What do you pay for cable? Do you have Netflix, Hulu, Or Amazon Prime as well? If you were to tally up all your TV subscription based cost how much would it come to?
The national average now for cable is around $100. Here we average spend $o. We do have Amazon Prime which we will consider whether to renew in July when it expires, but we don’t pay for TV service thanks to an brother/uncle who covered Netflix for the year for our kids’ birthdays.
The math of $17,000
10 years/120 months
7% compound interest (if you invest that money in your Roth IRA, that is tax free growth)
The total is $17,200 in 10 years. Is cable really worth it?
So what are your options? We have tried a number of different streaming players and found that Roku gives you the most streaming options. We also use Apple TV and I like it as well.
You don’t need cable. 100 channels–80 of which you don’t actually watch. Is it not worth sacrificing your future opportunities to travel, own a house, or give generously? Cut the cable, read a book, learn something new. You have a choice: sacrifice saving, giving, and learning opportunities or watch the 200th episode of The Biggest Loser. It’s up to you.