I use to have cable, but I got rid of it because I didn't have the self-control to get up off the couch and do my work or just go to bed. However, when I did have cable, it was basic. Not standard but basic. A lot of people get confused between the two. Basic is around $20.00 with all the fees and standard is around $40.00 or so. The cost difference is around $240.00 a year.
Okay, so in mentoring people, one of the biggest money wasters is what they pay for cable. I've had clients paying $240 a month for cable on the verge of foreclosure. Unfortunately, they had determined that premium cable was a necessity, and having a roof over their head wasn't that important.
When looking at ways to cutback and save, there should be no "sacred cows." Meaning, you cannot get attached or joined at the hip with anything. My customer was paying $2,880 a year to watch the "boob tube." So when I suggested they get basic cable to save money, they weren’t hearing it. “What about standard cable,” I asked? Not happening! Their solution was to get a plan that cost $110.00 a month.
Again, basic cable with about 30 channels is around $20.00 including fees. If you were behind on your mortgage, your car was in fear of being repossessed, or your lights were going to be turned off, would cable still be your priority?
Would you rather have cable or a roof over your head?
August 25th, 2008 at 12:29 pm
August 25th, 2008 at 12:49 pm
August 25th, 2008 at 12:52 pm
August 25th, 2008 at 01:11 pm
If I make 100K a year and my cable is $80 a month and I have no debt. It would not be a discussion
But if your cable bill is $80 bucks and you are barely making the house payment, then there is a spending issue
August 25th, 2008 at 01:23 pm
August 25th, 2008 at 01:26 pm
We never had cable until we made six figures. The college years I never would have dreamed of paying for cable, and I opted out letting my roomies share the cost. (I have read before people have to pay because they have roomies. Says who?). BEtween all my jobs and classes I obviously wasn't watching their cable on the sly.
Anyway, when dh and I both worked and were doing well we picked up cable.
We argued about it when we later dropped to one income, but he was insistent he "needed" it. We made it work.
The cable would certainly be the first thing to go if we had trouble with bills. I think even my dh could agree with that. Hehe. I Can't say I've ever had to choose between cable and the mortgage. Phew.
August 25th, 2008 at 01:49 pm
August 25th, 2008 at 01:56 pm
Not only cable, but all kinds of things would be slashed to the zero point! How could one watch that cable with no power to run the TV anyway?
August 25th, 2008 at 01:57 pm
August 26th, 2008 at 09:48 am
Once I broke it down into how many hours I had to work to pay for cable each month it made me realize it wasn't worth it.
You said these people were spending $2880 a year? In 5 years thats $14,400!!!
August 26th, 2008 at 09:59 am
Thank You!!!
August 26th, 2008 at 10:59 am
You're welcome! I notice more and more networks like ABC, NBC, FOX and others are offering free shows from their own websites as well so be sure to search for your favorites.
August 26th, 2008 at 02:18 pm
August 27th, 2008 at 09:26 am
sharmanl ~ I think I'm going to re-evaluate our Direct TV service. We probably pay way too much for what we get out of it ($74, including HBO). We watch TV at night for a few hours, and maybe a little more on weekends. Without cable or satellite, reception would be nil, so we need something. We also have a single DVD Netflix account.
August 27th, 2008 at 12:22 pm
September 7th, 2008 at 07:00 pm
Another thing to do is plug in your TV to the cable jack when you first move into a residence (before you call the cable company out to install). At least once during my military moves the cable company never cut off the service when the last resident of an apartment moved.