Budgeting for online Gameplay

Playing games online can be fun but if not done in a safe and sensible manner, it can be very costly. Playing online is a similar practice to everyday money management and investing. Game play can be lucrative but only if the money is managed well. Firstly, it is important to separate out any money that is to be used for gaming from the everyday budget money. Separate a chunk of monthly money that can be used for playing and keep it separate. There should be no dipping into this “pot” for other items and likewise dipping into the everyday financial savings is a no-no. Players will often ask, “What is the amount that should be separate?” This simply depends on the overall amount a player earns. Gaming money that is set aside should only be that amount that the player can afford to lose. Don’t overplay or place bets that if lost, can destroy one’s finances. Be honest about it and separate only the money that can afford to be lost at no harm to one’s livelihood. Following on from this, players need to be able to change their limits. Sometimes these can be greater, sometimes less. This can even vary on a month-by-month basis depending on successes and failures. There is also an investment term ‘stop-loss’ that should be applied to online gaming. This is simply when a player loses so many times that the entire saved pot of money disappears. Players should understand when they have reached their limit and quit and start again afresh in the next month. Sometimes the size of the money set aside can determine which games and how many a player can play but slow and steady wins the race. Start off small and build up as the winnings do.