Cohort Effects

In: Business and Management

Submitted By Didds5656
Words 294
Pages 2
With each generation comes change. These changes are evident in style, technology, temperament, political, cultural and economical differences. There is a reason that many parents and grandparents use the term, “back in my day.” Economically speaking, the value of the American dollar and the cost of goods and services are vastly different from when my grandparents were growing up. For a mere .25 cents they could see a movie and grab a snack. In 2016 you can’t buy much of anything for a quarter.
I was taught growing up to be very frugal. My influences were my parents and grandparents who are all very different with their spending habits. The one thing that was given to me at an early age was the difference between want and need. With the technology available today it is very hard for my grandparents to understand why anyone would need to purchase a phone that costs upwards of $600. I was 25 years old before I purchased my first smart phone and the look on their faces when they heard the price was comical.
The aversion my grandparents have to spending mass amounts of money on things that they deem frivolous is completely understandable. They are both in their 80s and grew up during a time when even shoe leather was rationed. Everyone was poor but survived and even thrived after the war. After showing them the advantages of having a smart phone, despite the cost, they seemed to understand. Knowing that the phone has GPS, and other safety features was probably the only thing that really sold them on the idea. As wonderful as technology is I can completely understand their views and almost wish things were as simple as they were back then. Cheaper…...

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