In 2004, the median household income was $44,334 – nearly nine grand less than today’s estimates. Unemployment sat at around 5.4 percent for much of that year, and it was a year of memorable events like Janet Jackson’s Super Bowl incident and Ken Jennings’ Jeopardy winning streak.
While 10 years may not seem like that long ago, this past decade has brought some remarkable changes. Along with those changes have come novel expenses. While some of these expenses are designed strictly for our entertainment and are therefore non-necessities, others have served as substitutes for more expensive products. Here are some expenses you may have in your budget today that you most likely didn’t have just a decade ago.
1. Social Media Management
Back in the days when Facebook was called “The Facebook,” you may have been on MySpace, social networking with a few friends and co-workers. But these days, you can choose from Facebook, Twitter, Vine, LinkedIn, Google+, or Instagram — just to name a few. This way of communicating has become so increasing popular that some professionals and celebrities hire social media professionals to manage this aspect of their careers.
The cost of social media management can weigh heavy on the wallet. A Forbes article indicates that social media popularity generally cost around $6,800. This price will get you around a million Twitter followers or a million YouTube views. Even if you don’t pay someone to do your social media networking, completing this networking yourself takes your time and time, of course, is money.