How much money can you save by cord-cutting?

Pay-TV service now costs approximately $103 per month on average. A typical cord-cutter might save up to $1,236 per year based on the average monthly estimate for pay-TV expenses.

Of course, that figure is an approximation. Your actual savings could be significantly more or lower.

Also, those figures don't consider the costs of accessing TV in a different method, such as through streaming content packages. They also don't account for the cost of enhancing your streaming setup with a faster internet connection or one-time costs for new equipment.

What are the alternatives to pay-TV?

Here are some of the devices and services on the market that could provide varying levels of resemblance to your old pay-TV service.

Devices

HD Antennas 

Since your grandfather's rabbit ears, television antennas have gone a long way. There's no need for a pay-TV membership (or tinfoil) now that you can use an HD antenna to pick up high-definition broadcast signals over the air.

You can obtain:

Over-the-air channels in your area (network affiliate programming in your area, including news, sports, network TV, daytime shows, and syndicated shows).

Expect to pay the following:

Depending on the model, one-time fees range from $20 to $50.

The good aspects:

An HD antenna, unlike a cable or satellite TV bill, is a one-time investment. Indoor models, in particular, are straightforward to set up.

The negative aspects:

Your closeness to local broadcast towers dramatically influences the number of channels you receive. You'll have problems obtaining a good signal if your location isn't ideal.

It's useful for:

Fans of network television (ABC, CBS, NBC, and others), as well as fans of the "Big Three" college and pro sports, are all people who are tied to their communities (football, basketball, baseball)

Smart Televisions

Do you have a smart TV?

Instead of using a set-top cable box or satellite dish, a smart TV connects to the internet. (At first, they were known as linked TVs.)

What you can expect to receive:

They usually come with software that enables content streaming services like Netflix, Amazon Video, and Hulu; however, lower-cost devices may have a smaller range of apps.

Expect to pay the following:

The cost of a smart TV varies substantially depending on screen size, features, and discount prices. For $100-$150, you could obtain an off-brand 32" model, or for $1,000 or more, you could get a feature-packed 70" model.

The good aspects:

An excellent smart TV can make it simple to get started on your post-cable or post-satellite adventure with various streaming apps already built-in.

The negative aspects:

You might be caught up in the current wave of innovation, which sees 4K ready to replace 1080p as the conventional viewing format. Furthermore, even though the TVs come with built-in streaming services, you will still be required to pay for a membership.

It's useful for:

People seek a simple, all-in-one way to watch TV and movies without any moving components.

Streaming devices

Do you have a streaming device?

A streaming device is basically a media player that allows you to watch web material on your television. Roku, Google Chromecast, Apple TV, and Amazon Fire TV Stick are all popular streaming devices. Some video game consoles can also be used to broadcast content.

What you can expect to receive:

Music from Spotify, Pandora, and other internet streaming services and TV and movies from Amazon Video, Netflix, and Hulu.

Expect to pay the following:

Streaming gadgets, like smart TVs, have a wide range of pricing. You can pay anywhere between $30 for a basic mini-streamer to $180 for a high-end option like Apple TV 4K.

The good aspects:

Some experts argue that a streaming device eliminates the need for a smart TV. Others argue that having one is necessary even if you have a smart TV.

The negative aspects:

Your streaming experience may be limited by the speed of your Wi-Fi or 4G connection. You'll have to pay for the subscription service once more.

It's Useful for:

What's another device if you already have a smartphone, smartwatch, and smart thermostat in your personal electronics collection?

Is there a streaming service?

Consider it the online-only equivalent of a cable or satellite TV provider — essentially a content distributor. The term "streaming" refers to the process of sending data consistently and continuously.

What you can expect to receive:

Hulu, Sling TV, DIRECTV NOW, and other comparable services offer bundles that resemble slimmed-down versions of your old cable or satellite TV lineup, complete with some cable and broadcast channels. In some markets, local channels may be included in specific packages. You can also pay for services that are dedicated to specific networks or channels, such as CBS All Access, HBO NOW, and others, as well as sports (fuboTV) and other categories.

Expect to pay the following:

Streaming service prices vary, as one might expect. FOR EXAMPLE, Acorn TV in the United Kingdom charges $5 per month for a very particular type of entertainment. A more comprehensive solution that comes close to providing a pay-TV television package could cost up to $75 per month.

The good aspects:

In an ideal world, you'd be able to receive a viewing experience similar to pay-TV for a fraction of the cost (and with considerably fewer channels).

The negative aspects:

The fees of multiple subscriptions might quickly pile up. Additionally, some movies and television episodes tend to disappear from the catalog for some time — or even permanently — as the service cycles through its content. The only exceptions are original productions such as Netflix's "Orange is the New Black" and similar shows.

It's useful for:

Cord-cutters who utilized Netflix or Hulu to supplement their pay-TV service are now ready to go to an even more, a la carte watching experience.

What to Look for When Choosing a Streaming Service

"What is the greatest streaming service for me?" Many cord-cutters will ask themselves this question. Here's some information to assist you with your search:

It's similar to pay television, except it's a lot more compact.

PlayStation Vue is a streaming service provided by PlayStation.

Surprise! Despite the name's association with video games, you don't need a PlayStation system to use PlayStation Vue.

● Streaming devices, iOS, and Android mobile devices, and tablet devices are all supported.

● Four monthly plans are available, ranging in price from $39.99 (50+ channels) to $74.99 (90+ channels).

● Provides DVR functionality, which is uncommon among streaming providers.

Flexible and adaptable

Sling TV is a streaming service that allows you to watchAs the name implies, this service offers "A La Carte TV" – the bundles include fewer channels, but you have more control over how you want your channel lineup to look. Base services start at $20 per month, with Sports Extra, Kids Extra, News Extra, and other add-ons available for an additional $5 per month. HBO ($15/month) and STARZ ($9) are two premium add-on networks.

● Sling Orange: $20/month for 30 channels

● Sling Blue ($25/month): 40+ channels

● $40/month for Sling Orange and Sling Blue

The best deal

Netflix

The pioneer still has a few tricks up its sleeve for its younger counterparts about getting the most for your money. Netflix has also established itself as a frontrunner in the production of critically acclaimed original content. There are three plans to choose from:

● $7.99/month for one screen in standard definition

● Monthly fee of $10.99 for two high-definition displays

● Four screens in 4K for $13.99 each month

Sports-first

FuboTV

Despite its focus on sports, fuboTV also provides news channels, network channels, and other content. The following are included in the basic packages:

● Fubo Premier: $34.99 per month, with 75+ channels

● Fubo Latino: $14.99 per month for 13 channels

 ●5 channels for $19.99 on fubo Portugués

There are a few others worth considering.

DIRECTV NOW

The satellite TV service's live streaming version can be viewed here. Slimmed-down bundles with 60 channels start at $35 per month and are compatible with various platforms and devices.

Hulu

Watch a wide range of films and television shows, many of them available the day after they first air. Hulu's ad-free subscription rates range from $5.99 to $11.99 per month.

The E-tail giant's streaming video component. With an Amazon Prime subscription ($99/year), you may subscribe to 100+ premium channels a la carte.

Streaming Speed

How much bandwidth do you require to stream video? Do you need to increase your internet service to cut the cord successfully?

Much depends on whatever streaming service(s) you use and whether you're watching in standard definition, high definition, 4K, or other formats. This graph establishes a standard benchmark for many forms of material. Check with your internet provider to find if you require an upgrade and acquire exact speed requirements from your streaming service.

The national average internet speed is 18.7 Mbps (megabits per second), to put the numbers into perspective. The quickest state is Delaware (25.2 Mbps), while the slowest is Idaho (12.0 Mbps).

Find out how much money you can save by cutting the cord

With cord-cutting substitutes, The Simple Dollar has a simple way for you to compute your savings and track your spending.

Should you save or spend more? It's entirely up to you.

If you plan on binge-watching episodes over the weekend, it could be worth it to pay a little more. Perhaps, you can get it with just an antenna if all you want to do is watch your favorite network TV shows when they air.

In the end, it's up to you how much you spend or save based on your desired TV watching habits:

The low-cost scenario

You terminate your pay-TV service, invest in a $20-$50 HD antenna, and treat yourself to the occasional download or box rental. Instead of perusing the channels, you go to YouTube to find free videos to watch. You might save hundreds of dollars or more each year if you play your cards correctly.

The scene in the middle

Cut the cord (or get rid of the dish), invest in a reasonably priced smart TV and streaming device, and sign up for a low-cost streaming service. When you factor in the one-time costs of new technology, it could be months before you realize any savings.

Consider the worst-case situation.

Oh, my goodness. Going to extremes after cutting the cord might not save you any money at all, what with new gadgets, several streaming subscriptions, and an internet speed upgrade. It could even cost you extra in the worst-case scenario.

How to win by cutting the cord?

Some cord-cutters can strike a balance between cost-cutting and entertainment. Others put together a jumble of gadgets and streaming services and end up paying more than they did with their previous pay-TV provider.

To stay in the first category, keep a careful eye on your expenses and be ready to make tough decisions. It is possible to cut the cord without destroying the purpose with a bit of knowledge and dedication.