The Power of Computer Games: How They Influence Children's Money Spending
Despite the increase in spending on games, there are supporters of the idea that they can still bring benefits to young people and that fears are exaggerated. However, on the other hand, there are those who recommend that parents set clear limits on spending on games.
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Games, especially computer and mobile games, have always been a popular form of entertainment, especially among children. And in recent years, with the popularization of online games and games that use microtransactions, they have become more than just a hobby. They can directly influence children's spending money.
The microtransactions
Online games, mainly computer and mobile games, are known to use so-called microtransactions, which are in-game purchases. Typically, these purchases involve purchasing virtual items that can improve the player's performance or provide in-game perks. Lots of children and teenagers love these games and often end up spending money on these purchases. The problem is that these purchases can quickly become addictive and lead to debt. The global online microtransactions market is forecast to grow from US$67.94 billion in 2022 to US$76.66 billion in 2023 (about R$330 billion in 2022 to R$370 billion in 2023).
What do the experts say?
Research shows that many gamers, especially children, have difficulty controlling their spending in-game and end up spending more money than they can or should. They can also become obsessed with acquiring every item in the game, which can lead to ever-increasing spending. However, this trend is generating reactions from some experts and consumers. Some companies have committed to releasing new games without including in-game purchases.
Sarah Mills, professor of human geography at Loughborough University (United Kingdom), revealed to the BBC news agency the results of his research, demonstrating that gambling strategies have the effect of prolonging players' playing time, increase your expenses financially and encourage repeat purchases. Vicki Shotbolt, CEO of Parent Zone, an organization dedicated to helping parents manage their children's digital lives, describes several strategies games use to encourage purchases.
Firstly, when spending, players have the opportunity to "escape the grind": making an in-game purchase avoids the need to dedicate hours to a monotonous game just to progress through the levels. The approach behind this was called "painful fun", also known as fun pain: there is a possibility of missing out on something meaningful or more pleasurable if you decide not to make a purchase. Meanwhile, deception strategies, such as in-game virtual currency, make it difficult to see the real amount being spent.
Another strategy involves the use of loot boxes ("Reward Crates"): Players acquire a crate without knowledge of its contents. Inside, there may be an item that brings significant benefits to the game; however, on most occasions, the prize consists of only one customization without relevance. According to Mills, "Young people feel ashamed when they reflect on the amount they invested in the search for a rare item, even if they were successful in that endeavor."
Although spending has increased, there are those who argue that games still can bring benefits to young people and that fears are exaggerated. On the other hand, some experts recommend that parents set clear guidelines for spending on computer and mobile games, and closely monitor their children's purchases. In addition, it is important for parents to educate their children about personal finances, helping them to understand the value of money and the importance of controlling expenses.
Previous studies have shown that computer and mobile games can, to some extent, be a source of fun entertainment and promote the development of cognitive skills for children, as well as having the potential to relieve stress and combat loneliness as adults. But it is worth mentioning that they can have negative impacts when it comes to overspending.
Control and protection
Protecting your teen and your bank account can be challenging for parents as keeping up with emails, passwords and cards Registered payments across multiple platforms and devices can be difficult. However, there are measures that can be taken to ensure this protection. You can use child-specific accounts and parental control tools to disable purchases or set a spending limit. Guardians have the option to set up email notifications to receive alerts on purchases and use gift cards instead of credit cards.
