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The Dish: You can’t feed your family with a new TV

You Can’t Feed Your Family With A New TV

People seem to make the mistake of assuming that an ability to afford some fancy electronic items means you are therefore not poor or struggling. This chart should make it more clear that that is not true. I myself had to buy a replacement phone recently…I spent sixty dollars (unsubsidized) on a phone which had power and performance equivalent to the first smartphone I purchased in 2011…which though it was subsidized by the carrier had an unsubsidized retail price of roughly $350. So in 3 years, the price on a midrange phone has dropped 85%. But food prices and rents are going up.

To make it worse, you can literally finance phones now. It wouldn’t be particularly difficult for someone to pay $25 a month in installments to purchase an iPhone. Is it a bad idea? Yes, purchasing anything with debt that you don’t need to is a colossal waste of money, especially if you don’t have the credit score necessary to do it without interest (like many can do with cars for instance). But that won’t stop people from doing it. And a lack of financial sense does not exclude someone from deserving a basic standard of living.

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