How to Cut the Cord and Save Money

I have been talking about doing it for over a year now – cutting the cable cord. Frankly, I avoided it because my email was tied to my cable provider and I was just too lazy to change it.

However, one day the cable company did me a favor. My email stopped working. I called several times being put on hold for roughly 40 minutes each time. After speaking with a representative every time I was told the issue needed to be elevated to a higher department and that someone would call me back within 24-48 hours. That call never came. After being completely disregarded, I finally established a Google email (Gmail) account. Then I proceeded to switch all of my accounts from my old email to my new. No easy feat!

Streaming is now the standard for watching TV. You can watch pretty much anything including live TV and sporting events. And you can save a bundle while doing it.

As I mentioned, I wanted to cut the cord for years. Like many others, I had the “triple play” service which combined a landline phone, cable TV and internet. My cable company claimed they were giving me a “discount” for having all 3 services. And if I wanted to cancel any one of those services I would lose the discount. Don’t let that intimidate you!

Steps to Cutting the Cord

1. Get a better priced internet connection – Call your current company first and ask for an internet-only price. When you do this don’t say you’re streaming. Just tell them you will be using it for email and some web browsing. Also check pricing on the other internet providers in your area. There are a lot of great deals for new customers.
2. Decide on your cable replacement service – Cable-replacement streaming services work exactly the same as having cable — live channels in real time — except they come streaming over the Internet rather than an analog cable wire. Make a list of the TV channels that you must have. Then take a look at the cable replacement services to check for those channels. Popular services include YouTubeTV, Hulu with Live TV, AT&T TV Now and Sling TV but there are many more. Most offer free trial periods as well. Just remember to cancel before your free trial period ends. Your best bet is to try out the service while you still have your current cable service.  
3. Choose a streaming device – Most people nowadays have a smart TV. If you have one then you may not need a streaming device. A smart TV allows you to run streaming apps like Netflix, Hulu and Amazon Video so you most likely wouldn’t need a separate streaming device. If you don’t have one, then you’ll need to purchase a streaming device. A Roku, Amazon Fire TV or Google Chromecast Ultra are some of the top streaming devices on the market. Streaming players connect to your TV’s HDMI port. Having this will allow you to stream the above apps on your TV. Just keep in mind the specs of your TV. If you have a 4K TV, you need to make sure your streaming device can handle it. And if you have a non-4K TV it won’t be able to handle 4K playback. And make sure that your systems are compatible; HBO Max does not work with Roku or Amazon Fire, for example.

You also don’t have to subscribe to any streaming service. You can get by with purchasing just a TV antenna. You can get one which will give you free local channels such as NBC, CBS and ABC which means you’ll be able to watch local news, primetime TV and live sports. Then you can choose to get a free streaming app such as Peacock, tubi or PLEX. You’ll have more than enough free TV shows and movies to watch.

4. Cut the cord!

I am happy to tell you that after making these changes I will be saving almost $1,000 a year!

And one of the best things you can do with the savings is to invest that money. Set up a direct deposit each month for the same amount to go into your investment or IRA account. This way you’ll be saving even more over time.

Hope you have a great week!

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