Studies have shown that in the United States, the average household earns around $60,000 before taxes, which leaves around $50,000 to bring home. From that amount, they spend more than $2,300 on entertainment.
While these figures differ depending on the country, most people are looking to save on some form of expenses. Most recently, people have started to try saving on entertainment after realizing that it’s a luxury and not a necessity —the opposite of what pop culture has told us over the years.
One of the best ways to save money is through the envelope system. The envelope system is the idea that you assign your income into six categories: education, savings, bills, long-term savings, entertainment, and gifts. From there, individuals can divide the categories into sub-sections. For instance, the entertainment category can be divided into solo entertainment and entertainment for our loved ones and ourselves.
Saving On Solo Entertainment
Using the envelope system, let’s say 20% of your money goes into the entertainment category. You can dedicate 10% of this towards your solo entertainment, while the remaining 10% goes towards your all-around entertainment.
When it comes to individual entertainment, there are many ways to make the most of this 10%. You can ensure that you get the break you need while managing your money wisely and distributing it successfully in the other categories like education and bills.
Over the years, online gaming has become a popular avenue for entertainment. It’s an engaging way to unwind on a one-to-one basis. Many platforms offer money-saving deals, attracting those who want to blow off steam while being reasonable about the money they’re spending. Online casino games have become particularly popular in this regard.
This is because many are low minimum deposit casinos, meaning players don’t have to deposit a lot of money to start spinning online slots. Further, there are comparison sites like Bonusfinder, which provide up to date analysis on different deals and offers. Presenting deals allows individuals to capitalise on low deposits while trying out new casinos and experiences.
Saving On All-Around Entertainment
Of course, nothing beats spending quality time with your loved ones. Unfortunately, the more members in your party, the more expensive activities can be. That said, there are ways to save money on entertainment for our families.
For instance, if you and your loved ones are movie buffs, why not subscribe to a streaming service like Netflix? Of course, there is a monthly fee, but if watching movies is something you enjoy, paying the subscription fee will be cheaper than paying for several movie theatre tickets for multiple people a month.
If the idea of staying in doesn’t appeal to you, and that’s why you like to go out to theatres, there are activities you can do that don’t cost money. For instance, libraries are a great source of entertainment where you can read for free. Plus, in the summertime, there are always free events like street performances and concerts.
As more technology has been introduced, we’ve come to believe that we have to spend large sums on entertainment to get a good experience. That doesn’t have to be the case. There are many ways to save money on entertainment, whether for you or entertainment for you and your loved ones.