Savings goal
Saving for a playstation 5
Typical price $399–$699. Best for ages 10–17.
Quick take
The other half of the console-savings duo. Same financial lesson, different ecosystem.
The parent lens
PS5 saving has a hidden gotcha: the disc-vs-digital choice. Disc edition is $50 more upfront but lets them buy used physical games for half price — that math usually wins after the third game. Digital edition saves the $50 upfront and locks them into Sony's store forever.
How long will it take?
PS5 disc edition at $499 saved at $15/week takes 33 weeks — about 8 months. PS5 Slim at $449 takes ~30 weeks. Most kids end up combining 6 months of allowance with a birthday or Christmas hit to land in the 4-month range.
At a glance, for a $499 target
Gotchas
- ×Two controllers, not one — most multiplayer games need a second
- ×PlayStation Plus subscription ($80/year basic, more for premium) is needed for online play and is easy to forget in the budget
- ×Used physical games at GameStop or Facebook Marketplace are the cheat code for the post-purchase phase
FAQs
How long does it take a kid to save for a PS5?
At $10-15/week, 6-9 months. Most kids combine allowance, chore bonuses, and a birthday or holiday windfall to land closer to 4-6 months total elapsed.
Should I buy new or used for a PS5?
New from a reputable retailer is worth the extra $50-80 vs. used because of the warranty. PS5 Slim launched recently — it's usually in stock and a few dollars cheaper than the original.
Related goals
An Xbox Series X
$299–$599
The big-budget gaming goal alongside PS5. Save for the console and they appreciate the games more.
A Nintendo Switch
$199–$349
The modern "I want a gaming console" goal. Parents stay sane by outsourcing "yes" to the save jar.
A Gaming PC
$600–$2,000
The long-term teen goal. Often pairs with a parent-match and some freelance earnings.