Cable prices are rising each year and more increases are on the way. A new report shows just how much those high cable costs are impacting household budgets. What the research shows is that the average cable bill is more expensive that all other household utility bills combined.
The report from Decision Data shows that, on average, households are paying $217.42 per month for their cable package. Households are also spending, on average, $205.50 per month for all other major utilities combined. That includes electricity, gas, water, sewage, and garbage.
While families can look at ways to save on electricity, water, and gas, the same isn’t always true for cable bills. In many areas, there are limited options available for cable providers and customers are often stuck with whichever company has the monopoly in the area.
Why are customers still putting up with the high cost of cable? Decision Data points out that some households may not realize how much they’re spending on their monthly cable bill. With cable companies offering sign-up deals with promotional pricing, it’s easy to forget about the hidden fees and monthly charges, along with the price increase that comes after the introductory period. While some customers have luck with calling their cable provider and negotiating a lower price after the intro period, many won’t make the call and will get stuck with a much higher bill each month.
After cutting the cord, one study in 2019 showed that customers save an average of $85/month. Without contracts, cord cutters have the ability to switch from one streaming service to another or to pause or cancel subscriptions to save even more money during any given month. Live streaming services like Vidgo, FuboTV, Philo, AT&T TV NOW, Sling TV, Hulu, and YouTube TV allow for watching live TV without being stuck in a contract.
Are you a cable customer tired of one monthly bill taking up a large portion of your budget? Check out our Beginners Guide to Cord Cutting to get started with dropping cable and switching to streaming.
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