How To Enjoy Entertainment On A Budget While Managing Debt

Many of us have seen our income and finances take a considerable hit in recent years. Whether it’s due to the cost-of-living crisis, unemployment, high rates of inflation, or global trade wars that have heralded higher price tags on everyday goods, our bills have increased while our income has decreased.

For those of us with debt to manage, it can seem like a serious challenge with no light at the end of the tunnel, but as difficult as it can seem it is important to budget for entertainment.

Entertainment

Entertainment can take many forms, from board gaming to hiking. TV and movie subscriptions, as well as video gaming subscriptions, are popular forms of entertainment.

Online casinos also offer exciting games that can be played from home, with sites like Wild Robin offering considerable bonuses as well as huge catalogs of popular casino games. Anyone can learn more about the site and its game options, while enjoying access to regular cash prize tournaments, thousands of titles, and attractive freebies. Whatever your preferences, there are ways to help ensure you can still enjoy the things you love while staying on top of your debt.

Budget

One key factor in managing debt is accurate and thorough budgeting. List all of your incoming money, as well as your outgoing expenditure. Be honest and, if necessary, take a month or so to track all of your finances. Budget for essentials, such as food and rent, as well as for your regular debt repayments.

Try to save some money as a contingency, so if there is an emergency or you are hit with an unexpected bill, you have the finances to meet the demand. As well as tracking your ongoing income and expenditure, also maintain a list of your debts and how much you owe.

Check Subscriptions

Many of us have subscriptions for services like TV and movie streaming services. Gaming websites and platforms like Xbox Game Pass and even Board Game Arena all have subscription costs associated with them.

Some of these services offer tiered memberships and you may be able to save some money that you can use for other purposes by dropping down a tier, or even opting for free ad-supported subscription tiers. Make sure you’re not doubling up on any subscriptions, in your household, or paying for any unnecessarily.

For example, you might have received a free Game Pass subscription with your phone package, which means you shouldn’t be paying for it separately. And, if you and your kids have Netflix or Spotify subscriptions, you could save money by combining them into family subscriptions. If you can afford to, pay for subscriptions annually to benefit from the reduced prices this usually offers.

Beware Your Credit Card Spend

It can be beneficial to use a credit card for major purchases, although you should always take care when using a line of credit like this. And, if you use a credit card or other payment method to pay for subscriptions or other entertainment packages, ensure you’re not getting hit with payment premiums.

Some purchases might be considered cash advances when paid for on a credit card, and these attract some of the highest fees. With that said, you should also check your credit card deals and your bank accounts to see if they have any deals on purchases you make regularly or subscriptions you pay for.

Make The Most Of Offers And Bonuses

Most services and companies run special offers or deals. Such deals might be run around black Friday, in the run-up to Christmas, or at seemingly random times. If you can time your purchases to coincide with these periods, you could save a good amount of money. Other companies naturally offer bonuses throughout the year.

Online casinos, for example, regularly run bonuses to attract new players as well as offers for existing players. Pubs, restaurants, and other venues will have deals running during the week when fewer people go out, and this could offer a great way to enjoy food and drinks without blowing your monthly entertainment budget in one go.

Cut Down On Nights Out

Nights out are expensive. There are ways you can save money when you go out. Consider walking to the pub, or getting a bus into town, rather than paying for a taxi or an Uber. Don’t buy a new outfit for every night out, and look for cheaper places to eat.

Make sure you’re not too hungry when you head out for a meal, or you will naturally order more food, and avoid the most expensive food and drinks on the menu.

Also, try to cut down on the number of nights out you enjoy. If you currently go out for coffee twice a week, cut it down to once a week. If you go for a meal out every week, try to reduce it to once a fortnight.

Only Take What You Want To Spend

When you go out, have a clear budget set before you leave the house. Take cash, rather than using bank cards or mobile payment facilities, and only take out the cash you’ve budgeted for the night. You should still take your phone, in case you need to get home in an emergency, but if you know you’re only supposed to spend the cash in your wallet, you will be less inclined to overspend.

Check Out Free Events

There are lots of free events taking place in towns, cities, and rural areas across the country. These can range from free music festivals to poetry readings and shows. Some entertainment is naturally free, such as walking, and local groups tend to arrange free or nearly free events to attract new members.

Check your local library, Facebook groups, and notice boards in your area to find details of these events. You could find fun new forms of entertainment while making new friends and saving money.