10 things millennials are not spending their money on
The generation that's so often criticized for how much they spend and how impulsive they tend to be is actually a lot more frugal and fiscally calculated than it appears.
Millennials are the experts and primary users of apps and technologies that make it easy to spend and share money, from Venmo to Uber to Postmates (the last being an on-demand delivery service that pays for delivery of any item you can imagine.)
But when it comes to buckling down and examining their spending in the long run, millennials make spending cuts, and big spending cuts at that.
Millennials have grown up in the aftermath of the Great Depression and recession, and have seen the result of overspending and failed budgeting by the generations before them.
Take a look at the top retail brands for millennials:
Though they're more apt to spend money on things that older generations may deem extraneous and unnecessary (such as the latest technologies and organic food), they also hold back on large luxuries and other expenses that may have almost seemed necessary to generations prior (such as lavish weddings and having children).
Time Magazine reported that, by 2017, millennials will have more buying power than any other generation. In an effort to understand what most companies should be focusing on in order to win over millennial consumers, Time curated a list of the top 10 things millennials are definitely not spending their money on.
Not so surprisingly, most of this list consists of things that their parents wouldn't have even considered cutting out of their own budgets.
Nothing like a little millennial rebellion.
Check out the list below: