Reasons to Consider Cutting the Cord on Cable

The era of cable television may be coming to an end for many Americans, as a recent report from Allconnect reveals that the number of cable subscribers has decreased from 98.7 million in 2016 to an estimated 72.2 million today. With the rise of low-cost alternatives like streaming services, such as Netflix starting at just $6.99 a month, more and more people are finding it difficult to justify the high cost of cable.

But aside from the financial aspect, there are three other compelling reasons to consider cutting the cord and saying goodbye to cable once and for all.

Firstly, if you have absolutely no savings and cannot cover an unplanned $500 expense, it may be time to prioritize building up your emergency fund by cutting non-essential expenses like cable. Without savings, you risk falling into expensive debt when unexpected bills arise.

Secondly, if you are carrying debt that you desperately want to pay off, canceling cable and redirecting that money towards your debt payments can help you save on interest and get closer to financial freedom.

Lastly, if you are about to start working a side hustle that will keep you busy, it may not make sense to continue paying for cable if you won’t have time to watch TV. By cutting the expense now, you can free up room in your budget for your new venture.

While cutting the cord may be a difficult decision for long-time cable subscribers, it can be a smart financial move in certain situations. Whether you need to build up savings, pay off debt, or focus on a new side hustle, canceling cable could be the right choice for your financial future.