Do we really spend that much money on entertainment any more? I think the sinking revenues of the movie industry suggest that people’s preferences for entertainment have changed in the past few years. People are being more strategic about how they spend their entertainment money. They may eat out less if they want to save up for concert tickets. Or they may spend a day traveling to a national park rather than spend a fortune visiting a theme park.
Assuming you’re not yet in the “I’m spending too much money on entertainment” category, have you thought about where your money is going and why?
Something I’ve noticed is that the larger the household, the more money people tend to spend on their personal entertainment activities: more streaming services, more gaming subscriptions, more movies, etc. Some families don’t spend that much time together, and the situation worsens as the kids grow older, get jobs, or go off to school.
The Basic Rules of Fun Money Don’t Change
Whether you earn a million dollars a year or $20,000 you still make choices about what you’re spending that money on. The more discretionary income you have the more likely you’ll invest some or all of that money. So entertainment budgets don’t change much as people grow their personal earnings. The typical money trap many people fall into when they earn raises or take higher paying jobs is they buy more expensive homes, automobiles, and clothing. They take on more debt to live a basic lifestyle.
While personal entertainment can be a great expense, we tend to spend money on the same things as adults that we enjoyed doing as teens. Gamers like to game. Sports enthusiasts like to play sports. And people love watching movies or reading books throughout their lives.
To truly save money on entertainment you’ll need to find new interests, or new ways to pursue your favorite interests. Saving money on entertainment doesn’t have to mean sacrificing fun or missing out on enjoyable experiences. It just means you need to think about the ways you invest your time and resources in having fun.
Inflation Drives Up Costs Everywhere
The biggest problem for all of us is that inflation has crept into nearly every aspect of the fun economy. Restaurants and venues are under pressure to pay their employees “living wages”. Any business that faces increasing labor costs will either cut back on employees, raise prices, or do both.
And then the entertainment businesses we rely on are also facing inflation in the costs of the goods and services they buy from other companies. So inflation has a snowball effect on the economy, which in turns forces consumers to pay more.
The only places where rising costs don’t make sense to me are in streaming services. They keep raising their subscription prices but they haven’t shown how their costs keep rising. Sure, they have to pay their employees more money, too, but a typical streaming service doesn’t hire more than a fraction of the workforce a cinema chain would hire. So I think we’re seeing more greedflation in online entertainment than real inflation.
All that aside, here are a few suggestions for ways to reduce the cost of having fun without giving up on the fun itself.
Save Money with Free Entertainment
Attend free community events. Many towns and cities offer a variety of free events, such as concerts, festivals, and outdoor movie screenings. These events are often sponsored by local businesses or the municipality itself and can provide high-quality entertainment at no cost. Keeping an eye on community bulletin boards, local newspapers, and social media pages can help you stay informed about upcoming free events in your area.
Some of the local parks in our area sponsor movie nights throughout the summer. They’re great fun for kids and families in general
Use your local library’s resources. Libraries have evolved beyond just lending books. Many libraries now offer DVDs, CDs, and digital downloads of movies and music. Additionally, libraries often host free events such as author talks, book clubs, children’s storytimes, and even movie nights.
Some libraries also provide free or discounted passes to local museums and cultural institutions, making it easier to enjoy educational and cultural experiences without spending a lot of money.
Spend more time outdoors. Outdoor activities such as hiking, biking, and picnicking are often free or very low-cost. Visiting local parks, beaches, or nature reserves can provide hours of entertainment and an opportunity to enjoy the natural beauty around you. Bringing along a packed lunch or snacks can further reduce costs and allow for a more extended outing.
Save Money with Home-based Entertainment
Create your own fun at home. Hosting game nights, movie marathons, or potluck dinners with friends and family can be just as enjoyable as going out.
Invest in a few board games or card games, which can be reused multiple times for different gatherings.
Streaming services often offer free trials, allowing you to explore their content without committing to a subscription.
You can also find plenty of free or low-cost activities online, such as virtual escape rooms, trivia nights, and live-streamed concerts.
Another strategy is to bundle your streaming services. Instead of subscribing to multiple streaming platforms individually, look for bundle deals that combine several services at a discounted rate. Some telecommunications providers offer packages that include multiple streaming services, providing access to a broad range of content at a lower overall cost. This way, you can enjoy your favorite shows and movies without paying for multiple subscriptions.
Save Money with Discount Entertainment Events
Discount days and student or senior discounts can save you up to 30% on normal costs. Many theaters, museums, and other entertainment venues offer discounted admission on certain days of the week or month. If you are a student or senior, be sure to carry your ID, as you might be eligible for additional discounts. These reduced rates can make it more affordable to enjoy activities that would otherwise be out of your budget.
Many entertainment venues, such as amusement parks, zoos, and museums, offer season passes or annual memberships. These can be more cost-effective if you plan to visit multiple times throughout the year. Group discounts are another option; organizing a group of friends or family to go together can often result in significant savings on ticket prices.
Matinee shows offer simple yet effective savings on movie tickets. Many theaters offer cheaper ticket prices for matinee shows, which typically occur before 5 PM. By opting for an earlier showing, you can enjoy the same movie for a fraction of the price you would pay for an evening show. This can be particularly beneficial for families, as the savings can add up quickly when buying multiple tickets.
Volunteering at events is another creative way to enjoy entertainment without spending money. Many festivals, concerts, and other events offer free admission or other perks to volunteers. By volunteering a few hours of your time, you can gain access to the event and sometimes even receive additional benefits like free food, t-shirts, or backstage passes. This not only allows you to enjoy the event but also provides a chance to give back to your community.
Conclusion
If you’re not spending a lot of money on entertainment and you feel like you’re not having enough fun, I hope the above ideas help you find ways to expand your social activities. Life is better when we can spend time with friends and family.
You shouldn’t need to sacrifice your quality of life just to make ends meet or save money for the future. Your entertainment budget should be efficient but tailored to meet your needs. You want your fun to be challenging, interesting, and affordable. But it should also be varied enough that you continue to have fun instead of just going through the motions.
Most Americans feel like they are struggling to stretch their money more than a generation ago. You’re not alone if you feel that way. But if you haven’t simply gone walking around your neighborhood (or a large community park) in a long time, remember that it isn’t just good for your physical fitness – it’s also good for your mental health.
You can have fun walking and talking with friends, or having dinner with them, or playing games, or listening to music, or watching movies. You don’t have to do things in all the same places all time. And you don’t always have to pay for them.