Almost all of us have a Netflix account, or at least share a Netflix account with a family member, friend, or maybe a family member’s friends brother’s dad’s friend’s dog’s previous owner’s account! But how much does Netflix cost? A lot of us don’t even know the price since we share an account with someone, but even those who own an account may not know the true cost of Netflix!
The dollar amount: How much does Netflix cost?
Most of us are familiar with the fact that Netflix is a service that offers a tier based price structure, but if you’re curious of those dollar amounts, I grabbed this screenshot from their site (as of April 11, 2018 – the date this article was written) which you can access here!
You can see that a basic account costs $7.99 monthly, the standard tier is $10.99 a month, and finally their premium tier comes in at $13.99 a month. Over the course of a year, you may end up spending roughly $100 to $170, which for many people could be the monthly price of a traditional cable bill! In reality, people often save a lot of money by paying for Netflix, but there’s something they’re not taking into account…
How much does Netflix cost? You could be missing the big picture!
Think about your Netflix habits. I’m sure at some point in your life you’ve spent an excessive amount of time binge watching dozens of episodes in a row of your favorite show. I’m certainly guilty of having done so in the past. About a year ago, I finished nearly a whole series within the course of a week! But I’m sure a lot of you Netflix “Olympians” are looking down on me thinking that’s nothing compared to the three days straight you stayed up to complete a whole series without sleeping! The point is, people watch a lot of Netflix…
The biggest cost of Netflix that people fail to see is the opportunity cost.
It’s easy for us to quantify the dollar signs that we see being removed from our bank account each month. It’s also easy for us to justify that expense because of the massive savings we achieve through purchasing Netflix rather than cable. However, the hard thing for us to realize is that by spending multiple hours watching Netflix, we’re missing out on a lot of opportunities to do other things!
Think about that rent that you’re short on, that meal you wish you could afford, or that investment account you wish you could contribute more to. We’re constantly watching TV or doing something that doesn’t benefit us in the long run. We go to work a few hours a week, go to class another few hours, watch some TV, and go out drinking at the bars, but when we come up short of money at the end of the month we’re puzzled and we wonder why!
The true cost of Netflix is that many of us are addicted to watching TV rather than doing something to benefit ourselves. Think about if you spent that time reading an article or a book to learn more on a subject in your career field, or spent it listening to a podcast, or picking up a couple more shifts a week to earn some more money! Maybe at the end of the month, you’d come out with a little bit of extra cash, instead of a little bit of extra debt on your credit card…
So how much does Netflix cost?
That’s up to you!