Millennials have unique taste. It’s partly shaped by economic issues (as in, we don’t have much money). But it’s also shaped by what we value. Our spending habits are a reflection of necessity and personality, and thankfully for us, we've got great personality. Think you know millennial spending habits? Check out 20 things that millennials spend more money on than any other generation.
Well, duh. We prize being connected, and we also couldn’t live without them. (There is no point in saying I could survive a week without my cell phone. I actually do need it – for my social life, work, scheduling, setting timers and alarms, tracking workouts, etc.).
Millennials buy coffee nearly twice as often as older generations. They spend about $80 per month, which is pretty darn high compared to the running average of $67 a month. It's not our fault our elders lack a truly mature palate!
3. Taxis and Ubers.
Say hello to the sharing economy. But let’s be real: part of this is because plenty of older generations would say, “Uber? What’s uber?”
4. Clothes we don’t necessarily need.
5. Comfy clothes.
We don’t dig putting on airs like our elders do. What’s the point? Because of this, plenty of us go for athletic wear and casual clothing far more often than any other generation. It helps that a lot of us are working from home and don’t have to worry about office wear like our parents had to.
6. Baby clothes.
‘Cause we have oh-so-many baby showers to go to, and adorable baby clothing takes adorable to a whole new level.
7. Live music.
Because we believe in paying for experiences, and because there are way too many music festivals to choose from.
8. Live events.
Because that is what community calendars are for.
9. Live sports.
Why would you watch it on TV if you could be there instead? Millennials, as you can tell, really prize the live experience.
Hey, don’t knock ‘em til you try ‘em! We millennials love our furry and fuzzy friends, but we don’t discriminate when it comes to pets. In fact, we’re buying up pet snakes faster than any other age group. We also love spoiling our pets. We’re more likely to splurge on Fido (and show it off on his Instagram) than splurge on ourselves. #Selfless, really.
11. Hot sauce.
Millennials love it. Probably because we didn’t grow up with the same white-bread tastes as our parents. We dig different cultures and their foods, and that translates to hot and spicy Mexican, Thai, Korean, and more.
12. Organic food.
Because we care about being healthy. Duh.
13. Same-day delivery.
Millennials want it, and they want it now. But really. A hallmark of the millennial generation is the desire for immediate gratification – screw the marshmallow test, screw good things come to those who wait! Good things come to those who pay extra for same-day delivery. We buy into same-day delivery more than any other generation.
14. Fast food.
Because we are, always, in a hurry. (How else am I gonna pay off those student loans?).
Over half of millennials have gotten a tattoo, dyed their hair a crazy color, or had a body piercing somewhere other than the ear, and this applies to men and women. (I can happily say check, check, and check on these three). Millennials are all about body modification, and they’re not ashamed of it. The culture of piercing and tattooing has transformed with millennials – our parents think it’s trashy or edgy, but we have dorky friends, sporty friends, military friends, and preppy friends who are all covered in tattoos. We see them as personal and meaningful far more than trashy and edgy (but what's wrong with trashy and edgy?!).
Yeah, we cool like that.
Millennials have a lot less dough than previous generations – they didn’t exactly dive into the economy at the best time. Because of this, many value experiences, like being able to travel somewhere new, more than luxuries, like that diamond necklace that we’d never be able to afford anyway.
Whereas older generations had high hopes for house ownership – and many made it happen – with most of us millennials, it’s just not going to happen. For one, the economy sucks. But for another thing, we like moving around and being free – a house payment sounds like the opposite of that.
Millennials aren’t just throwing their money at avocado toast. They’re also spending far more on education than any generation before them. #Studentloandebtforlife.
But we do really like avocados.