It Seems Millennials are Spending More in Certain Categories

Hmm lots more eating out and coffee shops.

Millennials spend more than an average of $2,300 per year than older generations on five key items: groceries, gas, restaurants, coffee and cell phone bills, a recent study released by personal-finance site Bankrate.com found. Millennials spend $233 per month on meals versus $182 for older generations, and $161 on cell phone charges versus $135 for older people (but they spend $1,130 less per year on travel and TV). For TV services like cable, satellite and steaming/subscription, millennials spend just $80 per month, compared to $114 for those aged 37 and up.

That cell phone bill thing is going to go up and up as we go forward. Much of that bill is a monthly charge on the phone because almost no-one is going to buy an iPhone8 outright.