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What millenials spend most of their money for

What millenials spend most of their money for

Us, millennials (welcome to the team, if you are born between 1980 and 2000), are very different from previous generations in a way we manage and deal with our finances. Some people claim we have a really tough relationship with money – but in reality, we simply have different priorities. So what do we spend our money on?


Takeaway coffee is a symbol of our generation. We drink far more takeaway coffee than previous generations and pay far more money for it. What is more, a hipster coffee shop perfectly satisfies our socialization needs and can be a great workplace for a day.


We value experiences over possessions, therefore, we want to constantly discover new places to eat, have high interest in trendy extravagant foods, drinks and just love takeaway. Eating out is extremely important for millennials – it’s a great way of socializing and enjoying life.

Before you start critiquing our choices, let me tell you that we also prefer ethically-produced, natural, organic food. Maybe we spend more than previous generations on food, but we also eat much better.


Even though the majority of us is just starting out in our career, we have a traveler’s mindset. It pushes us to explore different destinations which might have been unreachable to our parents or grandparents. And we find our ways to do that. Cheap flights and endless information on the Internet have enabled us to discover anything we want. Even though we have limited finances, traveling is often the biggest motivation to work, which leads to faster career lifts and salary increases.


We think, feel and act socially. Therefore, spending quality time with our friends and family is one of our biggest priorities.


Owning a gym membership is not enough. We want to look good and value socialization, therefore, we spend numerous hours in trendy training classes.


We are so used to having everything at our fingertips, that we see no point in going to a physical store and browsing through hundreds of boring items. We prefer to do it the easy way – online.


We do not dream about owning a house, as our parents and grandparents did. We choose to live in trendy neighborhoods, even if the rent price is enormous.


Contrary to previous generations, we don’t want to commit to buying a car – we prefer ridesharing or public transportation instead. We take the full advantage of ridesharing apps like Uber.

Millennials might be an interesting demographic to explore – we don’t dream about buying cars and houses, or saving enough for  retirement, like previous generations did. On the contrary, all our financial motivation comes from our thirst for experiences. Technology has made undeniable influence on our lives, therefore, the patterns of our spending and saving have changed as well.

We also pay more often with our cards and use less cash money than the generations before us. With all these new opportunities we can easily lose control over our spending behaviour. Therefore I’m a fan of apps like Zuper. Because those give you a great overview, about how much money you have spend on flat whites, flights, or online shopping this month.

Paul Niklaus
Paul is a marketing manager at @ZuperBank. He's in love with marketing, standup comedy, and storytelling. In our blog, he shows you how to do the most with your money!
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