Show him that in real life there is no problem playing video games as long as he knows that you need to have money to support that thing.
A child will eventually collide with reality. Hard. You have one choice:
- have him collide with reality under the watchful eyes of somebody who loves them
- have him collide with reality under the authority of somebody who could care less about him (police, landlord, utilities, etc)
And I explain it to them. It's coming, it's real, you'll have to do so many things -- but that if these things are learned at a consistent steady pace, I imagine a bit less earth shattering than the notion of do whatever you want, until life beats you up.
Parenting, all about preparing them for their future in all the ways, or at least giving it your best shot. Communication here, like in everything, is key.