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Wednesday, June 28, 2017

This is why millennials can’t have nice things (or save any money)

Minor expenses can cause major financial problems.

“Millennials are falling victim to common financial vices, such as spending money in coffee shops,” according to a new study by personal-finance site Bankrate.com. The average millennial dines at a restaurant or buys take-out food five times per week and nearly 30% of this age goup say they buy coffee at least three times per week. More than half of millennials (54%) eat out at least three times a week, compared to roughly one-third of Generation X-ers and baby boomers.

“Often, it’s the minor, habitual expenses, such as take-out and alcohol, that wreak havoc on your budget,” Sarah Berger, a financial analyst at Bankrate, said. “Preparing meals at home and brewing your own coffee can add up to big savings.” Some 59% of all age groups say they don’t purchase any brewed coffee or tea in a typical week and 40% say they buy take-out or dine at a restaurant no more than once per week. But that doesn’t mean they’re all cooking at home.

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5 comments:

Anonymous said...

Oh man, if only I didn't spend my hard earned money on a $3 crappucino I could afford to buy a crap house in the crap economy YOUR generation gave to us.

Anonymous said...

That's the problem with your thinking. Save your hard earned money and build a decent house. You have to earn things in life and not make excuses why you don't have anything.

Anonymous said...

3:10 You poor little thing mommy will let you live in her basement until your 40 excuses excuses excuses lol

Anonymous said...

310, you have lots of seasoning yet ahead of you. Then the lightbulb will come on for you. Until then, just keep fighting your life away. Its ok, since its entertaining to OUR generation - which by the way does pay your way MORE than you think. You're welcome too snowflake!

Anonymous said...

Millennials are lazy, disrespectful, intolerant, ignorant, and clueless. Granted they are tech savvy but operating the old X box and winning at dungeons and dragons doesn't pay rent. They are so hooked on electronic media they have lost the art of social interaction. This is why Bernie Sanders found the niche; Socialism...all things free.