Is Technology Erroding Our Savings?
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How many of your current bills go toward technology that didn't exist ten or 15 years ago? Taking a look at my personal budget, 7.5% of my total monthly spending goes toward basic cable, internet and cell phone bills—all of which have only recently become staples in our lives.
If that doesn't mean much to you, consider this fact—if I were to take the money that I spend each month on these "new" technology bills and start putting it into my savings account at just 3% interest, I would total over $41,000 in additional savings after 30 years. And ...