think about console games, PC upgrades, accessories, and all those monthly subscriptions too…
Add it up and it gets expensive fast.
But here’s the deal… Financial planning for gamers isn’t just about cutting costs.
It’s about understanding where your money is going and making conscious decisions about your purchases.
Let’s think about it this way:
If you’re spending 50-100 bucks a month on gaming with no plan in place, that’s 600-1,200 dollars a year! Invested over the long term, that money could be significantly greater at retirement. The key is balancing your hobby with your financial goals.
Creating Your Gaming Budget
Gamers mess this up all the time.
They don’t track their gaming expenses separately from their overall spending. So they have no idea how much they’re actually spending on games each month.
Here’s the fix:
Go back and look at your last 3 months of gaming expenses. Be comprehensive. Add up:
- Game purchases
- Game subscriptions (Xbox Game Pass, PlayStation Plus, etc.)
- In-game purchases
- Hardware and accessories
- Tournament fees, etc.
Add it all up. Then divide by three months. That’s your average monthly gaming spend.
Now take a hard look at that number… Are you comfortable with this level of gaming spend given your financial situation? Or is it too high and needs to come down?
Set Clear Gaming Spending Limits
Once you know your average gaming spend, it’s time to set some boundaries. The standard 50/30/20 budget recommendation is a good place to start:
- 50% of income towards needs
- 30% towards wants (gaming fits into this category)
- 20% towards savings/investing
Gaming should be a relatively small percentage of that 30% wants a pie slice. Think 5-10% max of your total income if you’re a hard core gamer. Less if you’re more casual.
The trick is to treat your gaming budget like its own separate sub account. When that money is gone, you’re done until the next month.
It’s that simple!
Smart Investment Strategies For Gamers
Time to talk about the fun part… Wealth building while gaming.
Gamers have this mental trap that they have to choose between the two. But that’s not true. You can have both if you’re smart about it.
Start With Small, Consistent Investments
Here’s the truth:
Even if you only invest $50 a month, that’s better than nothing. If you start early and stay consistent, that money will grow into serious wealth over time.
Here are some investment options that work well for gamers:
- Index Funds (Low cost, passive market tracking)
- Dividend Stocks (Companies that pay you dividends regularly)
- Retirement Accounts (401(k)s and IRAs for tax-advantaged investing)
You might be wondering… Isn’t investing risky? What if I lose money?
It’s true. There is risk in investing. But as long as you’re diversified and investing for the long term, it’s low risk. You can even set up automated investing that you never have to think about again.
The best part about being a gamer and investing at the same time?
Gamers already get the concepts of grinding for XP, leveling up characters, and long term progression. Gamers just have to apply the same concepts and thinking to investing. Small consistent actions taken over time compound into huge returns later on.
Avoid These Common Money Mistakes
Gamers are prone to some particular financial mistakes that can harm long term wealth building:
- Impulse purchases (Yes that limited time skin is gone in 6 months.)
- Subscription creep (Buy one service and stop looking for new ones)
- Hardware FOMO (Your current gaming setup is fine for a year)
- Pay to win games (No. They’re predatory)
Each of these decisions costs you money that could be invested instead. Think hard about each purchase to make sure it’s worth it in the long term.
Turning Gaming Into Income
Here’s a thought: What if your gaming hobby could start funding your investments?
Gamers now have more options than ever to monetize their skills and turn it into extra income. You don’t need to be a pro gamer to get paid for gaming. Let’s take a look.
Content Creation
Streaming your gameplay or creating content for YouTube can earn you income through:
- Ad revenue
- Subscriptions
- Donations
- Sponsorships
Even small channels and streams can make 100-500 bucks a month once they have an audience. Enough to fund your gaming habit and start investing.
Competitive Gaming
Tournament winnings aren’t just for professional pros. There are local and online tournaments for cash prizes in many games.
Try starting small with local events and working your way up. Skill matters, of course, but it’s also about networking and putting yourself out there.
Game Testing and Reviews
Game companies will pay you to review and test new games. Websites like UserTesting and PlaytestCloud connect gamers to these paid opportunities.
It’s not a ton of money, but it can help offset your gaming expenses.
Balancing Gaming and Financial Health
Gamers and finances are more similar than you might think:
- They’re both long term games.
- Success takes strategic planning and decision making.
- Hard work and consistency pay off in the long term.
Apply the same work ethic you have in improving your K/D ratio or climbing ranked leaderboards to your finances and watch it compound.
It looks something like this:
Track your monthly gaming expenses and set limits you can stick to. Invest the difference between what you were spending before and your new budget. Let compounding interest work its magic.
Most importantly, don’t let temporary gaming gratification come at the cost of your long term financial well-being. Those skins and characters don’t matter if you’re struggling to pay your bills.
Find the middle ground. Be able to game and enjoy it without financial guilt because you planned for it.
Wrapping This Up
Financial planning for gamers is all about these three simple things:
- Track where your gaming money goes
- Set clear spending limits and budgets
- Invest consistently towards your future
Gaming is expensive. No sugar coating it. But it also doesn’t have to destroy your finances. You can both game and build wealth at the same time with the right planning.
Take the first step today by tracking all your gaming spending this month. Cut all unnecessary subscriptions and impulse buys. Take that freed up money and put it to work for you.
You’ll thank yourself in the future. Plus you’ll have more than enough money left for gaming.
