Gaming is one of the most expensive hobbies out there. Not only do you have to drop hundreds of dollars on a console or a quality PC, you also need to pay up to $60 for any top tier games. Even with membership discounts and sales, those numbers can add up quickly. But the sad truth is, economically, video games should cost way more than they already do.
Let's get some perspective here. In 1990, NES cartridges were selling for $50. And in 1998, N64 games went for $70. If we adjust these prices for inflation, you would pay about $100 for these games today. One-hundred dollars. This means that your current games are underpriced by at least $40. However, the shortage is probably much more than that.
In the '90s, video games had very basic graphics and simple gameplay. Producing one of those games today probably wouldn't cost quite as much. However, as our technology has advanced, the gaming industry has had to keep up. Gamers expect more content, HD (and even 4K) graphics, involved storylines, voice acting and high-quality animations. Not to mention support and updates after launch. That's not even touching marketing budgets. It costs more to produce a game now than it ever has in the past.
But if games should cost more, why are they still $60 a pop? The market is keeping the price artificially low. Customers aren't likely to pay more than $60 for a game, even if it actually costs more money to produce one. This situation is why pre-order bonuses, DLC, and micro-transactions have become so popular and widespread. It is becoming increasingly harder to make a profit in the gaming industry. Developers have had to supplement their base game purchases with add-on content just to scrape by.
Pre-order bonuses give gamers a little something extra in-game on day one when they buy ahead of time. This often boosts profits slightly ahead of launch. They also lock in a certain percentage of sales. It gives publishers an indication of how many copies to manufacture and how many people will be downloading a digital copy.
Nowadays, almost every AAA game features some kind of extra downloadable content. Sometimes this is new weapons or maps for a shooter. Other times, it's an extended story piece. Creating DLC takes much less investment and allows developers to earn more cash on an existing property.
However, what is relatively new and unsettled territory is micro-transactions in a full-priced retail game. In the mobile market, free-to-play games that feature some kind of in-game shop are a dime a dozen. But this kind of model in a $60 game is still pretty controversial.
One example of a successful AAA game with micro-transactions is Overwatch. Players can enjoy the full cast of vibrant characters and maps with no additional charge. But to support future updates and server loads, players can purchase loot crates full of goodies. These goodies ultimately have no real impact on gameplay. They are mostly aesthetic skins and items for bragging rights. You can also slowly earn enough in-game currency to open loot crates by playing normally.
The gaming industry is struggling to keep up with constantly evolving technology and consumer purchasing habits. Developers and publishers have to sell more and more of each new title just to make a profit. This situation might explain why so many publishers re-cycle franchises into sequels so often, rather than taking the time and effort to develop new titles.
Spring may be the most popular time to list, but people need to buy homes in every season. Follow some simple steps to get your home sold in the winter.
Sometimes there is no choice—a home needs to be sold in the winter.
Spring may be the most popular time to put your house on the market, but homes do sell in the colder months. With fewer houses available, your home may be someone's only choice when house hunting in your neighborhood. As your neighbors hold out until spring, you'll already be done and ready to shop for your next house!
Here are a few tips for selling a home in the winter to get you on the right track.
Keep Paths Safe and Landscaping Fresh
Landscaping is the last thing on a homeowner's mind in the winter. Everything was cut back in the fall and may now be covered in snow. Still, take a walk around the house and yard to check everything out. Branches may have fallen from heavy snow, leaving a mess in the yard. Keep everything neat and tidy.
The last thing you need is a potential buyer slipping on the ice-covered walk in front of your house. Buyers often consider those moments bad omens, and this can affect their decisions. Shovel, snow blow, spread salt—do whatever you have to do to keep the driveway and walking paths clear, and don't forget the porch and deck.
Make the Inside Warm and Cozy
In cold weather, buyers won't spend a lot of time examining a home's exterior. Instead, impress them with the inside by creating an atmosphere which causes them to want to move in.
When there's time, leave wintery types of snacks and drinks, such as hot cocoa and cookies, available on a table during showings. This gives your home a welcoming feel to buyers.
Light the fireplace (if you have one) for a lovely ambience and set your thermostat to a comfortable setting. A warm home in the winter is much more appealing than a chilly one.
Make Your Home Less Personal
Understandably, this can be a tough thought for homeowners. After all, you've spent years creating memories in your home. To buyers, though, they need to picture it as their own. Too much personality makes that difficult.
It's always important to stage your home in a way that makes it look clean, comfortable, and move-in ready. Don't feel offended by the idea of taking family pictures down and replacing them with generic décor. This will help your home sell faster by helping buyers envision their own things there.
Cleanliness and Maintenance
Clean, clean, and clean some more. Make appliances, counters, and floors shine. No matter how old your home is, it needs to feel like new to potential buyers. If you aren't into dusting, now is the time to try. Don't forget window coverings that might need washing.
Be prepared ahead of time for home inspections by taking care of maintenance now. HVAC systems, plumbing, and electrical should all be up to code and running smoothly.
Use these tips for selling a home in the winter, exercise patience during the slower months, and your home will sell before you know it.
Entering your 20s means you'll quickly need to learn how to navigate the world of personal finances, much of which you probably didn't learn in college or high school courses.
Without any previous lessons on finances, it can be challenging to know where to start. Follow this guide as we outline the financial decisions you'll need to make in your 20s.
Setting a Budget
The first step to being a fiscally responsible young adult is setting a budget. Your budget will determine many future financial decisions, from where you can live to what splurges you can make. Look at the expenses you currently owe every month and your projected income to determine how much you should be spending on bills, daily expenses, etc.
Tackling Debt
Getting rid of your debt as early as possible is a critical step for newly independent 20-year-olds. However, some may not be able to get rid of debt as soon as they hope. Once again, look at your budget, then decide if you'd like to put more toward tackling debt now or pay your loans as they come.
Getting Coverage
While you may be able to hold onto your parents' insurance until 26, you'll have to choose your own plans sooner or later. From health insurance to renter's and car insurance, you shouldn't skip an opportunity to cover yourself in the case of an accident. Find a provider and plan you're comfortable with, and get your coverage as soon as possible.
Saving for a Rainy Day
Navigating how to save is another critical financial decision you'll have to make in your 20s. Living paycheck to paycheck is not a sustainable course of action. Even putting a small portion of your wages into a savings account can make a big difference—especially if an emergency you didn't prepare for occurs.
Starting To Invest
Investing is a scary topic for young adults, but it's a great way to build wealth. Starting to invest as a young adult will set you up for success on your long-term financial plan. However, be sure to conduct research before jumping into the market to decide when, where, and how much you'd like to invest.
Your 20s are an optimal time to learn and grow. One area of life you'll undoubtedly learn a lot about is managing finances. Use this guide to help you get started on the path to becoming a fiscally responsible adult.
Tax deductions can be tricky to understand if you're new to the finance world.
One of the biggest sources of confusion is knowing what you can and can't deduct from your taxes. Deductions can be a massive financial boon for a lot of people, yet not everyone files for them correctly. This causes people to miss out on money that should be theirs. We'll go over some of the most common tax deductions that are overlooked, so you don't get shortchanged when Tax Day comes.
Charitable Contributions
When you start regularly giving to charity, even if the donations are small, you'll want to start getting itemized receipts for your donations. These receipts will help you write off these charitable contributions on your taxes. You can even write off supplies that you bought for use in a charitable cause or any miles you drove on your car while in service to a charity. Make those donations to the Purple Heart Pickup with an open heart, but make sure you get your deduction on top of that.
Student Loan Interest Payments
Student loans take up a significant amount of a lot of people's money. If you're one of these people, make sure that you get a deduction on the amount of interest you paid off in the last year. What's important to remember is that even if you aren't someone's dependent, you can write off the money someone else gave you to pay for said student loans. If someone else helped you pay off part of your loan, don't think that means you can't still get a deduction on that sum.
Child and Dependent Care Credit
If you have a reimbursement account through your job that pays for child or dependent care, you might be forgiven for forgetting about this particular tax credit. However, you can use these funds for a tax credit if you file for them correctly. This is hugely important because this is an opportunity to receive a full tax credit, not just a deduction. You're losing money you could be directly receiving if you don't file for this credit.
Jury Pay Given to Your Employer
A lesser-known tax deduction that often gets overlooked is the money you can deduct from jury pay you gave to your employer. It may not be the most exciting thing to come out of jury duty, especially after handing over any money you receive to your employer, but you do get to deduct however much money your employer made you hand over after you finished jury duty.
Credit for Saving
While this credit is more for people that are working part-time or for those that have a retired spouse, you can get a tax credit for contributing to a 401(k) or another retirement savings plan. This is also a great incentive for those that are just starting out in their careers and need another reason to start saving for the future.
