As my monthly communcations bills start to approach my mortgage payments, I was wondering whether I was the only one that had this unique financial problem. Apparently not. Spending on mobile-phone services has soared nearly 50% between 2007 and 2013, according to the Wall Street Journal (WSJ).
The WSJ did an detailed analysis of consumer spending habits based on Bureau of Labor and Statistics (BLS) and found that certain expenses, particular communications and health care, have been rising quickly and contributing to a disproportinate amount of rising spending.
“In Kansas City, Mo., Dawn Miller said her family’s cellphone bill has grown from $35 a month years ago to more than $350 some months today, depending on whether someone in the family blows past their plan’s monthly data limit.
“Because the Verizon bill is so expensive, and because it changes month to month, you have to cut back,” said Ms. Miller, a police dispatcher.
Think that’s bad? Check out home Internet services. They’re up 80% over the same timeframe, according to the WSJ study. That’s nearly double in a six-year period. During post-financial collapse deflationary near-depression.
Some of that money has to come from somewhere. Residential phone spending is down 30%, showing that many people have subsituted either mobile or VOIP for the traditional telecom landline. But VOIP deflation has apparently not made up for mobile inflation.