Faithful readers may recall the story of a woman in Philadelphia who decided to go over her parents’ phone bill only to discover they were paying $21 a month to lease three landline telephones—one of which they’d tossed out years ago. Failure to keep up with technology cost this family $6,000. What’s it costing you?
Just because you may have rented a piece of hardware in the past doesn’t necessarily mean it’s cost-effective or to continue.
If you have not looked closely at your monthly cable and or internet service bill lately, you should. You may be leasing a modem from your service provider. It probably made sense when you signed up for the service and were asked, “Would you like us to provide the modem as part of your service?” or something like that. And I doubt if it registered with you what that cost would be on an annual basis. Or how many years that would go on. Or that you might have the option at some point in time to provide your own equipment.
Internet and cable service providers routinely provide the modem when installing cable TV and internet service, then charge a monthly rental of $10 or so. At first that might not have sounded like such a big deal, but when you consider you’re paying $120 per year—every year—for a $70 item, suddenly that sounds like a big rip-off. Read more