Five Areas Where We Spend Less Than You Did Decades Ago

People often feel nostalgia for the past, viewing it as a simpler time. It’s also common to look back and see how price inflation has impacted us today. Despite this, there are actually parts of life where we are spend less. As our lifestyles evolve, some things become less important. Other things are replaced with cheaper alternatives, or the cost to create the product is reduced.

Over the past decade or two, I see some areas of life where my quality has significantly increased but I spend less to obtain this standard of living. Often, this has to do with the evolution of technology or reduced costs in production. Regardless, the consumer benefits from these advances.

There are likely more areas where we are spending more money than we did in the past. Usually, this is more expected. The areas where we spend less often go ignored, but should be celebrated as a welcome change looking at our budgets.

Portable Technology

When I leave my house I take three things: keys, smartphone, and wallet.

In 2008, this was a different picture. My pockets were much bulkier, and I was taking multiple gadgets with me when I left the house. Depending on the event, I had a cell phone, digital camera, iPod, and GPS. Now, all of those devices are housed in a single smartphone. In fact, some people are so dependent on their smartphones they’ve replaced gaming consoles or computers.