The Spending and Investing Habits of Millennials

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Written by: Diamond Lim

Cashalo, Headquarters, in The Philippines, is in the news due to its position for helping with investing, securing loans, and more ~ all online via their app. Be sure to scroll down to see the insightful Infographic about the spending and investinghabits of Millennials.Society often judges what other generations see as “unconventional” when it comes to the spending and investing habits of Millennials. They spend too much money on coffee, buy clothes more frequently than necessary, and are obsessed with traveling the world.While there’s no one-size-fits-all approach to spending money, these described purchases aren’t really out of the ordinary. The unique lifestyle millennials are living through their adult lives is a uniquely different style than how baby boomers and Gen Xers experienced theirs.

Reality Check About Spending and Investing Habits of Millennials

The fact is millennials are as financially responsible as their big brothers and sisters. 54% of Gen Yers reportedly have a budget system, compared to 54% of Gen Xers and 57% of baby boomers. It may be time to re-think the spending and investment habits of the millennials.Living in the age of the Internet has also allowed millennials to experiment with different financial management strategies. For example, online lending in the Philippines is a rising trend of which the younger generation is taking advantage. They are also more comfortable with owning a digital wallet and learning more about Cryptocurrencies.Related: Are You as Future Ready as You Think?

Enjoy the Investment and Spending Habits of Millennials Infographic below:

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