How Do Millennials Spend Their Money?
Social media often depicts millennials as spending much of their money on avocado toast and tiny houses. But a recent study from NerdWallet found that young adults’ spending habits aren't that much different from other generations.
Millennials spent an average of $48,576 in 2016, about 74 percent of their income. Generation X spent 72 percent of their income, while Baby Boomers spent 77 percent of their income.
