CLAY COUNTY – If your children play video games, start saving your money now.
Sony revealed the PlayStation 5 console last week on June 11 alongside a lineup of games coming to the system later this year. I could wax on about how exciting this is and how much I love video games but that’s likely not what you, the parent, wants to read. I am instead writing a suggestion in the form of a story for you and your wallets.
If your child plays video games – it’s hard to find a child not obsessed with free-to-play game Fortnite – there’s a good chance they’re playing games on either the Xbox One or the PlayStation 4. Both of these consoles were released in 2013. Video games come out every year, month and week. Consoles, on the other hand, come out about every seven years. These transitions from one console to the next are known as generations within the industry.
Because the PlayStation 5 is not yet out, it’s referred to as next-generation. The next-generation Xbox system, the Xbox Series X, is due out this year as well. All of this is to say that when video games transition from one generation to the next, it’s a very big deal. Why does this matter to you?
It matters because there’s a good chance your child will be asking for either the PlayStation 5 or Xbox Series X here pretty soon. If they play video games with friends, all it takes is one friend to get a “yes” to the request for one or both of these new consoles before your child comes tugging at your wallet.
Start saving now.
The PlayStation 4 launched at $399 back in 2013 with the Xbox One launching at $499. No official price has been announced by either company – it’s believed that both are waiting for the other to say something first so that the other can price gouge the other – but widespread speculation by industry insiders place the new consoles at a price tag minimum of $499, with many speculating upwards of $599.
It’s totally acceptable for you not to spend this much on a console. It’s totally acceptable to tell your child that a day one purchase just isn’t possible. The year 2020 has been tough on wallets after all. If you are however planning to secure a day one purchase of one or both of these next-gen consoles, starting to save now wouldn’t hurt. I started saving as early as last year.
There’s a good chance your child is going to hit you with the one-two punch of puppy dog eyes and consistent begging – backed by promises of this or that of course – that I used on my wife last year. If you don’t want to make that purchase, stand strong, but if you do anticipate succumbing to that tried and true message, your wallet and everything else in your life will probably thank you for starting to save now instead of two weeks before the PlayStation 5 and Xbox Series X hit store shelves this holiday season.
Putting aside $100 a month will feel a lot better than relinquishing $600 on a seemingly random Friday later this year.