When one has to choose between the Big Bang Theory, Billions or the latest (and amazing) season of Games of Thrones, cutting cable TV can seem unfathomable. But – yes there is a but – what if cutting cable TV can save you hundreds, thousands, or even more?
Cost Gain Of Cutting Cable TV
The average monthly cost of cable TV is $70. If that seems low to you, you are correct! The $70 covers basic cable only plus the most subscribed channels. Not your awesome sports channels. Add taxes, fees, and equipment charges and it’ll be a bit more of course.
Just considering the base cost of $70 though can add up to sizable savings over time. Let’s say you’re looking to save an extra $1,000. May that be because you are looking for extra cash to cover bills, go on vacation, or simply to establish an or add to your savings.
Cutting cable TV and saving yourself $70 every month can add up to substantial savings. In five years, you would be able to save close to $5,000. After 10 and 15 years, you would have an additional $11,000 and $19,000 respectively. Assuming 8% investment gains adjusted for 3% inflation.
You Would Be In Good Company
Cutting cable TV has been somewhat of a trend. Over the past few years, scores of people have decided to cut the cord. Some because every penny counts. Others simply to see if they’ll miss it. Many because they’ve grown tired of cable companies raising their rates what appears to be constantly. And a few for all the reasons above.
22.2 million people are forecasted to cut the cord.
34.4 million cord-nevers are expected; a 5.8% increase!
People are watching less TV, averaging 3 hours and 58 minutes a day.
Don’t want to say good bye to TV? How about these cheaper substitutes?
We all have our favorite shows. Games of Thrones, Vikings, and Billions are my latest obsessions? And let’s face it, after a hard work week, watching TV can be extremely relaxing. Thankfully, we can cut the cord and still watch our favorite shows. And at a MUCH better price.
If you choose to sign up for not one but three major movies and show providers, you would still save a bunch of money compared to keeping your cable TV subscription. If you sign up for Netflix, HBO, and Amazon, for example, you would end up paying $9,000. Still a great improvement to paying $19,000 for cable TV.
Are you ready to cut the cord?