Part of keeping your personal finances in order is making a budget, reviewing the budget, and determining where the “fat” can be cut.  Chances are, you probably have a handful of bills each month that can be cut down a bit, or in some cases can possibly even be cut in half.  Over the course of a year, these tweaks can add up to a lot of extra money in your pocket. 

One of the biggest monthly bill offenders to many people is the cable bill.

  Writing that big check to the cable company every month is aggravating, particularly when you probably don’t even use 90% or more of the channels.  Last time I checked, I had over 2,000 channels included in my cable package, but the reality is that as a family, we may watch about ten of them.  So here I am paying for 1,990 channels that I don’t even use!  Throw in all of the extra fees and taxes that accompany the basic services and you’ve got yourself a pretty significant bill.  Not to mention, the lack of good customer service and frequent outages certainly add to the frustration.   

In recent years, many people have turned to one of the streaming services as an alternative to traditional cable television.  Services such as Hulu and Netflix have grown in popularity over the past few years, providing quality programming at discounted rates.  But what these services don’t offer is the up-to-date, time sensitive programming that is still in demand by a large segment of the television watching public.

   

Could Apple TV Be The Solution?

There may be a solution coming our way soon.  According to recent reports, Apple is set to disrupt the cable television industry by offering a slimmed-down bundle of television networks this fall.  It has been said that Apple is likely to price the service at about $30-$40 a month, which is a significant cost savings over many of the traditional packages that are typically $90 and up.

Apple's new service will provide viewers with up-to-date programming.  Expected to consist of about 25 channels, Apple TV will be anchored by major broadcasters such as ABC, CBC, and Fox.  Due to a falling out between Apple and NBC Universal parent company Comcast Corporation, it looks like NBC won’t be included, so for those of you who are Today Show fans, you may have to consider switching over to Good Morning America for your slice of morning news.  For a cost savings of about $60 a month, it will likely be worth it!  According to reports, Apple is also in talks with Disney, which owns ESPN, so your favorite sporting events should be covered.  HBO is also expected to be bundled in the Apple TV offering.

Other good news is that Apple TV will work across all devices powered by Apple’s iOS operating system which includes iPhones, iPads and Apple TV set-top boxes.  Now your cable TV just became less expensive and mobile!

This is all great news for those of us who are frustrated by the cable bill and have been looking for a solution. Consider the math: by saving just $60 a month on your traditional cable bill, you’ll save $720 over the course of the year.  This is great news for your personal finances.  Putting this money into your savings and letting it grow is a much better alternative than spending it on something that you don’t really want- and don’t really use.    

Are you looking for some financial planning tools?  Check these out:

Retirement calculator, 401k, how do I stack up?, money & happiness quiz

Disclosure:  This information is provided to you as a resource for informational purposes only.  It is being presented without consideration of the investment objectives, risk tolerance or financial circumstances of any specific investor and might not be suitable for all investors.  Past performance is not indicative of future results.  Investing involves risk including the possible loss of principal.  This information is not intended to, and should not, form a primary basis for any investment decision that you may make. Always consult your own legal, tax or investment advisor before making any investment/tax/estate/financial planning considerations or decisions. 

Wes Moss is the Chief Investment Strategist at the financial planning firms Capital Investment Advisors and Wela. He is also the host of the Money Matters radio show on WSB Radio.  Moss was named one of America’s top 1,200 financial advisors by Barron’s Magazine. He is the author of several books including his most recent, You Can Retire Sooner Than You Think  - The 5 Money Secrets of the Happiest Retirees, which has been one of Amazon’s best-selling retirement books in 2014.