Avoid Common Cord Cutting Mistakes by Creating a Budget





A young woman is sitting in her kitchen and is loking at her receipts at home while using a smart phone

A young woman is sitting in her kitchen and is loking at her receipts at home while using a smart phoneOne of the main complaints about cord cutting is the possibility of overpaying. For example, if you subscribe to numerous streaming services you would pay more than cable TV.

The way to avoid that is to have a budget. A simple budget will help you manage your monthly streaming bills and avoid oversubscribing.

What if you can’t afford everything you want? With cable, you are sold the idea that once you start paying you have to keep paying. With cord cutting, you can subscribe just when you want it. For example, only pay for HBO when Game of Thrones is on.

A budget is not only a good idea for streaming services but life in general. Money is one of the main reasons people get divorced and it often comes down to not having a clear plan on how to manage your spending.

With a budget, you can take a hard look at how you are spending your money and it can help you get out of debt. It costs nothing except some time, and it can help you save money. Not only will it help you save money on TV but it also can help you save money in a wide range of other areas. Often when we talk with new cord cutters, they had no idea how much their TV bill was before they started thinking about cord cutting. This is because they had it on auto pay and they never looked at their monthly statements. Once they looked at the bill, they were shocked by how high it was.

I personally recommend the Financial Peace Planner. This simple planner can help you quickly get a real budget for your family. I learned about this budget system in my late teens, and it helped get my family set up to succeed.

So, remember: take an audit of how many streaming services you use. Are you paying for a service you hardly use? Know what your budget is for streaming and stay under it by rotating rarely used services.

Do you have a cord cutting tip you want to share? Leave us a comment and let us know.

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