It’s no surprise that many of us spend a lot of money on technology, whether it be cell phones, cable television, etc. As technology constantly evolves, nobody (OK, almost nobody) wants to get left behind. But it might shock you just how much Americans spend on technology (or maybe not, if you complain about your cable bill as often as I do).
According to a study by the American Institute of Certified Public Accountants highlighted in this US News article, Americans spend about the equivalent of 17 percent of their monthly mortgage or rent on technology! It begs the question, are people neglecting more basic and essential needs for technology?
What’s even more scary is that seemingly small or insignificant tech features can add up. For example, it usually costs money to fully use a lot of the “free” apps we love. Even services such as Pandora or Spotify can be more costly than expected because of the bandwidth they use to steam music efficiently.
The article might help you figure what you need, don’t need, or could cut back on technology-wise. After all, a balanced budget is a happy budget.
What do you think? Do you spend too much on technology? I’ll confess: I probably could survive without hundreds of cable channels and HDTV. But good luck prying my iPhone from my hand!
Then again, often times when you experience new technology, it’s hard to go back to what you were using before. No wonder it’s so hard to manage budgets sometimes . . .