Before we moved The Wife and I had a landline as well as a virtual line that came with our triple play package.  We kept the landline because the town house was set up for one line and The Wife needed a fax line so the landline provided a ghost ring for faxes.  Now that we are in the new place we decided it was back to optimizing our Monthly Nut and the landline was the first thing to handle.  Your monthly nut is the bare minimum you must spend on expenses, bills, debt repayment, etc.  It is the money you need to meet your obligations each month.

Lower your monthly nut, and you’ll have more money to get ahead, whether that means saving for retirement, investing, or creating a large emergency fund.  My favorite way to decrease your monthly nut is to pay off debt. Once you pay off a debt and are free of that monthly payment, you automatically lower your monthly nut.

Since we are on the topic of landlines, if you’re still holding on to your landline, you’re likely paying at least $30 a month, if not more, and it is unnecessary.

Not Needed for a Security System

Some people keep their landline because they think it’s necessary for a home security system, but the market has evolved, and now home security systems no longer require the homeowners to have landlines.  The serviceman who installed my alarm system yesterday didn’t even ask about a landline yet I have monitoring. More and more security companies are eliminating the need to have a landline.

Not Needed for Home Phone Service

If you have a conservative cell phone plan and don’t want to use your cell when at home, there are other ways to have phone service without using a landline.  For instance, Ooma offers VOIP phone technology, and this service is unbelievably reasonable.  All you need is an Internet connection and the Ooma device (which runs $179, but you’ll recoup that cost in just a few months after you ditch your landline service).

Like I mentioned earlier, for us it came with our triple play package for an insignificant amount more.

If you’re trying to get ahead financially by investing or saving for retirement or you’re trying to eliminate debt, lowering your monthly nut is the best way to do this.  A few years ago cutting your land line might not have been an option, but now, with the many ways to get around landline phone service, there is no reason to keep paying for the expense.