You can't control inflation, but you can control your spending. I'm always looking for ways to make our money last longer (money multipliers). Recently my husband Stephen suggested a new one, "cutting the cord", meaning cancelling cable TV and getting the shows we watch from streaming services.
I was a little reluctant — wasn't everything working just fine? But I agreed. Sometimes a spouse must pick her battles...
Stephen understood that the transition had to be seamless. To reduce the pressure, he made the switch when I was away on a “girls” trip. He would not have me watching over his shoulder during the transition and could fix any problem before my return.
The moment of truth arrived. I clicked on my Apple TV remote and... all my channels and shows were just a click away!
I don't miss cable. Using streaming services is easy and has several advantages:
- Lower cost – most people save at least $100 per month.
- I can use it on all my devices – such as my phone and tablet.
- I can still watch "live TV".
- All my apps show up on one screen that's easy to navigate.
- My kids think we are “hip”.
If you are thinking of cutting the cord, here are a few things to consider:
- See what (if any) penalties you will have when you cancel cable.
- Make sure you have high-speed internet.
- If you don't have a smart TV, buy a media streaming device such as an Amazon Fire TV Stick or a Roku Streaming Stick.
- Decide what you want to watch. Oversubscribing to streaming services (easy to do) will eat into your savings.
I hope you will think about “cutting the cord”. Not only did we save money, but I got a few spousal brownie points as well!
Shari Greco Reiches
Shari co-founded Rappaport Reiches Capital Management with one goal - to maximize the return on life for her clients. Please connect with Shari below. She loves to talk about investing, financial planning, and Barry Manilow.