We all want to be entertained, but being entertained can cost a pretty penny. That’s why it’s so important to master the art of responsible budgeting. This can help you stay within your means while maximising your fun, making it a win-win approach to life and the pursuit of happiness.
If you haven’t had a whole lot of luck budgeting beforehand, not to worry. This guide covers all the top tips to help you keep fun within reach:
First, Work Out Your Entertainment Budget
The first step is, of course, to understand just how much money you have to, quite literally, play with. You can easily do this by taking your post-tax monthly salary and removing all fixed costs like your mortgage or rent and utilities (utilities, of course, can be variable, so use a high average for this).
From there, you can get real technical with it and start to track (or look at your bank statements) how much you spend on food and other essentials. Go back a few months to create an average.
The last step is to go and choose a sum to put away in your savings.
Remove all those fixed, essential, and savings costs, and you have your entertainment budget.
Set Hard Limits if You Struggle
If you’ve struggled managing your funds in the past, it’s smart to use platforms that offer self-exclusion features. This way, if you go to a site that has a huge collection of fun games at the tips of your fingers, like Kanuuna.com, you can play it safe by setting a weekly deposit limit right at the start. Simple limits can help you avoid chasing losses, so you can continue to have fun, no worries required.
Use All Available Discounts and Deals
Another great way to make your entertainment budget go further without being irresponsible is to check for discounts and deals. There are special theatre tickets called rush tickets, for example, that allow you to enjoy a night out at the theatre if you’re just willing to be flexible on the day (it’s how they sell unsold seats last-minute). You may be able to enjoy a deal through your insurance or even phone provider. Online casinos offer free spins and other bonuses.
In short, there are nearly endless ways you can save. You just need to put in the legwork to find the deals and understand what programs are out there and available to you. You could get a huge list of discounts if you are under 30, for example, or over 60.
Don’t Forget to Save for Bigger Entertainment Purchases
If there’s one big event you want to go to, then save up for it. You can even pay in multiple instalments if needs be, but just remember to take that into account regarding your budget. If you book a big trip and pay it off in monthly instalments in the lead up, then that instalment needs to come out of your monthly entertainment budget. The same goes for online games, for example, if there’s an online tournament. Just be prepared, set aside some money in the lead-up, and you’ll be able to fully enjoy your experience without money worries.
Article written by Bex Mills
