Since 2010, the average cable TV bill has increased by a whopping 40% and analysts say rates will continue to go up. Many people are paying big bills near $200 a month or more. If you’re one of them, it’s time to consider how to finally cut the cable TV cord and save money using the best alternatives.
I interviewed Dennis Restauro, the owner and editor of Grounded Reason, an information website to help you cut the cord, and host of the The Grounded Reason Podcast. Here are some of the topics we cover:
- The main pros and cons of cutting your cable TV cord
- Set up costs to get the best TV viewing alternatives
- How to watch sports after you get rid of cable
- The best devices and streaming services to use
- The first steps to take when you're ready to save money on cable
- How much money the average person can save
[Listen to the interview using the audio player in the upper right sidebar of this page or on iTunes, SoundCloud, Stitcher, and Spotify; for Spotify, just search the app for "Money Girl."]
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Best Ways to Cut the Cable TV Cord and Save Money
Here are some great tips from Dennis to help you cut the cord on cable TV and save money:
Tip #1: TV is free over the air
Don’t forget that free TV is literally flying past your window. According to the 2015/2016 Nielsen ratings, 82 of the top 100 shows were on broadcast television. Viewers with a TV antenna receive these networks free via the airwaves.
When choosing a TV antenna, don’t fall prey to the marketing of newer “digital antennas.” If you have an older antenna, it may work perfectly fine.
Tip #2: You can stream network TV shows
If using a TV antenna isn’t an option, you can stream network TV shows on Hulu and CBS all Access for $15 per month.
The remaining shows in Nielsen’s top 100 are available through online alternatives to cable like Sling TV, PlayStation Vue, and Amazon Instant Video. All you need is an adequate internet connection and a streaming device like a Roku, Apple TV, or Amazon Fire TV.
Tip #3: Don’t buy more Internet than you need
Streaming HD video only requires about 5 Mbps of bandwidth, but a minimum of 10 Mbps is recommended if you have one TV. The majority of households won’t need more than 25 Mbps, even when streaming video to three devices simultaneously.
An Internet only service plan at that speed typically costs around $40-$50 per month.
Tip #4: Make TV a value judgement
Consider the non-network shows you watch. Would you still watch each if you paid for them individually? I know I wouldn’t.
You can purchase the current season of a show you really want for the price of one month of cable. With bundles and long-term contracts, cable TV doesn’t allow that choice. This value judgement is where you can save money and also increase the quality of the TV you watch.
Tip #5: Value your time
According to Nielsen, the average American adult watches 4.3 hours a TV per day. That adds up to over 16 full 24-hour days of commercial watching! Talk about wasted time.
Streaming services are typically commercial free, or offer a commercial free subscription tier. Cutting the cord is a smart way to take that time back.
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