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Here’s What Millennials Are Spending Their Money On

La Crosse, WI, United States / KICKS 106.3
Here's What Millennials Are Spending Their Money On

A new survey from LendEDU shows what millennials are spending their money on, and it’s saving for retirement is not much of a priority for many of them. In fact, 49 percent of spend more money eating out than they do saving for retirement. That 49 percent spends around $163 a month on restaurants and dining out.

More so, on average they are spending $281 per month on groceries. Wait, what?! I spend $175 a month on groceries, what the heck are you buying that jacks your monthly cost up so much?

Here’s the breakdown:

• $38 per month on coffee

• $75 per month on alcohol

• $39 per month on marijuana

• $281 per month on groceries

• $49 per month on concerts, sporting events, and other events

• $43 per month on tobacco, vaporizer, or JUUL products

• $7 per month on music streaming services

• $23 per month on gym or exercise expenses

It’s probably a good idea to take the money from a few times you would be dining out and put it away for retirement, because social security is basically going to be non-existent. It already looks that way for Gen-X’rs. -GM

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