Millennials receive a lot of blame these days for killing everything from marriage to golf, but you can take restaurants, coffeehouses and bars off the list.
A new Bankrate.com survey reports the average millennial eats out five times a week, in between Starbucks runs and pub-crawls. The site says its data shows 29 percent of younger millennials, roughly ages 18 to 26, buy brewed coffee at least three times a week, and 51 percent go to a bar at least once a week. Well, at least those over 21 do.
In contrast, 59 percent of all Americans say they don’t purchase any brewed coffee or tea in a typical week, and 40 percent say they buy take-out or dine at a restaurant no more than once per week.
“Bottom line: We’re spending a lot of cash on vices,” writes Sarah Berger, who runs Bankrate’s millennial blog, “The Cashlorette.”
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“Eating out is more than just food. It's about the experience,” Sabatier tells the paper. “It's worth it to pay a little bit extra to go to a restaurant with a super cool roof deck or an outdoor patio.”
But he warns, as does Berger, that millennials should focus more on savings over vices.
“Sure, a night out at the bar is fun (until the hangover hits), but is it really worth sacrificing the significant moolah it could be acquiring in an interest-earning account? No,” Berger writes.