$1700 phone, $1500 laptop, and tons of other expensive devices... Where did it go wrong?

Americans are buying more expensive stuff than ever before. What the heck is going on?<br><br><br>The average price of a phone in the US is $800. The average price of a laptop is $750. We're buying more expensive stuff, but is that really what's happening?<br><br><br>Here are some reasons why this is happening:<br><br><br>**Inflation**: The prices of things are going up because of inflation, but even when you adjust for inflation, prices are still going up.<br><br><br>**Lack of price controls**: There are no price controls, which means companies can charge whatever they want for any product. The government does not control prices.<br><br><br>**No budgeting**: Most people don't budget properly. They don't keep track of their money.<br><br><br>**Not saving**: Most people do not save for the future. Most people live paycheck-to-paycheck.<br><br><br>**Credit**: Credit cards and loans make it easy to spend money on things we don't really need.<br><br><br>**Advertising**: How many times do you see an ad on TV for a new smartphone? Most people don't need new phones every year or two, but we think we do because of advertising.<br><br><br>**Comparison and understanding**: We compare ourselves to other people. What is important is understanding what you need and can afford, not comparing yourself to others.<br><br><br>**We're being fooled by cheap phones**: Companies are selling cheap phones as well as expensive phones, which may make us think that we're getting a better deal with a mid-range phone than we really are.<br><br><br>**We're getting fooled by finance**: Financing plans where we pay monthly for products can make expensive products appear more affordable than they are.<br><br><br>I would love to hear your thoughts about this video.