Millennial Spending Habits Differ From Older Generations, Study Shows

Millennials are spending their money differently than older generations on things like groceries, gas, restaurants and travel, according to a new Bankrate.com report. Millennials (ages 18-36), on average, report spending significantly more than their elders in four of the six categories examined in the survey.
The youngest adult generation reports spending an average of $797 per month on groceries, compared to $724 for those 37 and older. Millennials spend $254 per month on gasoline, versus the $211 per month spent by those older than them. Millennials are also spending generously on extras like restaurant orders and cell phone bills. They indicate average monthly spending of $233 on both dine-in and take out meals, against $182 for older generations. They also top their elders’ monthly cell phone charges $161 to $135.
Two areas that millennials are cutting back spending: television and travel.