Beginning February 18, 2009, analog television signals used by rooftop antennas and rabbit ears will be shut off.  An estimated 20 million Americans continue to receive their television fix through these means and will need to make plans to invest in alternatives or prepare for life without Ryan Seacrest, Oprah and all of the Desperate Housewives.

Here are the solutions:  Invest in a new Digital TV or DVD recorder, subscribe to cable or satellite service, or purchase an analog-to-digital converter.

As a credit counselor, I’ve advised many clients to forego the luxury (that’s right, I said luxury!) of cable television in order to prioritize other financial goals like paying off debt, purchasing a home or simply making ends meet with a monthly household budget.  If that’s you and you feel you just can’t live without your TV “fix,” don’t miss out on the estimated $1.5 billion dollars our government has set aside to subsidize the purchase of these converter boxes.

Bottom Line:  Watch for subsidized coupon announcements available beginning January 1, 2008, and don’t wait to request up to two per household if your sets require one.  Subsidized funds may dry up and there will be no income qualifications to request these coupons, so I’m confident we’ll see people taking advantage of the system and selling these coupons on EBay.  The price of these converters hasn’t been set yet but is expected to sell for $50 - $70 each.  If you’re on a fixed income or a tight budget, you won’t want to miss out on $40 worth of savings.