Having an entertainment section of your budget is very important, because all work and no play makes it very hard to be a frugal person. Giving yourself some money each month to be able to let loose will help you manage frugally in the long run. Here are some ways you can stretch your entertainment budget with free or discount methods of entertainment.
If you ever feel guilty when you are spending money on your entertainment because you know that the money could be spent on more practical things, you probably like the idea of finding fun activities that don’t cost a lot of money. Or even better, discovering new ways that you can get enjoyment without dipping into your savings or compromising your financial goals.
Maybe you are saving up for a deposit to buy a property or you simply want to carefully manage your money so you can afford other aspects of your lifestyle preferences like fashion or driving a car that you like. If you have financial goals that you are aiming for, it doesn’t mean you have to compromise on having fun, you might just need to find some activities that do not put a strain on your money.
There are lots of activities that are completely free if you enjoy calmer experiences like outdoor walks but if your preferred entertainment involves something more thrilling then you might find yourself short of options. Guilt-free fun options are hard to find but there could be some exciting options that you are yet to discover.
Budget-Friendly Entertainment Options
Here are some ideas for how you can reduce entertainment costs without missing out on some of your favorite activities:
Free Audiobooks and eBooks
You do not have to pay a monthly subscription for your audiobooks or eBooks if you find free alternatives. In Canada, for example, you can use sites such as Libby and Hoopla and there are also some free audiobooks and podcasts on Audible that you might enjoy just as much as your paid-for content. If you limit the number of monthly subscriptions you have going out of your account, you could quickly build up savings from this expenditure.
Free Online Games
Purchasing video games is not cheap but there are lots of free options for games through Steam and mobile games can be downloaded for free in the Apple Store or Google Play. Start exploring games that meet your usual preferences before you look at downloading paid for games. Some popular games like Fortnite and Call of Duty can be accessed for free and there are platforms that offer browser-based games such as Poki which has a large library of free online games.
Online Casino Games: Demo or Bonus Optimizing
Playing online casino games is another exciting type of entertainment that you can access for free or with a small budget. Many operators who provide games for online casinos offer demo versions of games so that you can play for free without staking any real money.
You can also find lots of bonus offers on pretty much all online casino platforms in Canada, where you can get free spins and deposit matches to extend your playing time. Before you register with a new casino it is a good idea to compare the available bonuses to see which ones will make your money go furthest. For example, some online casinos offer up to 300 free spins, while others only offer small numbers like 20 free spins.
Another detail to look out for is the wagering requirements, as most bonuses will have terms attached such as needing to wager a multiplier of the bonus before you can claim it. Some online casinos have smaller wagering requirements of around 20x to 30x the wagering amount, while the larger ones of around 50% are much harder to achieve if you are not playing on a regular basis.
There is also a chance you will increase your funds through wins but it is important to make sure that you do not go over your budget and there are responsible gambling tools that can help you to stick to your budget.
Managing Your Fun Budget
If you want to find other activities that you enjoy but you want to keep a tight handle on your finances, creating a separate ‘fun budget’ from your essentials and savings can help stay on track with your finance goals. To avoid feeling guilt at the end of month when you review your spending, knowing that you have stayed within your budget will give you peace of mind.
Calculate how much money you want to put towards your fun budget after taking out essential outgoings like bills. A popular money management strategy to achieve guilt-free fun is to ensure you stick to a formula, such as essentials (70%), savings (20%) and fun (10%). This way, you know that you are working towards your financial goals while still enjoying the things that make you happy.
