Looking to have some fun without burning a hole in your wallet? Look no further. Here are some great ways you can save money on entertainment. What’s your favorite?
Average Entertainment Spending
According to the Bureau of Labor Statistics, in 2010, the average American consumer unit spent $2,504 on “entertainment.” If you include “food away from home” as entertainment (like we do in our household), that adds another $2,505 of spending. Altogether, the average American consumer unit spent $5,009 on what we consider to be “entertainment.”
You might be wondering what what a “consumer unit” is. The Bureau of Labor Statistics describes it as “families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses.”
Without getting into our financial details, I can tell you that our family entertainment budget is significantly lower than the average American household. How about yours?
How You Can Save Money on Entertainment
You too can save a lot of money on entertainment. Here are a few ways we save money on entertainment at our house.
Netflix has been a huge way we’ve saved money on entertainment. With Netflix, you can instantly watch unlimited movies and TV episodes streaming over the Internet to your TV via a PS3, Xbox 306, Wii, Apple TV, or any other Netflix-enabled device.
We’ve had Netflix off and on for some time now, and have found it to be a nice alternative to expensive cable packages.
Redbox is another great way to save money on movie rentals. With prices well below $2 per movie per night, it beats paying $4 or more at a walk-in video rental store.
There are also great coupon codes you can find for Redbox movies online. Simply do a Google search for “Redbox codes” and you’ll find a few free promos. We’ve also found free Redbox movies come with other purchases, such as Totino’s pizza for a limited time.
3. PerkStreet Financial
PerkStreet’s Cash Back Debit MasterCard allows you to spend responsibly (without going into credit card debt) and get rewarded at the same time.
How so you ask? It’s easy. Whenever you use your card you’ll get 1% cash back on your purchases. There are also other ways to make as high as 5% cash back! Then you can use your cash back at popular restaurants and stores such as:
- The Olive Garden
- The iTunes Store
- and many more!
Trust me, you can save a lot of money on entertainment this way. We save over $300 per year on entertainment by using PerkStreet’s card. If you’re not sure about it, check out a full-length review of PerkStreet.
4. The Good Old Fashioned Envelope System
The envelope budgeting system can save you a great deal of money when used properly. If you’ve found that you’re spending like the average American household and want to do better, try putting cash into an envelope labeled “Entertainment.”
When you spend cash, you’ll feel the pain as you hand over money to the cashier. Sliding a card is sometimes too easy, and keeping cash in an envelope is a nice visual reminder of exactly how much you have that you can spend.
5. No Cost Entertainment (Did Someone Say FREE?!?!)
Yes, you can have a good time for free – spending money is not required! Here are a few ideas to get you started:
- Take a walk through the park.
- Pull out some old board games and play a round (I suggest Monopoly).
- Attend a community art show.
- Attend a high school play.
There are many more free entertainment options out there, you just have to be creative and know where to look! Before you know it, you’ll be spending less on entertainment than the average household.
How do you save money on entertainment? Leave a comment below!