SLIDESHOW: 5 Expenses Millennials Don’t Have
Landline phones.According to US Census data, 65 percent of householders between ages 15 and 29 don’t have a landline. And it makes perfect sense: Why be limited by a phone on the desk or by the bed if you can carry a smart phone with you wherever you go?
Cable TV.You don’t have to sit in front of your TV anymore to catch your favorite TV show or movie. Just head to the beach, the park or your favorite coffee shop and stream it on your smartphone or tablet whenever you like. For many Millennials, mobility—and consuming media on their own schedule—is key.
Postage.Thanks to digital signatures, email, paperless billing and online account management, we can send casual and official messages that get to the recipients immediately. And with a host of online file-sharing possibilities, even large amounts of material can be transferred to another person in the blink of an eye!
Hardcopy music.Once upon a time, recorded music was vinyl only. Then came eight-tracks, cassettes and CDs. Consumers gamely bought the appropriate playing equipment and lined up in front of stores to get the newest releases by their favorite artists. But nowadays, music lovers simply go online to purchase or stream the music of their choice. And where to store all these tunes? How about in the cloud, so you can access them on your device, no matter where you are?
Books, newspapers and magazines.Most of us have noticed the sharp decline of bookstores and news stands. Now you can get nearly all of your reading material online, in digital format. Newspaper subscriptions mean accessing the publications’ websites to get the latest news, and sometimes even exclusive digital content. And books and magazines can be loaded onto your device.
If you’re over 30, you probably remember the days of huge cell phones with spotty reception. Or waiting for the newspaper to be delivered every morning. You might recall catching up at a high school reunion, versus seeing daily updates from former classmates on Facebook.
But for many Millennials, those born after 1980, life doesn’t look like this. Why? Because of the rise of modern communications systems, like the Internet, tablets and smart phones. In fact, when the Pew Research Center asked Millennials, “What makes your generation unique?” 24 percent answered “technology.”
The evolution of modern communications technology has changed our lives so much that many Millennials just don’t have some of the same expenses as the generation before them.