National Cut the Cord Day is February 9, and if you’re looking for ways to trim your expenses, check out my guide here. But today, let’s talk about what to do with the extra cash and time you’ll gain after ditching cable. Cutting the cord could save you anywhere from $40 to $140 per month and free up about 33 hours a week. That’s a lot of potential! So, how can you make the most of your newfound resources? Let’s explore some impactful ways to reinvest in yourself and your future.
Build Your Savings
One of the simplest ways to use your extra cash is to stash it in a high-yield savings account. This could be your emergency fund, holiday budget, or vacation piggy bank. Even small, consistent contributions can add up. For instance:
- Saving $40 per month at a 4% interest rate (compounded monthly) for five years would grow to $2,700.80.
- Investing that same $40/month in an option that yields 10% could bring in a whopping $8,302.08 after 10 years.
Boost Your Budget Elsewhere
Inflation isn’t playing around, and a little extra in your grocery or gas budget can help offset rising costs. You could also use your newfound funds to enhance another budget category—maybe upgrading your internet plan for better speed or setting aside money for an annual streaming subscription that still costs less than cable.
Give Back
If you’re feeling generous, consider donating to a charity or cause close to your heart. Time is just as valuable as money, so you could also use your extra 33 hours per week to volunteer at a local shelter, mentor someone, or get involved in a community initiative.
Pick Up a Side Hustle
With more free time, why not earn some extra cash? A part-time gig at just 20 hours per week at $15/hour could net you an extra $300 weekly. That’s serious money that could go toward financial goals, debt reduction, or fun experiences.
Start a Budget-Friendly Hobby
Hobbies don’t have to be expensive! Consider options with low or no startup costs that could even generate income, like blogging, gardening, photography, or refurbishing furniture. Bonus points if your hobby helps you save money elsewhere, like couponing to cut down grocery bills or upcycling old furniture to refresh your home decor on a budget.
Learn Something New
With online courses, apps, and library resources, learning a new language, skill, or craft has never been more accessible. Many platforms offer free or low-cost learning opportunities that can enrich your life and even improve career prospects.
Read or Listen to Books
Books offer an escape, knowledge, and entertainment—all at little to no cost if you use your local library or find deals on secondhand books. And let’s be real: the book is almost always better than the movie or TV adaptation.
Strengthen Your Relationships
Use your extra time to connect with loved ones. Play board games, take a nature walk, cook together, or have a movie night (with that cheaper streaming service you switched to!). Investing in relationships pays lifelong dividends.
Join a Club
Whether it’s a book club, fitness group, or a gaming meetup, getting involved in a community activity can enrich your social life and give you something to look forward to. Plus, many clubs are free or low-cost!
Final Thoughts
Cutting the cord isn’t just about saving money—it’s about taking back control of your time and resources. Whether you choose to save, earn, learn, or connect, the possibilities are endless. So, Super Savers, what will you do with your extra cash and time? Let us know in the comments!
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