If you played video games as a kid, you were probably told that they were a total waste of time. Depending on when you grew up, you might have even been told they were responsible for brain rot or the propagation of violent behaviors.
It’s true that video games aren’t especially practical. After all, they’re made primarily for personal entertainment. These days, many people make careers out of video games, designing and developing them, promoting them, competing with them, and even simply streaming them for the enjoyment of others.
And even if you can’t make money through one of these methods, there are a number of useful skills that you can learn through video games – if you put in the effort.
Let’s take a look.
Compound Interest and Investment
First, video games can teach you the power of compound interest and investing in a visceral way that words can’t. For example, there are many video games that rely on a micro economy for decision making. In these games, you have a steady supply of revenue, which you can spend on assets and resources that help you in the game. If you accumulate a certain amount of money, you’ll begin earning interest on that principal.
Usually, there’s a balance to figure out here. If you hoard all your money for compound interest, you may not have the resources or assets necessary to survive. But if you spend all your money on resources or assets, you’ll eventually lose the power of compound interest and fall behind other players. Very quickly, most players figure out the ideal formula, which is to buy the minimum resources necessary until the compound interest threshold is met.
This is a skill that’s useful in real life, and it can be applied to a wide range of investing and personal finance strategies, including rental property management, says Green Residential. If you can cut back on your regular expenses, you’ll eventually accumulate enough savings that you can invest in things like real estate, stocks, or bonds. These resources generate interest on your behalf, giving you new streams of revenue and the potential for snowballing wealth generation.
Obviously, most video games aren’t going to teach you the art of stock picking or inspecting properties for sale. But the basic principle could be enough to help you make better financial decisions.
Critical Thinking and Problem Solving
Many games force you to think critically and solve complex problems. This is especially true of puzzle games and strategy games, though some of these games are much deeper and richer than others. Learning to think laterally and see the world in a multitude of different lights is a skill you can apply to almost any situation. It will help you solve problems in business, navigate interpersonal conflicts, and find creative alternatives to resolve issues in your personal life.
Calculated Risk Taking
Calculated risk taking is at the heart of entrepreneurship – and it’s important for investing as well. In a video game, you’re often faced with a critical choice: do you take the easy path for a quick victory, or risk the harder path for a stronger benefit at the risk of losing everything? This decision is rarely simple, forcing you to weigh a range of different variables. Life is similarly complicated, forcing you to calculate abstract odds when making new decisions.
Multitasking
“True” multitasking is functionally impossible for most of us, and no, you’re probably not the special exception. But in many video games, players are forced to juggle their attention between many different competing priorities. Attacking another player while simultaneously tracking your inventory and keeping an eye on the map requires the deft ability to toggle between stimuli. While you may never become a multitasking master, this will help you get better at shifting attention between competing priorities.
Skill Development
Playing video games regularly can also teach you more about skill development in general. When you first start a new game, you won’t know how to do anything. After 100 hours of playing, you’ll be much more competent. After 1,000 hours of playing, you’ll be on the road to becoming a master. Learning other skills in real life follows a similar curve, and you’ll be able to navigate that curve with patience, persistence, and understanding if you’ve already been through it many times in video games.
Beyond the Screen
In this article, we have praised video games for their diversity, their ability to nurture skills, and their practical benefits. But it’s important to remember that video games are still primarily a mode of entertainment, and playing video games repeatedly probably isn’t enough to help you build a career or master your personal finances. Video games should be a small part of a balanced skill development diet that also includes reading, engaging with mentors, working with peers, and attending classes. Keep this in mind as you develop yourself into a better, more competent human being.
