Should we level up our spending on this hobby? Or is it game over for our budgets?

Answer: $76 per month on average

Questions:

• What are the benefits of spending on gaming? Are there any negative consequences of spending this much on a hobby?
• What are the opportunity costs of spending money on gaming? What else could you do with $76 per month?
• Do you think spending $76 per month on gaming provides good value for the money? Why or why not?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Yahoo!):

"A recent survey by All Home Connections found that the average gamer spends about $76 a month on their hobby, or $912 a year. The average life expectancy is 78.79 years, and assuming that gamers started gaming at the age of 12, that amounts to $60,912.48 over a lifetime.

Millennials as a cohort spend even more than the average gamer overall: $86 per month, or $1,032 a year. If an average millennial started gaming when they were 12 and lives to be 78.79 years old, they’ll have spent $68,927.28 on their passion for gaming. Gen X spends a pretty penny too: $62 a month ($744 a year) and $49.691.76 over a lifetime, assuming they also started gaming at age 12. Unsurprisingly, baby boomers — whose childhoods weren’t necessarily filled with gaming consoles — spend the least: $52 a month (or $624 a year) on gaming."

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About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

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