ST. LOUIS (KMOX) – The Millennial generation is showing different spending habits compared to older Americans.
A Bankrate.com survey gives a glimpse at how this younger generation spends what it makes. Bankrate’s Robin Saks Frankel says Millennials spend just over $70 more on groceries and a little over $40 more a month on gas than older adults. Where do they spend less? It’s on travel.
“What was a little bit surprising is that millennials report spending about $1943 a year on trips and vacations but older Americans are shelling out significantly more, about $2265 a year,” she says.