Is that cable a cord you may want to cut?

Financial strategies for reducing budget expensesFinimize reported this week that CBS and Viacom may merge after splitting up 13 years ago. CBS’s purchase offer is below Viacom’s $13 billion accounting valuation. This is unusual in the takeover bid world. The objective of the initial split was to increase Viacom’s share value. Ironically, while CBS has grown, Viacom has struggled against competitors such as Netflix, according to Finimize.

The merger offers synergies that could result in $500-750 millions in operational accounting savings, Finimize asserts. But what they see as the bigger picture is cord-cutting in deference to online streaming services (Viacom owns MTV).

What does this mean for residents here?

It’s a sign of future times we locals should be watching and considering as we explore less expensive options to reduce our accounting and budget expenses.

Amazon Prime is currently doubling subscribers. Netflix has amassed 50 million customers. Apple plans to spend $1 billion this year on content. That’s telling when it comes to guessing how subscribers are voting with their wallet. This potential merger between CBS and Viacom underscores this reality.

When cable bills add up to $2000 a year or more for Roanoke residents, consumers are asking: do I need this? Maybe not.

Easy ways to reduce or eliminate your cable bill

TV channels often offer free online viewing of live broadcasts and certain shows. Netflix, Hulu, Amazon Prime, HBO Now, Showtime and Starz have streaming video for about $9-$15 a month. Of course, you still need access to internet service. The Roanoke Valley Broadband Authority is one alternative in the works. This entity is currently laying fiber optic cables in an effort to reduce connection accounting costs regionally.

Have you visited your local library lately? If you’re a card-carrying member in Roanoke County, you can borrow DVDs, audio books and print books throughout the County system. Just ask and they’ll be sent to your favorite branch for free pick up.

If your financial advisor isn’t offering ideas for new technology alternatives to help you reduce accounting and budgeted entertainment expenses, consider whether he’s truly focused on your particular and personalized needs. That little or big chunk of cash you’re spending each month for 600 channels and nothing to watch could add up to a lot of retirement savings.

Consider how a financial provider who puts big focus on what most others consider the little things could help make your life easier. Those accounting expenses can add up to big numbers when compounded interest plays in. Give us a call at (540) 947-4221 for a free consultation with the company owner. You’ll get an hour of expert advice, no sales pitch included, whether you choose to engage our firm or not.