Technology spending passes spending for utilities

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According to a January report by iYogi Insights, 63 percent of people currently pay 35 percent more for technology bills than utility bills.

To put this in perspective, the U.S. Department of Energy says that most people spend about 6%-12% of their income on regular utilities.  Let’s take a poor college student who makes $12,000 a year.  Six percent of that is $720.  Take that and add thirty five percent, and you get $972.  Now remember how you complained about having to pay $5 for parking.[media-credit id=148 align=”alignright” width=”199″][/media-credit]

Do Americans realize how much they are spending on technology?  Perhaps the better question is do we think its worth what we spend.

IYogi Insights reached an interesting conclusion that perhaps technology is in fact the most important utility today.  Paying for a data plan on your phone and fast internet at home might be just as important as having hot water and electricity.

To break down technology payments, iYogi found that $94 per month is spent for mobile services on average, with $19 a month spent on various downloads from the web.  Internet service providers get another $20-$180 per month, and cloud services like Dropbox get $10.

Resistance to technology advances seems to be decreasing, which might be because the Millenial generation is growing up.  Another report by iYogi found that 33 percent of parents have bought or are willing to buy an iPad for their kids.

 

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