Saving for a Playstation 5: Cutting down and making it work

I got my Playstation 4 sometime last year and it has served me well. However, I've always felt like a time will come when I will have to upgrade.

I originally wanted to buy a Playstation 5 last year but I couldn't afford it. First of all, PS5 is very scarce. To make matters worse, in Nigeria at least, you can't get it for anything close to the official price of the game.

The official price of a Playstation 5 is $500 and even at the unofficial rate, that's roughly 290k Naira. In the market, the least you can get the game is roughly double this price.

I was talking to @daltono about this situation sometime in the past. I don't see myself spending $1k on a video game right now.

However, I reckon that if I decide to save for it, then the effect will be minimal. So to achieve this, I've created a way that will enable me save for the game through my @arsenal4life account.

It is nothing serious actually. I'll just be sending funds to the account from time to time and then putting it into savings.

When I get up to 600-700 HBD there, I may buy the Playstation 5 with the funds available. Again though, it still depends on what I have going on with life at that moment.

For example, if a health emergency comes up, I'll not be buying a Playstation 5 with the money.

Regardless of how much I save though, it is still going to be a very tough decision for me to part with such a huge amount of money for a game. However, considering that I'm devising a way that will enable me to save for the game without adversely affecting my finances, I think it is a good idea.

Cutting down

One of the things I intend to do is cut down my expenditure a bit more. It won't be anything substantial though.

I intend to trim expenses to enable me free up anywhere between $3-5 every day. Assuming I manage to achieve this, I should be able to save an average of $4 per day.

This means that in roughly 175 days or just a little bit over 5 months, I should be reaching my $700 target. It is a stretch but I think it is achievable.

Right now, I already live well below my means and spend on mostly necessities. I tend to splurge on alcohol, pizza and dates with the wife from time to time but technically, those are also necessities.

I don't even go out that much and have very few friends in my city. Sometimes I spend days at home and only go out just to remind myself of the world outside the living room.

I no longer have a gym membership but I reckon I'll get back on that soon. However, that only costs about $12 a month. I don't really enjoy going to the gym as much, especially since I could just go for a run instead and feel good.

I'm not really good at selling my properties but I think I'll sell the PS4 to add to my budget. I already have one interested buyer, however, when the time comes, I'll make the decision.

Anyway, the moral of the story is that I'll be cutting down my personal expenses to fund this purchase. I wish I was rich enough to just simply fund this expedition but I can't, so this is how it will be done.

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