How much is too much?

[BabyTyrant]

Just wondering how much you guys think is "too much" to spend on gaming

By gaming I mean the whole thing including Consoles/computers, TVs (or a monitor), Games, accessories, etc.

I think it is well worth it to spend more money at times, gaming has truly evolved to be a much nicer experience than it used to be

I mean you still have "retro" games for people that prefer that style (or they can stick to older systems or games) but theres also the more hardcore/realistic segment

I have spent a decent amount of money on my TV, console, and so on (well I didn't buy $200 controllers like some people do) and I dont regret it.

I'm always a bit behind on gaming (I didn't get a PS4 at first, having waited over a year to get one at a cheaper price and be able to buy games at cheaper prices) but that just means I can get more out of my money

To me going much above $300-$400 on a system is too much,

On a controller $60 is probably the absolute highest I would ever go

though even that is unnecessary as prices have gone down on controllers, on games I usually spend closer to $30-$40 at most.

I do have to say though if the PS5 ends up as good as its supposed to it may be the 1st time I ever buy a completely brand new system; and that is allegedly gonna cost $500 upon release

So what is your take

 

[Calico]

You can never spend too much if you are still paying your bills and not going broke. I have like over 700 video games and that is from all the years I had been buying them since I was 15. Most of them I got used and I got them way after they had stopped making them because they are cheaper then.

 

[Zyzygy]

For me, there are two things that go into spending too much on games. First, if you buy games and then never play them. I'm not saying if you get a bundle of games on Humble Bundle just for one game and don't play the rest that's spending too much; however, if you go on the Steam sale and buy a bunch of games and never play them, then that's too much since you basically just wasted money you could have spent on something you'd get use out of. The second point has already been brought up, but if you're not in a good place financially and spend money on games then that's also too much.

 

[BoundCoder]

As others have said, how much is dependent on your financial situation and priorities.

When it comes to personal finance, my stance is:
1. Pay your bills.
2. Pay off any unmanaged debt.
3. Sock away some money for a rainy day (a so called emergency fund). Usual recommendation is 3 to 6 months living expenses (not counting things like EI or assumed spending cuts..).
4. Invest in your retirement. Figuring out how much you should be investing is hard, but I think 20% of pre-tax income is a good recommendation. As you get closer you will have a better picture of what your post retirement expenses will be and how your investments have panned out, so you can adjust as required.
5. Put some amount into short term savings for predicted upcoming expenses (your next car, next house maintenance project, whatever).

After you've done all that, whatever you spend the remainder on is entirely up to you. If you want to spend it all on video games, that's fine. If you want to save some of it up and take a nice trip, also fine. Want to pay your mortgage down faster or pump more into your investments in the hopes of retiring earlier, go for it. Want to blow it on some stupid sports car you'll hate in 3 months.. again, your choice. As long as you can pay your bills, aren't buried in debt, and are securing your future, whatever you do with the leftover comes down to your own priorities.

I do think it's extremely beneficial though to have a good idea of what that chunk you're free to spend is. This is budgeting 101, but a shockingly high number of people couldn't tell you how much their basic month to month expenses are. It's nice knowing "I have exactly $x to spend this month on whatever the hell I want", and the only way to get there is by actually knowing how much you need to spend on other things first.

I also think it's important to remember that money is a tool, not the end goal of life. There is always something better you could be spending your money on, but ultimately you can't buy back time or your health. You have to find a balance between putting away for the future and enjoying your life in the now.