Cutting The Virtual Cord

Time To Make Sacrifices Before Disaster Happens

Day Four

As I pour over my expenses and work on creating a solid budget that I can position into a debt repayment strategy I am seeing ample opportunity to save. Truth is, I make a good wage. One that technically should cover all necessary expenses with an ample amount left to pay additional towards my debt. I haven’t solidified those plans, but I will cover them in an upcoming post.

As mentioned in previous posts, I really am at rock-bottom when it comes to my finances. By some sheer miracle I haven’t sacrificed my credit score by sending it plummeting to the deep dark depths, somewhat akin to the Leviathan, (a sunken ship hosting an alien race in a pretty awful movie from the late ‘80s) but I’m one little gust of wind from being blown over the edge and dropped into the abyss.

It Can’t Be That Bad Can It? You Can Decide For Yourself.

 
Jan.21.19.bal.update.png
 

When I say I’m at the bottom, I’m being truthful. I’ve attached this slightly edited but very real and up-to-date snapshot of my checking and savings account. Tomorrow’s payday, I can guarantee, unless disaster strikes, that my balances will never be this low again. It’s been irresponsible (to say the least) of me to let my family down in this manner. As a single income household, it’s my financial duty and responsibility to ensure this never happens again.

Goodbye Streaming, This Breakup Will Be Difficult, But Necessary

My family loves streaming. I love streaming. We haven’t had Directv for years, and I can honestly tell you, no one misses it. The bills became obnoxious over time. For years we would part ways with our satellite company, only to get roped back in for a better deal. The whole charade got tiresome. Why not give one solid rate and stick with it? I know, because it gives them sales, but I wonder if Directv would be better off without playing the rate games and focusing on customer care?

At first, we dipped our toes into the streaming world. Netflix rocked. No ads and we could watch what we wanted. Except we found after maybe 3 to 6 months of solely watching Netflix, that we’d exhausted the available library that matched our viewing habits.

On comes Hulu! We decided that we could have the best of both worlds. More TV type programming with Hulu meant we’d expand our available content tremendously. My wife loves some of the programming available, even to this day.

Altogether, we still weren’t close to what we paid for Directv.

But then something happened about a year ago. I don’t even know the order of the subscriptions, or really when we got them, but I do know we accumulated them pretty quickly.

Over the last 12-18 months, we’ve added the following: YouTube Red, Spotify, Amazon Prime (Yes, multi-faceted but still…), Audible, PlayStation Network, and Pandora.

I’m responsible for Audible and Pandora. Well, I’m responsible for all of them but those were two I added and I didn’t consult my wife. The not consulting my wife is another story for another day. Until recently, I’ve been a selfish spender. Which, leads to me hoping to remain anonymous for now. I’m ashamed of what has become of our finances.

I actually had other streaming services, but I’ve canceled both of them prior to starting this blog. One was for the NHL season pass and the other was an MLB pass. I hardly used them at all. Such a waste.

 
What started with simply streaming Netflix ended up spiraling out of control.

What started with simply streaming Netflix ended up spiraling out of control.

 

A Breakdown Of My Families Streaming Costs

Now, all of our streaming services add up to much more than what our old Directv bill used to. Let’s break it down.

  • Netflix: $15.99

  • Hulu: $11.99

  • YouTube: $17.99

  • Spotify: $14.99

  • Audible: $22.95

  • Pandora: $14.99

  • PlayStation: $9.99

Total: $108.89

So much for saving money by streaming. That beats our old cable bill by almost $20.00 per month. Sure, we each get a slice of what appeals to us individually, but at what cost? When you look at my monthly bring home pay, that accounts for almost 3%. That’s easy savings. You might think, it’s only 3% dude. Is it worth it to agitate your family for 3%? No, it’s not. At least not in its entirety.

Who’s Getting The Ax?

We’ll keep one of the television streaming options going. Most likely Netflix, but I’ll ask my family to choose which one they want to keep and we’ll stick with it. I’m going to keep the PSN for the kids. Losing YouTube Red for them will be tough.

That brings my monthly streaming costs down to around $26. I can live with that. It’ll give me that much more to put towards my credit cards. I hate credit cards with the burning intensity of a million suns (you might get the reference!) and I can’t wait to start detailing how I’m attacking them. Again, that’ll be in a future post.

Who knows, maybe you can check your streaming services out. Maybe you’ll find that shutting some of them down won’t be terrible, and if you have other areas you can put that money to better use then it could be a win, win!

Good luck, and wish me luck, as I continue to obliterate loads of poor financial decisions on my journey to financial independence!

Making Tough Decisions In Order to Attain Financial Independence

As mentioned, I really am at rock-bottom when it comes to my finances. By some sheer miracle I haven’t sacrificed my credit score by sending it plummeting to the deep dark depths, somewhat akin to the Leviathan, (a sunken ship hosting an alien race in a pretty awful movie from the late ‘80s) but I’m one little gust of wind from being blown over the edge and dropped into the abyss.

It Can’t Be That Bad Can It?

When I say I’m at the bottom, I’m being truthful. I’ve attached this slightly edited but very real and up=to-date snapshot of my checking and savings account. Tomorrow’s payday, I can guarantee, unless disaster strikes, that my balances will never be this low again. It’s been irresponsible (to say the least) of me to let my family down in this manner. As a single income household, it’s my financial duty and responsibility to ensure this never happens again.