If I asked someone, “How much does your cable cost you every month?”, they would most likely say something like, “$50 a month” or maybe “$85 a month, but that includes Internet”. If I posed this question to a die-hard investor, he might say something like, “$2,000 because I could have invested that money in the market and averaged a 10% return over the course of 40 years”. I love the latter answer, but I’m going to take it one step further. The real cost of your cable is astronomical.
Did you know that the average U.S. household spends 4 hours a day watching television? That’s approximately 120 hours of television a month! If, instead of glazing over at that infamous box, you decided to work 4 extra hours at your job every day, how much extra money would that gross per month? Let’s assume you make $20 an hour. That would be an extra $2,400 a month (yes, this would count Saturday and Sunday, but this scenario replaces TV with work, and you watch TV on the weekend don’t you? Thought so).
Since I often promote passive income, consider how much you might benefit from turning off that television and performing some work in the present that will reap monetary rewards in the future. It may not reap any short term benefits, but what will TV get you? An extra large depression in your favorite spot on the couch? You will be much more satisfied with yourself if you are progressing toward your long-term goals of wealth and regenerative income.
Within my own efforts to create wealth online, I have learned that the television is my worst enemy. Once I start watching it, I just can’t stop! The networks do such a great job promoting the next show while you’re still watching your current one that you feel inspired to watch just a little bit more. The next thing you know, the whole evening has whizzed by and you’ve done absolutely nothing! I have done this far too often in my life…
I have discovered that there is a market for my written thoughts. There are various websites that are willing to pay money for financial thoughts and suggestions. My television won’t do that. On top of this, by writing for these various websites, I am in turn promoting my own website, which is my passive income stream.
If I make $20 per article and I can produce a solid article within an hour, I will be making an additional $2,400 a month (just like the first example), plus these articles will no-doubt bring more readers to my site, which is my passive income generator. Each month, I could easily produce an additional $3,000 by ignoring my television!
So, no, your television does not merely cost you the amount of the cable bill. It actually costs much, much more.
After reading this article, how much do you feel that your cable is costing you? What would you do if the TV didn’t suck you in?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.