A new survey from LendEDU found that 49% of millennials spend more money eating out than they do saving for retirement. Those 49% spend about $163 a month on going out to eat. 37% of survey respondents say they aren't saving for retirement at all. Those who are saving say they put away an average of $480 a month for retirement.
According to the survey, here are how Millennials are spending their money:
- $38 per month on coffee
- $75 per month on alcohol
- $39 per month on marijuana
- $163 per month on restaurants
- $281 per month on groceries
- $82 per month on clothes
- $49 per month on concerts, sporting events, and other events
- $43 per month on tobacco/vap/JUUL products
- $7 per month on music streaming services
- $18 per month on online streaming services
- $23 per month on exercise (WWLP)
Where is all your money going?