A drastic paradigm shift in economic worldview

I was thinking about the way that I spent and saved money when I was younger, and then comparing it to the way that money is viewed today.  I certainly wasn't a miser in my youth but I don't think I spent foolishly either.   In my youth, people had hobbies and frivolties, like they always have, but the youth of today seem to be in a far different situation that I ever was.
The problem comes in today because of technology. Kids today have cell phones, internet access, Netflix, Xbox online, Spotify, etc etc, and all of these costing a monthly fee.  Kids today are learning to consume and not save.  And the expenditures are on non tangible items.  With our technology today, at the end of the month, there is nothing to show for it.
This isn't even to mention the incredibly high level of constant distraction that goes on.  A constant barrage of entertainment keeps our minds from considering anything of eternal value.
All in all, I really have to question the actual value of our technology.