Skip to main content

Cutting the Cord 101 - Say Goodbye to Cable

More and more households are saving money by cancelling their traditional cable TV services and switching to subscription streaming instead. Let's take a closer look at how you can save and a few things to keep in mind before cutting cable.

Compare the costs

The average monthly bill for cable, without counting internet bundles, is about $85, and satellite TV can cost $100 or more per month. Meanwhile, most streaming services start at around $9 per month, with live TV streaming services charging around $25 per month. Switching from cable or satellite to a single streaming service will save you money, but there are other costs to consider before you cut the cord.

For example, if you pay for a bundle package from your cable provider that includes cable and internet, you may end up paying more for internet when you cut out cable. Keep in mind, when you switch to all-streaming, you might also need to upgrade to a faster internet speed. Likewise, in order to use a streaming service on your TV, you'll need to either have a “smart" TV or purchase a plug-in streaming device.

Finally, one streaming service may not be enough for you and your family. Many people sign up for multiple streaming services that offer a variety of shows, original programming and movies. Don't forget to include these additional costs in your budget when deciding whether or not to cut out cable. You might find that when you add everything up, streaming is around the same price as your current cable bill.

Be willing to make tradeoffs

For now, streaming cannot totally replace the live programming offered by cable TV. If you're a die-hard sports fan, you'll probably need cable to catch all the games. Some live TV streaming services don't offer local channels, but you can make up for this with an inexpensive over-the-air antenna. Before converting to a streaming-only household, be sure you're willing to make some sacrifices.

Plan ahead

Before you ditch your cable company for good, it pays to do some planning. Make a list of all the programs that you (and your family) watch on a regular basis. Are there shows or channels that you can't live without? Are you willing to watch some of your favorite programs days or weeks after they air on live TV? If not, switching to streaming-only may not be the right option for you.

On the other hand, if you're ready to streamline your entertainment options and potentially save money on your monthly TV bill, cutting the cord can be a smart solution! 

Want more money-saving tips? Check out Wright-Patt Credit Union's upcoming educational events, including workshops, seminars and webinars. View our full event calendar here.