Younger generations will never understand the struggle of having a house full of people but only one landline phone. 

It’s nice to have access to evolving technology that older generations didn’t experience growing up. Baby boomers missed out on the ease of the digital age. But they also didn’t have to deal with the high cost of shiny new tech, like smartphones.

Is Gen Z paying more than our parents did for modern-day conveniences? In some cases, yes, but in other cases, no. 

Take cable TV, which older generations still relish for reliability and ease (or sentimental attachment). Basic cable TV and internet costs an average of $144 a month, according to CNET’s expert We Do the Math series. My personal roundup of streaming service subscriptions doesn’t come close to that price -- until you factor in the cost of the internet. 

Do we spend or save more than our parents?

Raise your hand if you’ve ever heard an older family member say, “In my day, this cost a quarter.”

Inflation, the rising cost of goods and services, chips away at our purchasing power. It makes things more expensive, cutting into our budget. 

We’re certainly paying more for things than our parents did, but is technology part of the problem? Or is improved technology actually helping us save money, while also offering us more convenience and variety?

After recently writing about my parents’ financial tips, I was inspired to dig deeper and compare the costs of my monthly expenses to those of the baby boomer generation. Let’s see who spends more on the basics.

Read more: Guess What? My Boomer Parents Were Right About Money

Cable TV vs. streaming services