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.”
“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.