Where Is All Our Money Going?

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?



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