You could earn one million dollars, just by NOT watching television? Well, according to the stock market news website, TheStreet.com, there are a lot more costs to watching TV than just your cable bill. Here’s how the numbers add up.
- The TV. The cost of the set itself can be as high as several thousand dollars for a plasma flat screen. Then multiply that cost several times, because most people have 3 TVs at home – and because you’ll own many TVs during your lifetime.
- The Entertainment cabinet. The furniture that holds your TV and components can cost several hundred dollars or more.\
- Cable. A cable or satellite package will cost you anywhere from 20 dollars a month for bare-bones cable channels - to over a hundred dollars a month!
- All that Pay-per-view! Many sports and entertainment events can only be watched on pay-per-view, which could do you in for another $100 dollars a month. And don’t forget movies! You’ll either have to buy them or rent them and pay a monthly fee.
- To watch those movies, you’ll need a DVD player, which you’ll probably replace several times over the years as technology improves.
- If you get into games and gaming systems, there’s no limit to what you can spend. And don’t forget about the electricity bill you’ll payto run all this stuff.
- There're hidden costs like the commercials! Experts estimate that we increase our spending by $200 dollars a year for every hour of TV we watch a week. Nielsen Media Research reports that the average person watches approximately 31.5 hours a week. That means that the average person spends an extra $6,300 a year due to TV commercials.
- Add that to the opportunities you give up when watching TV. If you started a business or worked part-time, you could be making hundreds of dollars a month in the time you spend in front of the tube. Add all that up, and a 25-year old who invests the money they’d spend on a TV and all the extras, by the time they’re ready to retire, could end up with over 3 million dollars!