If you think your family’s smartphone addiction is bleeding you all dry, you may be right.
Based on typical smartphone costs and usage patterns, your kids will end up spending a staggering $75,000 apiece on their phones over the course of their lives, according to the valuation firm Flipsy.
The average selling price for a smartphone in North America is $567, with an average upgrade cycle of 32 months. If you were to buy your first smartphone at age 18 and upgrade every 32 months until the age of 78 (the average life expectancy in the U.S.), you would purchase a total of 22 smartphones. Based on current average pricing, that puts your total expense at $12,474.
That’s a hefty bill, but it pales in comparison to what you’ll pay for wireless service. Based on current unlimited plans, you can expect to spend around $80 per month, totaling $57,600 over 60 years.
Add in 60 years of app purchases at an average of $88 per year, and the grand total you’ll pay for smartphones over your life comes to $75,354.
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