Save Benjamins’ by buying your own cable modem
Do you know how much cable companies like Comcast make on modem rental fees from customers like you?
Let’s break down the numbers:
- Comcast has an estimated 26 million internet customers
- Average rent fee for a cable modem is $13 / month
This means:
26,000,000 Customers
X
$13 / month rental fee
=
$338,000,000 monthly revenue
Okay, not all 26 million people are crazy enough to donate $13 dollars a month to Comcast, right?
Well.. the reality is that 90% of the 26 million are renting their modems. Let’s redo the math:
23,400,000 Customers (90% of customers)
X
$13 / month rental fee
=
$304,200,000 monthly revenue
Roughly 33 million dollar difference – No biggie (for Comcast).
The point is that BIG cable companies make a SHIT TON of money from customers like you and I on rental fees alone. More than a BILLION dollars a year. This is crazy. Let’s do something about it.
So what I do about it?
STOP donating to your cable company and buy your own modem!
I will show you how below. But first, let’s look at the story of John, Susie and Billie:
John is angry. He read this post and found out he donated over $700 dollars to Comcast over the last 5 years of being a customer with them because he was renting his cable modem. He is going to purchase his own modem right now. You can’t tell now, but John is starting feel like he is taking control over his life and has a growing smile inside.
Susie is happy go-lucky. She also is a loyal customer of Comcast for the last 5 years like John. However, she bought her own modem last year for $50 bucks. Susie donated $624 in all but after buying her own modem she knows she is no longer getting ripped off and can run happily ever after. Oh and the $50 bucks she spent on her modem? She made that back in less than a year!
Billie, oh god Billie – where do we start? Well, Billie is rich. Billie has been a loyal customer of Comcast for the last 6 years and has no interest (even after reading this) of buying his own modem. Billie likes to donate. Fast forward 4 years and $1,560 in donations later, Billie is still good ol’ Billie. If only he’d donate to us vs large cable companies. SMH.
The moral of the story is that it is okay to be John – it is even better to be Susie but for god sake don’t be like Billie (Unless you are rich). And let’s face it, we all are in one shape or form. But still begs the question – why make companies like Comcast rich vs making your self richer?
Okay, the mic drop convinced me.
How can I buy my own modem? And what do I need to know?
Here are three modems that’ll get you up and running – lickity split:
1. ARRIS Surfboard Cable Modem (no-wifi) – $69
Certified for Comcast Xfinity, Spectrum, Cox, Cablevision & More (SB6183 White)
Look – this is a nice modem. This will work for 99.9% of you out there.
PROS:
- Cheap – Get your money back in 6 months!
- DOSIS 3.0 – you can’t go wrong
- 3,000+ 4 star reviews!
CONS:
- Have to hide it somewhere in a closet (but who cares? as long as it saves $’s)
- You will need a wifi-router (but you should have one of these anyway)
2. MOTOROLA Cable Modem + WiFi Router – $129.98 (buck 30)
Certified for Comcast Xfinity, Spectrum, Cox, Cablevision & More (MG7540 Black)
Up your game with this modem and wifi router combo.
PROS:
- Money back in less than a year!
- Comes with a wifi-router so you don’t have to purchase one
- 1,400+ great reviews!
CONS:
- Let me know if you think of one
3. NETGEAR DOCSIS 3.1 Gigabit Cable Modem – $169
Certified for Comcast Xfinity, Spectrum, and Cox (CM1000 Black)
Woah – this modem is the shit. Top of the line. Only get it though if you are a nerd or have the fastest cable speed from your provider ( I mean the fastest they offer)