Yesterday’s Necessity is now a Luxury
The Pew Research Center conducted a poll of over a thousand Americans that covered what household appliances and items they considered necessities and how they are reassessing spending in the face of the economic downturn. Not surprisingly, more things are considered a luxury now than they were a couple years ago. Notably, only 52% of Americans describe a TV as a necessity anymore, down from 64% three years ago and the lowest total since Pew began asking that question in the 1970s. Similarly, those considering a microwave a necessity fell from 68% to 47% in the last three years.
Other changes in spending were reported in the survey. For instance, 24% of people reported reducing or canceling a cable or satellite TV subscription, while 28% cut back on spending on alcohol or tobacco. Hopefully this last one is not just because heroin has become cheaper than a six-pack of beer.
Certainly this is just more evidence of the great re-prioritization going on in America right now. Again, this is both evidence of terribly difficult times but emblematic of the silver lining to a recession, in that it gives all of us an opportunity to reevaluate our finances, professions, and personal lives and make sure we’re happy with where the choices we’ve made have taken us.

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