Five Ways Gamers Go Broke

Major Causes

Probably one of the most expensive things money cannot buy is financially smart gaming. Gamers all over the world still suffer from the devastating consequences of the global socio-economic crisis. Wages have collapsed. Unemployment is uncontrolled and rising. All that, and many other reasons are reaching effectively into every gamer’s wallet. In this top 5 list, you will read about some risk factors that often bring gamers to the poverty line.

1. Not Playing Free Games

Sounds too simple right? Not exactly. Ask yourself how many of the games that you really want to play are buy-to-play or pay-to-play.  Then ask yourself how many of those are free. Most likely, the free games will be less but those are the ones to stick to in order to build up your finances. The only exception would be to buy the games you want in bulk via bundles like at Humble Bundle.

2. Job Loss

Statistically, the big driver of wrecking a gamer’s finances is getting fired from work. It is not the job loss itself that makes gamers end up broke, but the repercussions of it. When the income suddenly reduces many do not know how to cope with the running costs. Often they do not have savings or the emergency fund and simply dive deeper into debt or start to play casino slots online. Additional expenses related to, for example, finding a new workplace can contribute. Often it remains unknown when the new job will show up on the horizon.

3. Credit Card Debt

Has pretty much everything with overspending the money you aren’t earning for real. Stick to the budget and control impulsive purchases such as the latest Xbox One game.

4. Ever Heard of Money Planning?

The title speaks for itself. Gamers often do not even know how much money do they have, how to handle it right and where is all the cash going. When the money hits, the adrenaline burns the brain, so, it is very important to think ahead. That means every gamer should have some money plan. Manage your finances and be prepared for the future.

5. Self-Investment

Gamers tend to buy gaming equipment and accessories and then get new gear way too fast. Invest into the goal that will make you a better more financially sound gamer in the future. Educate yourself and get the most out of each game and system that you buy.

Always Choose Wisely

The biggest friend of the wallet is common sense and adequate planning. Have all the risk factors from the text in mind, think twice before you go game shopping, and there will be no major problems. Remember, taking care of your money today means taking care of yourself tomorrow.