Happy Halloween from Team SmartCrowd!! Here are 5 “scary” things millennials are doing with their money! As humans, it’s normal for us to have urges to spend money on certain things that we might think we need, but once again, it’s all that we think we need but not what is actually needed. Especially when it comes to the millennial, the priorities and spending habits are adversely different from other generations.
Millennials get coffee twice as much as the other generations. It is definitely one of those things that millennials spend quite a bit of money on – on average, just over $2000 a year!
Truthfully, the economic state that we’re in doesn’t necessarily allow young people to buy houses. With that being said, millennials are moving bodies, regardless of whether they buy a house or not, so it’s absolutely normal for them to be renting instead which depletes a significant portion of their earnings!
Avocado this, avocado that. Most popularly, avocado toast, but sadly, this healthy meal option can be deemed as quite costly for an everyday individual. Actually, most millennials are diverting towards more organic meal plans. However, eating unhealthy is much cheaper than taking care of food choices and actually eating healthy. While this “superfood” might be great for you, it’s definitely one that makes a dent in your bank account over the long term!
Entertainment subscriptions are the new cable these days. All streaming platforms like Netflix, Hulu, Amazon Prime – name it, and a millennial might just be subscribed to one of them or in the worst-case scenario, all of them. It certainly is one of those things that millennials that spend money on, and since it is not tangible spending, they lose track of it.
Debt is scary. Not just for millennials but for anyone who’s got a lot of debt to pay off. Whether it’s paying off a credit card loan or a college debt, a whole lot of money is surely being spent on this one endeavour!