At TDECU, we believe in making every dollar count. This blog will explore how to use streaming services to save money and potentially generate extra income.
Cut the Cord: Save Money by Ditching Cable
The first step to leveraging streaming services is to cut the cord on traditional cable. Cable subscriptions can be expensive, with the average American household spending around $275 monthly on cable, streaming, and internet services. Cutting the cord and switching exclusively to streaming services you use compared to a bloated cable service you only partially use can significantly reduce this expense.
Start by evaluating your viewing habits. If you primarily watch a few shows or channels, subscribing to individual streaming services can be more cost-effective. Platforms like Netflix, Hulu, and Disney+ offer a wide range of content at a fraction of the cost of cable. Additionally, many streaming services offer bundles, such as Hulu’s package with Disney+ and ESPN+, which can provide even more savings.
Share and Save: Utilize Family Plans
Another way to save money on streaming services is by utilizing family plans. Many streaming platforms offer family or group plans that allow multiple users to share a single subscription. For example, Netflix offers a Premium plan that supports up to four simultaneous streams, which can be split among family members or friends.
Sharing subscriptions reduces individual costs and ensures everyone can enjoy their favorite shows and movies without breaking the bank. To avoid any issues, make sure to follow the platform’s guidelines for sharing accounts.
Explore Free Streaming Options
While paid streaming services offer extensive libraries, numerous free options are also available. Platforms like Tubi, Crackle, and Pluto TV provide a variety of movies and TV shows without subscription fees. These services are ad-supported but can be a great way to enjoy entertainment at no cost.
Additionally, many public libraries offer free streaming services to their members. Services like Kanopy (Harris County Public Library) and Hoopla (Brazoria County Library System) allow you to borrow digital content with your library card, including movies, TV shows, and audiobooks. This is a fantastic way to access high-quality entertainment while supporting your local library.
Monetize Your Content: Create and Stream
Beyond saving money, streaming services can also provide opportunities to earn extra income. If you have a talent or hobby you are passionate about, consider creating your own content and streaming it online. Platforms like YouTube, Twitch, and Facebook Live allow users to broadcast their content and potentially earn money through ads, sponsorships, and viewer donations.
Start by identifying your niche and creating content that appeals to your target audience. Consistency and engagement are key to building a following. As your audience grows, you can explore monetization options such as joining YouTube’s Partner Program or enabling Twitch’s Affiliate and Partner features. Keep in mind that it generally takes some time to start generating income and frequently pays significantly less than minimum wage.
Take Advantage of Free Trials
Most streaming services offer free trials for new users, typically ranging from one week to a month. These trials are a great way to test out a service and see if it meets your needs before committing to a subscription. Take advantage of these free trials to explore different platforms and find the best value for your entertainment preferences.
However, keeping track of your trial periods is important to avoid unexpected charges. Set reminders to cancel subscriptions before the trial ends if you decide not to continue with the service. This way, you can enjoy free content without incurring additional costs.
Leverage Streaming for Learning
Streaming services are not just for entertainment; they can also be valuable educational resources. Platforms like MasterClass, Skillshare, and LinkedIn Learning offer a wide range of courses and tutorials on various subjects. By subscribing to these services, you can gain new skills and knowledge that will benefit your personal and professional life.
Investing in your education through streaming services can provide financial benefits in the long run. Whether you are learning a new language, improving your cooking skills, or mastering a software program, these skills can enhance your resume and open up new career opportunities.
Conclusion
Streaming services offer more than entertainment; they can be categories to look at when looking to save money and generating income. You can make the most of streaming services by cutting the cord on traditional cable, sharing subscriptions, exploring free options, monetizing your content, taking advantage of free trials, and leveraging educational platforms.
At TDECU, we are committed to helping you achieve your financial goals. Using these tips and tricks, you can enjoy high-quality entertainment while maximizing your savings and earning potential. Start leveraging streaming services today and see how they can benefit your financial future.
TDECU is not associated with, or in any way officially connected to third party vendors mentioned within this blog. Any references to these companies within the content of this blog are for informational purposes only and do not imply an endorsement or partnership.