There was a recent <a href=http://finance.yahoo.com/family-home/article/111556/the-true-cost-of-your-wish-list?mod=oneclick>article </a> about the true cost of owning certain items.
Even though the initial price of items may not seem like a lot but some things have higher costs to own than you may realize. Some of these include e-readers, smart phones, and other gadgets.
The number of consumers buying e-readers, like the Kindle or Nook, tripled this year, to roughly 6.4 million, according to the Consumer Electronics Association. Once they own the device, consumers buy about three books a month, according to Marketing and Research Resources. That totals about $300 to $380 per year on books, plus the cost of magazine and newspaper app downloads.
Over the course of a two-year smart phone contract, the average buyer pays $2,140 for their plan, plus talk time, data, and extras, according to BillShrink.com, which tracks the wireless industry. That’s up 13% over the past three years. Then there’s the tax bill. On average, wireless service is taxed at about a 15% rate.
Video Game Systems
Nearly 70% of U.S. households play video games, according to the Entertainment Software Association. And while major manufacturers, like Nintendo, Sony or Microsoft, haven’t introduced new systems lately, they are rolling out new, pricey accessories. For $150 each, Microsoft’s Kinect motion controller for Xbox 360 has sold more than 2.5 million units since introduced last month, for example. The average gamer also buys four games per year at an average cost of $40 each, although prices run up to $100. And then there are the extra remotes. The Nintendo Wii system, for example, comes with only one remote controller, even though up to four people can play; each remote is $30 or more.
Another thing that wasnâ€™t included in the article is pets. Humane Society employees report a larger number of pets being abandoned after the holidays. One reason may be that people donâ€™t consider all of the extra costs associated with owning a pet and find they cannot afford to keep it.