Another day, another headline about millennial spending. Sigh.
This time, a study by Barclays looked into generational spending habits found that millennials spend more than £3,300 each year on coffee, food, going out, and clothes.
Per the findings, emailed to Mashable, a survey of 20 to 37-year-olds found that the average bill for these items comes to £3,312.74. In a press release, Barclays said that millennials could save “a whopping £10.5 billion a year by making minor changes to their spending habits.”
A breakdown of the spending shows that millennials spend an average of £904.20 per annum on socialising, £738.96 on new clothing, £705.96 on eating out, £522.60 on takeout food, and £441 a on “daily treats (coffees etc)”. That means that millennial coffee expenditure on average amounts to about £36.75 a month, which won’t exactly break the bank (pun intended) in the grand scheme of things. Read more…
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