Firstly, as a parent, we begin to become more and more budget conscious about where our money is heading each payday. We no longer put ourselves first and instead prioritise the well-being and needs of our family. We budget our weekly, fortnight and monthly expenses and deal with those unforeseen circumstances that arise. These unforeseen circumstances are normally dealt with through savings, gaming budgets and that bit of disposable income we have left each week so a large purchase can be tough at short notice.

It is these unforeseen circumstances and our willingness to put our families’ needs first that make our gaming purchases take a back seat with no complaints. Therefore, we regularly find ourselves trading in games or waiting until months after release to purchase a new game. It is definitely something you will not hear me complaining about, as my family is my number one priority, but sometimes I do like to make a day one purchase. This is where planning ahead and making small sacrifices comes into play and we will look at some basic calculations below.

Larger purchases like a brand new console are a large outlay of funds that will create some serious discussion with your significant other. So I want to help you with this discussion and assist you with picking up the latest console on day one. We’re allowed to spoil ourselves every once in a while so for this year it’s a new console. The next big console for Xbox fans is the Series X, so let us prepare for that day one purchase. This method does not just work for parents, it will work for anyone planning any type of big future purchases. You just need a starting point to begin building the foundation.

I know that we all do not need a nice, new launch day console and there are always options like trade-ins to help reduce the cost. But if we plan ahead we can have the console and not the associated financial stress.

My main tip for any saving like this is to use a separate online only savings accounts that has no card associated and no account fees to help with tracking progress and removing the chance for accidental spending. The funds in this account would only be used in the event of an emergency or for the purchase of the Series X

Now there are a lot of assumptions in these calculations as the facts out there on the launch date and price vary. So for my savings calculations I have used 1st November 2020 as a release date and just a hypothetical price of $800 and up to a $1000 with a couple of games to ensure appropriate financial coverage. All calculations are in Australian dollars but the same principles apply. With that date in mind, we still have roughly 38 weeks until this hypothetical launch date. Therefore the calculations as follows:

$800 / 38 weeks = $21.05 per week (approximately)

Or at $1000

$1000 / 38 = $26.32 per week (approximately)

So to make a launch day purchase on the 1st November 2020 you would aim for at least a saving of $21 a week, with $26 a week giving you a decent safety net for price variations or games and accessories. The extra could also be used for a nice gift for your partner, considering you just picked yourself up a brand new console. If you can save more that’s even better, but even at a minimum of $15 a week you will still have $570 which is roughly $80 less than the launch price of the Xbox One X. If you add trade-ins on top of these figures, you will have your Series X and a few great games at the local midnight launch.

So, if you are planning on a launch day Series X, why not start saving a minimum of $20 a week right now. It’s a small sacrifice with a greater end goal in mind. You could cut down on coffee (says the non-coffee drinker), make instead of buy your lunch or just put the money away on payday so that you do not spend it on unneeded incidental expenses. These little sacrifices will have a nice new console as your reward at the end. Then if you do not buy one on release, you will still have a healthy sum of money saved and a happy family who would love to help you spend it on something nice.

Planning ahead will make purchases like this so much easier.

Good luck with your savings and I’ll be right there with you every step of the way.

Remember to let us know how you go.

Xbox Gamer Dad