Millions of millennials could soon enter a midlife crisis. But they're going to spend and divorce less — and value experiences more — than prior generations.
found"little evidence" that millennials have"significantly different tastes" than prior generations when it comes to spending on things like cars, food, and housing. The reason they spent less in some of these areas, the Fed concluded, was simply because millennials were"less well off than members of earlier generations."
That said, there's some evidence that millennials' spending habits are actually a bit different than those of Gen X and boomers.found that the average millennial started saving for retirement at age 24, while Gen X and boomers didn't begin till age 30 and 33 respectively. A 2014 Harris Group study found that since 1987, the share of US consumer spending on live experiences and events
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