You're throwing money away if you use the modem your cable company gives you

I've wasted hundreds of dollars over the last few years.What makes this hurt even more is that I've given that money to my cable company.That's because I've been "renting" my modem, paying a $6 monthly fee to Time Warner Cablethe only real broadband provider in my areafor the privilege of borrowing an ugly black box that plugs into my wall.But thats about to end, because I finally bought my own modem.Buying your own modem might seema bit intimidating at first.The cost, depending which one you buy, can rangefrom around $70 to more than $100. But considering your monthly rental fee Comcast charges a whopping $10 per month to rent a cable modem, and Time Warner Cable charges $6 per monththe modem may end up paying for itself in less than a year.Here's how I did it:Many of the largest internet service providers (ISPs) provide lists online of modems that are compatible with their services.Here are themodems compatible with Time Warner Cable, Comcast, Charter, Cox, and Cablevision.Fortunately, theARRIS / Motorolamodem recommended by the Wirecutter, a product recommendation site that I trust, iscompatible with Time Warner Cable.I bought that modem for $90 on Amazonand I'm planning on setting itup in the coming days. After that, I'll return my modem to Time Warner Cable and hopefully the company will stop charging me.(That may be easier said than done. A colleague of mine bought his own modem, returned his leased one, and Time Warner Cablecontinued to charge him for months afterward. He told me he had to call several times before the company removed it from his bill. Whatever happens, I'll be sure to write about my adventure on Tech Insider.)A couple of notes: It's important to know what kind of Internet service you haveif it's cable, DSL, or fiberand get a modem that will work for you.Also keep in mind that your modem is not the same as your router, which is the devicebroadcasts your Wi-Fito you. You may be renting a combination modem/router from your cable company. If that's the case, thenconsider buying a wireless router, too. Check out the routers The Wirecutter recommends.Join the conversation about this storyNOW WATCH: How to make your iPhone run faster
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