By Greg Halbleib

BLOOMINGTON – To cut or not cut the cord? That’s the question asked by many during tax season as they review budgets.

Country Financial’s latest Security Index shows subscriptions are some of the first expenses reviewed. The survey shows about a third of cable and satellite television subscribers don’t think the cost is worth it, but a large majority believe their music and video streaming and gym memberships are money well spent.

Country Financial manager Joe Buhrmann agreed it’s OK to spend money on yourself.

“Move yourself to the front of the line,” Buhrmann said. “Pay yourself first, save a little bit and then get all those other monthly expenses paid for. Too often, we pay all of those and there’s not enough left at the end of the month for ourselves. Treat yourself with some dignity and put yourself first in this sense.”

Buhrmann suggests a 70-10-20 formula to help decide if something’s affordable. That’s using 70 percent of your income on all of your living expenses, including subscriptions, with 10 percent going to reducing debt and the remaining 20 percent into savings.

Buhrmann said any subscription can be a good value, but only if it’s used.

“Everyone at the beginning of the year went out and joined a fitness club,” Buhrmann said. “Now we’re a couple months into it and suddenly maybe it hasn’t become a habit. We’re continuing to pay for that but not necessarily enjoying the value of that.”

Buhrmann said subscriptions, whether for video, music or the gym, can come with fine print that can turn costly.

“In many cases, the big print giveth and the small print taketh away,” Buhrmann outlined. “So if you do enter into some of these services, always see what are my obligations, how long do I have to commit to that, are there fees I’m going to pay to get out of that.”

Greg Halbleib can be reached at [email protected].