The ninth generation of video gaming has arrived, and it’s certainly not cheap to get into the latest and greatest that the entertainment industry has to offer. At $499 for the PlayStation 5 or Xbox Series X in 2020, both consoles can undoubtedly be considered luxury products.
In what might be a blessing in disguise, Sony and Microsoft have struggled to keep up with the demand for their new game devices. The PlayStation and Xbox sold out incredibly quickly following ill-executed pre-order periods and a follow-up pre-order stint. Now, both look to be out of stock for a little while, giving people plenty of time to see how the early adopters react to the new tech and save money if they find them appealing.
So, here’s why you’ll need to put away the pennies to get into this latest phase of world-class entertainment, as well as some useful ideas to help you acquire the cash to get involved.
Expensive hardware backed-up by expensive software
While each new console line features a fully-fledged version for $499, they also offer disc-less versions at a reduced price, resulting in a hardware downgrade and limited storage capacity. Overall, players looking to buy into the new generation will have their eyes on the full-priced models as they offer the pinnacle of modern gaming.
However, as there’s superior technology within the consoles, the software will also be more expensive. Publishers 2K Games and Activision, who supply games to both consoles, have confirmed that their games will now be $70 instead of $50. The same goes for all of the highly-anticipated first-party titles from Sony for the PS5, with the likes of Godfall and Demon’ Souls being $70 at launch.
With so many incredible titles, such as Immortals Fenyx Rising, God of War: Ragnarok, Yakuza: Like A Dragon, Far Cry 6, Horizon Forbidden West, Halo Infinite, Hogwarts Legacy, and The Lord of the Rings: Gollum on the way, gamers will want to start saving money now for the hardware and software.
How to save for next-gen gaming
Saving money is rarely seen as an easy or enjoyable task, but as so many people search online to save money, companies have devised online-based methods to do so.
For homeowners, the largest outgoing every month goes to the bank, in the form of a mortgage. However, with higher costs comes a greater opportunity to save money. For example, in the UK there is the online mortgage comparison tool offered by Trussle. Mortgage owners can find cheaper remortgage rates to save money each month, and would-be homeowners can ensure that mortgage repayments will be as low as possible. By searching for mortgage deals from 90 lenders, they will help you find a suitable mortgage. Tools such as this will offer guides and suggestions to help you save money.
If saving money on your mortgage isn’t an option, you can follow a more rudimentary approach. First, you need to record a hard copy of your outgoings and then see which areas can be cut. This step will help make you more aware of your spending, enabling you to identify occasions when you’re needlessly spending money. With this in mind, you can put extra cash to one side and track it as your savings grow.
Given the cost of the games and the consoles, you may find a gap between when you can get the console for $500 and how long it takes to save for a new $70 game. Luckily, both consoles come with free games to enjoy in the meantime. The PlayStation 5 comes with Astro’s Playroom, with War Thunder, and Fortnite to play for free, while the Xbox Series X is exactly the same as the Xbox One – so, all of its free games are available on the $500, much larger console.
It’s an exciting time, if not an expensive one, for gamers, but there are some easy steps to take to enable you to save money for the latest generation of video gaming.