Sorry America, millennials don’t regret most of their purchases
Regrets? Most Americans have had more than just a few. Millennials? Not so much. As millennials scramble to get a foothold on the property ladder amid scathing reports of these young Americans splurging on avocado toast, they’re often given advice by Generation X and baby boomers about what they should and shouldn’t do. So what do they regret?
Half of millennials regret spending money on coffee shops and restaurants, while 62% regret fast food, the survey of 1,000 people aged 20 to 26 found, according to a new study by Durham, N.C.-based Common Cents Lab, a financial research lab at Duke University. Guilty pleasures seem to have more regret attached to them, said Dan Ariely, behavioral economist at Duke University.
All those small purchases can add up, however. Millennials spend more than an average of $2,300 more 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 found. “Often, it’s the minor, habitual expenses, such as take-out and alcohol, that wreak havoc on your budget,” Bankrate said.
Regrets? Most Americans have had more than just a few. Millennials? Not so much. As millennials scramble to get a foothold on the property ladder amid scathing reports of these young Americans splurging on avocado toast, they’re often given advice by Generation X and baby boomers about what they should and shouldn’t do. So what do they regret?
Half of millennials regret spending money on coffee shops and restaurants, while 62% regret fast food, the survey of 1,000 people aged 20 to 26 found, according to a new study by Durham, N.C.-based Common Cents Lab, a financial research lab at Duke University. Guilty pleasures seem to have more regret attached to them, said Dan Ariely, behavioral economist at Duke University.
All those small purchases can add up, however. Millennials spend more than an average of $2,300 more 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 found. “Often, it’s the minor, habitual expenses, such as take-out and alcohol, that wreak havoc on your budget,” Bankrate said.
