My wife and I often talk about finances; Keeping an eye on things, evaluating and generally staying informed seems like the right thing to do. This has been more important in the last few months as we have begun the early planning stage for a year off work to travel around the country. We will have no income and no money flowing into our investments but the same sort of costs we would normally incur. So, some balance needs to be found.
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We were chatting about cost-saving concepts and our attention turned to our home entertainment costs:
- Premium pay TV $153/month
- Unlimited internet service $120/month
- Spotify $11/month
- Netflix $12/month
That's $3,552 a year, a pretty sizable figure. This doesn't include the costs around flat panel television's, Bluetooth speakers, our surround sound system, computer, projector and screen, mobile phones, iPad and so on - The true figure is much greater.
Most of our out-of-home entertainment is free: Kayaking, hiking, walking, the beach and so on, we don't get spendy for entertainment when out really but at home, we like movies, watching documentaries and motorsport plus we need the internet for work and recreation, general life really so...It seems a necessity. Still, $3,500 is a lot of money.
We've been calculating which costs will remain, which will be cut off and which we may be able to mitigate during that year off and seeing the entertainment cost over an annual period got us thinking.
The easy answer would be to cut down on our home entertainment costs, maybe drop the Premium TV service for a cut down package. We could slow our internet service down and delete Netflix and Spotify altogether leaving us with about $2,400 of cost, a saving of $1,152 annually which is pretty good but...
Faith and I work hard. We're generally sensible spenders using the need over want ethos, are not big drinkers, don't smoke cigarettes (costly things here in Australia) and whilst I wouldn't call us frugal we certainly think before we spend. We have a savings and investment plan which we stick to, and we go without things to do that...Is it wrong to lash out on the entertainment thing? I don't think so.
Faith and I plan things out, we don't live by chance and our budget accommodates everything we do including my quite costly hobbies and our desire to travel. We know we could save more, but at the same time as future planning we think about life now so tend to seek a balance. I believe one of our key strengths is evaluating our position and what we have around us and whilst we sometimes lash out a little mostly we do a pretty good job.
How about you? What do you spend on entertainment in a year? Do you have any entertainment life-hacks that save you money? Don't hold back, tell me about your scenario and what works, or doesn't work for you. I'm always looking for hints and tips!
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yes, people do spend a lot of money on entertainment. Now look at Hive's business model. One can still spend money on entertainment, as they would, supporting their favorite content and providers, like normal. But here, the money remains in your wallet and grows over time. Now you get a return on entertainment. Plus you can have your money back at any time. Genius. If only the world knew...Is this the part where @NoNamesLeftToUse waltzes in and points out the fact,
Hive sure is entertainment for me .. being retired and all..Doesn't get any better then getting payed to have fun...
If only the world knew indeed.
I work from home a lot so need good internet service and, of course, no internet, no hive. In truth I don't necessarily see internet as entertainment as these days it seems to be a requirement of life. We have to do just about everything online these days, certainly all government-related things, most medical etc. So, less entertainment, more requirement.
For me it's the pay TV thing...It's a lot of money. Clearly we can afford it or we wouldn't have it, but I still look at the cost and think I cold possibly better use the money. Silver maybe. But, free to air TV is absolute trash: Commercial breaks longer than actual programming, insipid reality shows, re-runs of Bonanza from 1969 and propaganda news services...I like to watch history and natural world documentaries and a movie or two so, we have pay TV. A couple sports I follow are only on pay also. It is what it is. I watch a little TV really, don't sit there for hours on end or anything, but when I watch I want it to have some quality rather than the pay TV rubbish. In truth though, I spend more time on hive than TV.
We used to go to the movies every week. The cinema. We'd get dinner, some snacks and pay the $22 (each) to get into a movie...$120 later...So, $153 doesn't seem so bad.
!ENGAGE 25
I cut my TV connection a long time ago. This past summer I spent a lot on fuel for the dirtbike, legal cannabis (LOL - don't judge), and fishing tackle. I just transfer my laptop screen to my TV when it's time to use that idiot box.
Yep, we looked at it too, cutting our service off and the screen mirroring thing also. It's the pay TV that's the excess for us, the non-essential, and we have always said it'll be the first thing that goes considering we could cut it off and retain Netflix for a fraction of the cost. At this stage we have kept it but I think the day of cut-off is fast approaching.
I like the dirt bike thing, spending money of stuff like that is legit. I spend a lot on guns to be honest, and all of the kit around that hobby. Also, we spend large amounts on our 4x4 and camping stuff. That's what really makes us happy, the experiences provided by those things, the outdoorsy things, and also travelling. But having said that, watching documentaries makes me happy too and so we find a balance.
You fish a lot? I'm not much of a fisher (angler?) although I do it from time to time. I'm more into the shooting, hunting and stuff. Nothing like a fresh caught fish on the open fire though right?
Some lakes here it only makes sense to pull a lure if out for a paddle in the kayak. Get a free meal every time. Sometimes I'll go on a mission to catch my limit but then I have spend hours processing the meat.
Here: Jim Baird and Joe Robinet take what I enjoy doing to extreme measures. I'll go for a day with home base nearby. These guys go out for weeks at a time. You'll find some cool documentaries on those channels, and some thick Canadian accents.
I have kayaks and Faith and I go a bit but we don't fish off them, I'd probably hook myself and end up doing some damage. (I'm not the best fisherman in the world). It's fun to go for a yak though although we don't do anything quite as adventurous as those chaps you linked. I like looking at that stuff, the outdoorsy stuff, so thanks for the links, I'll enjoy watching them today at work. 😉
ENGAGEtokens.Well, this just makes me think about my brother. He lives and works in Mexico. Now he has a new job and is happier, but he tends to talk to me about stuff that he buys and things like that. I have Netflix and Amazon Prime because he pays for those things. So, I have a screen of that. Using money for entertainment ended for me earlier this year when I went to the movies with my ex-girlfriend and stopped having time to do that kind of thing because I was always too busy.
Now, I have time but my internet connection sucks. Ha, ha, ha. From time to time I'm able to watch something, finish a series and something like that. So Hive has become my free source of entertainment. And actually any contribution I made for the household is related to food as everything usually is nowadays with things as they stand in the country.
But going back to the point, it reminds me my brother seems to always be spending money on a lot of things and he tends not to tell my mother about it when he calls (on my phone because hers died a month ago). And it tends to worry me. I mean there's no other town in the world where you could be living without money of any kind like here. You could literally go to fish without bait and catch your food.
I guess I'm more of a planner when it comes to expenses. I wouldn't be using so much for entertainment in that way if I were in his position. But then again, when we lived together I used to make the budgets for everything that needed money. I still remember one time when he called (he was still living in Caracas) and he said he missed my administrative skills. Ha, ha, ha. I just wished he had picked some more of them along the way.
I hear this far too often...People spending like there's an unlimited supply of money. We tend to be planners too though, like you. We think things through, work out the viability, the need and the benefit of things before we go ahead and buy them. It helps that 70% of our entertainment is free as stated in the post, outdoorsy stuff mostly. We both have good incomes and solid savings and investment plans which come first, before the entertainment. I was clear to mention that in the post because putting entertainment first isn't smart.
I know many who have struggled financially in the past, and have had to budget, then go off the tracks when a little extra money comes along. It seems they forget their good habits in preference for the instant gratification of spending. It's not the best way to go, but many do it.
Our entertainment spending as per this post is the smallest part of our budget with the greatest part being saving and investment so we feel we are doing ok. Besides, we have the ability emotionally, to cut of those things if they became a drain. I know many who would not. In fact I know someone who cut off their health insurance to maintain their pay TV. Lol. Insanity. Just for perspective, I have extras cover for health, no private hospital cover, and that costs me $1000 a year and my wife's is the same...So you can see how the entertainment costs compare fairly well in comparison.
Thanks for commenting, much appreciated.
!ENGAGE 25
Well, people get crazy about some things. Like way too crazy over the hype of entertainment.
And I saw your budget and it looked like a reasonable approach to entertainment. I like the natural way in regards to that, but then again I'm limited to the things I can enjoy here.
Everyone has different needs and requirements. Faith and I manage to find a balance between most things. We don't over-spend and neither do we over-watch TV. Our lives are fairly balanced between many things.
ENGAGEtokens.Hmmm @galenkp unlimited internet services seem like a necessity (especially now in this day and age).
My husband wanted a good yet affordable Smart TV, so instead of buying from brands like Samsung, we got a decent 44" inch TV from Xiaomi for a few hundred dollars. Really bang for our bucks!
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I just finished writing that in another comment, about the internet. I don't see it as entertainment really, but a necessity.
There's always options like you say, different brands and often lower prices. We had a TV from Sonic a little while back. The quality wasn't as good as the Samsung's we have now but it was still pretty good and worked for several years. We always weigh things up before we buy, do the research and make sure we're making smart decisions. Seems like you're the same.
!ENGAGE 25
ENGAGEtokens.So. I have Hulu Plus for $60, ESPN + for $1.27 (it's a bundle price) and Disney+ for $90 per year. After football season I'll check out the options for live sports because Hulu has gone up twice in not much over a year.
I have unlimited medium speed (100 MBPS) Internet for $69 per month. Cell service for $15 per month (limited data) plus $17 per month phone payments.
Amazon Prime is my primary movie and music go to, $100 per year. Call it $160 USD per month for entertainment and phone. This year that comes out to about $10 per football game, $10 per car race, $10 per hockey game, $10 per basketball game. The per game isn't so high in a regular year without cancelled college football and basketball games.
I can afford it. I watch my expenses like a hawk watches a mouse.
I like that you know what they cost, I know people who have no clue. They just keep adding services and keep paying, sometimes on credit card too!
I think it's a little cheaper up your way through the fact you're bigger and there's more competition. My TV service is Foxtel and there's little option although there's a streaming sports service called Kayo available here which provides the sports aspect and it's about the same cost as Netflix. We were almost going to cancel the TV and add a couple extra streaming services to lower the cost but like you, we can afford it and decided against it at this time. The pay TV will be the first thing to go though.
!ENGAGE 25
Hulu isn't on life support, yet, but it's the first out. I'll look at YouTubeTV very closely between the end of Football and the start of the NCAA basketball tournament. Like you, if it becomes an 'eat beans and rice of watch TV' deal it's gone...
ENGAGEtokens.Here on Long Island ...TV, Internet & telephone package costs over $200 a month.. That's basic TV no premium channels..That's over $2400 a yr.. basic cell phone 40 bucks a month.. that's another 500 ..getting close to $3.000 ...
It's pretty mad really right? The cost. I guess that's the way it works though; The shows and movies need to get funded somehow and so we pay for TV. It is for this reason we rarely go to the movies, which costs between $17-$22 for a ticket here. We made a choice, see movies when they hit the cinema or wait until they land on pay TV. The pay TV worked out better.
You mention basic cell phone. And right there is one of my big problems. The cost of phones, which, in the main people cannot really do without. I have a Samsung S20 and pay $130/month for the plan and to pay the handset off (over 24 months). Bloody insanity. If they got rid of all the camera rubbish in the phones they'd actually be quite cheap but no, people want to take endless photos of themselves and their food for social media. It's a grand old world huh?
!ENGAGE 25
I tried not getting a smart phone but had to get a new phone when my flip phone died... Still learning how to use it.. I use it mainly for taking pictures sic.. for Hive.. ha ha and of cause it's a great all round tool.. .I avoid monthly payments.. No loans, buy cash..
I have had a smart phone for years (unfortunately). I have two now, work and personal, one iPhone and one Samsung. Hate them both.
I have typically used the plans to purchase them as it seems easier although vowed that this was the last time. Back in March I had both my phone stolen at the same time which was problematic. I walked into the Telstra shop an hour later and walked out with a brand new one, it was pretty easy. That's why people do it, the plans; It's just easier than paying cash.
I'll not be upgrading this phone when the plan expires though, and my wife has not either. We'll use them until they can't be used I think and then go the cash purchase method. I use my phone for photos on hive a lot too, it's easy as it is almost always with me so I need a camera on it, but I miss the days when phones were phones to be honest, and they were simple. (Showing my age here.)
ENGAGEtokens.The TV service cost we don't have, and our Unlimited is pretty much on par with your cost. I have Amazon prime for the free shipping but it comes with a lot of other free things, so I use it for Movie and TV series viewing. You can even watch some of netflicks stuff if you want to deal with ads.
So at a guess about $150.00 a month covers it now, it used to be a lot higher when there was no competition for unlimited internet. Now we are not at the mercy of the conglomerates of big companies.
The TV service is the big one here as the internet is more of a requirement than a luxury. It works for now though and we don't compromise other more important things to have it so we retain the service. We have considered dropping it though and picking up a couple of the streaming services instead but currently haven't made that move. We'll see though, I mean if we could reduce by $1000 a year which should be easy it's $1000 more silver, or into my superannuation for instance. It all adds up.
At least when you go on your long drive-a-bout you can put some of the services in suspension and save a little bit while on the road.
Yep, that's the plan. We'll suspend them all, or cancel them, whatever is permissable, and then just reconnect when the get back. That's still some time away yet, but planning the financials is something we want to do well ahead of time in the advent we need to make ajustments now.
The kids mostly play video games, occasionally we'll watch Netflix or Stan, or Disney plus (should probably cull that list down to 1), but we don't really go out.
Sometimes a lunch at Fasta Pasta, when the kids are at school, but that's rarely over $50, maybe once a month (we do need food, too. So it's not completely wasted)
Only real entertainment expense I've entertained is a VR headset for HiveFest; and I didn't pull the trigger. The tech's developing so rapidly, maybe next HiveFest if we're still Rona dodging.
You guys sound like us, but we don't have the kids. We're not huge on going out too much - Sort of did that back in the day and these days are more keen for the quiet life with an occasional dinner or lunch.
I'll be hitting HiveFest Friday Am...I think it starts around 0200 our time? No real clue to be honest. I'll probably deploy around 0600 though and see if it works properly. If not I'll be gone quick smart.
You would be surprised but we
Don't watch TV at all - so no cost there
No Netflix or Spotify either
Internet 22€ a month
We are in a forced saving mode, but I have my doubts that we would have those Netflix things even if we could afford it.
What works? Outdoor activities, piano and Hive 🤣 so no time (need) for anything else
Cheap internet.
Yes, that was the cheapest fiber (I hope that it is the correct word in English?) package here, but it was a promotion from that company.
Btw, you know that I spent the money on son's dentist...so it has to be cheap :-p
Internet is really expensive here for some reason. There's cheaper ones but they are slow and limited for download so not suitable for what we need. You on the other hand need to save all your money to buy braces so your dentist can live the high life.
In another year or two you'll be able to talk to Elon. Starlink's current US rate is $100 per month plus $500 for the base station. That is for 200MBS unlimited.
Plus you can take the base with you on your year off so you don't have to leave us behind!
I should be able to get Starlink in Q3 '21. The network is moving south...
200Mb/s is pretty good. I did a speed test on mine the other day and am getting about 110Mb/s which seemed ok to me. I don't ever need anything so quickly that I can't wait a few extra seconds.
I use Telstra, Australia's premiere/main telco as all the others use Telstra's infrastructure anyway. They can be frustrating at times but so can the smaller companies. I'm not sure we can get Starlink here, or will be able to get it. Time will tell.
Oh, you'll be able to get it. He's parking the satellites north to south so you will be last. At 1800 satellites PER YEAR it should only be 3 more years for global coverage. The Space X launch frequency is just amazing. They've had 25 launches this year alone.
I tell you now, you heard it here first. Elon is going to be the biggest internet provider on Earth in the not too distant future.
I think that taking a year off to travel would be AWESOME!! It is one of my dreams too. I think it is totally possible with enough planning. Imagine waking up day after day asking "where to". Adventurous, maybe a little tiring, but totally worth it!
Yep, we're pretty keen on it. We'll be touring, stopping where we choose, staying as long as we like. It's a precursor to a life on the road to be honest, to see what we think of it and if we could do it for a few years on end. You know, be nomadic. Should be good.
Sounds like a great idea, you'll have so much fun, I would love to read all about it when it will happen
Sounds like a great idea, you'll have so much fun, I would love to read all about it when it will happen
I'm cheap and do most things that are free like walking tracks to various destinations etc. Going swimming in a lake or at the beach etc.
Free is good.
Thanks for sharing
You're welcome.
Cut the cord and get rid of cable. Mark my words cable is a dying industry and streaming will completely replace it. In 2-5 years from now you'll be saying "remember when people used to have cable!" Just the same way people now say "remember when people used to have landlines"
My dad got rid of his at&t cable. Through streaming he's getting literally every single channel he had on cable and hes saving 1000 usd a month. That's basically the same money for his land tax for the year.
Cable can't even give a true 4k signal anyways, which is industry standard for tvs. Their infrastructure is too old to do it right.
Aldo, a year of travel!!!😯. Hell yeah!
I thought about getting rid of Spotify, but I aint listening to no ads.
I'm on my sister in laws Netflix, and internet is 80 a month.
That's not too bad - I don't find I need much else. WE don't even watch ordinary telly. And SBS/ABC is pretty good too.
Ads girl...Nah mate, not interested! I'm with you on that one.
We rarely watch free to air TV, it's mostly rubbish but SBS Food is pretty good though. You seen River Cottage? That's the good shit right there.
I'll tell you a little story about River Cottage.
When Jamie and I met, we kinda hit it off super fast (if that's what you call shagging all night) and then the next day I'm in his space and he's showing me photos and stuff, you know, getting to know you kinda shyness. And he pulls this book of the shelf and goes, 'you know, this is what I'd really love - some land, some chickens...you know, be a bit self sufficient' - and the book was Hugh Fearnley Whittingstalls's River Cottage.
And within a year, we're living in country England, and we're getting Riverford veggie boxes delivered (River cottage) and I'm growing veggies and a few years after that (six?) we're living here, with chickens and veggies and Landrovers and 17 years of marriage.
Actually, met the guy as well! I have a signed postcard somewhere...
That' pretty cool, the whole story - It's interesting how our lives unfold, under our control and then at the same time not.
There's a River Cottage Australia show also. I guess you've seen it too. I like what he did, that he got in there and made things happen.