Ever seen a headline that claims “Millennials are killing ___”?
This generation has been placed at the apex of industry death — but with their crushing student debt, environmental anxiety and passion for ethical consumption, what can you expect?
Yes, their spending habits reflect a stark difference to those of older generations, like Gen X and boomers. But contrary to popular belief, millennials’ financial choices extend beyond cravings for avocado toast and targeted Instagram ads.
One major issue is that millennials are overall less financially well off than older generations, says a study published by the Federal Reserve Board in 2018. Further, an Experian consumer debt study states that millennials owed an average of $38,877 in student loans as of 2021.
Naturally, these burdens coupled with the current economic and social climate hinder millennials