TV is a central part of modern day family life but it can be a costly expense, especially in the current climate. However, it seems most of us would rather cut spending in other areas before cancelling our family TV subscription, according to new figures.
Santander found that around 15 million (61 per cent) households in the UK currently subscribe to a monthly paid-for TV package, the vast majority (58 per cent) of which are held with Virgin Media or Sky.
What would go first?
As many as 11 million (75 per cent) of these families admitted they would prioritise spending on their TV package over many essential everyday items and also holidays, going out and even weddings!
In an effort to reduce their monthly spending, 47 per cent said they would cut back on the amount spent dining out, while 30 per cent would cut-back on clothes and personal grooming items in order to keep hold of their package.
A further 24 per cent of us would sacrifice spending on sports and leisure activities in order to keep our channels in tact.
Almost a third are prepared to cut back on holidays and 26 per cent willing to skip a big purchase such as a car. A dedicated 9 per cent are even ready to postpone their nuptials.
Finding the best deal
Unfortunately, around 3.6 million household subscribers (22 per cent) are reducing their monthly spending to allow for their TV bill.
Up to 11 per cent have already reduced dining out/going out spend to preserve their TV package, with 6 per cent having cut back on supermarket shopping. A further 6 per cent have spent less on their holidays, while 5 per cent revealed they had passed up the opportunity of a big purchase.
So, before you feel the need to make such sacrifices, check to make sure you are getting value for money when it comes to your current deal.
Many companies now offer packages that include your TV subscription and other things like broadband and phone calls. Such deals can save you money and eliminate the hassle of having to pay three separate bills at the end of month.
Something else which might be worth checking is a new television YouView box, available to buy from August.
It combines Freeview channels with the internet and on-demand television and could save you money in comparison to your present deal.