Another day,Dear Utol (2025): Totoy Bayo Episode 38 another headline about millennial spending. Sigh.
This time, a study by Barclays looked into generational spending habits found that millennials spend more than £3,300 each year on coffee, food, going out, and clothes.
SEE ALSO: I'm a millennial and, believe me, coffee is not the reason I'm brokePer the findings, emailed to Mashable, a survey of 20 to 37-year-olds found that the average bill for these items comes to £3,312.74. In a press release, Barclays said that millennials could save "a whopping £10.5 billion a year by making minor changes to their spending habits."
A breakdown of the spending shows that millennials spend an average of £904.20 per annum on socialising, £738.96 on new clothing, £705.96 on eating out, £522.60 on takeout food, and £441 a on "daily treats (coffees etc)". That means that millennial coffee expenditure on average amounts to about £36.75 a month, which won't exactly break the bank (pun intended) in the grand scheme of things.
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Manchester Evening News reported the findings, and its tweet promptly began gaining some attention on Twitter.
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Many are of the (rightful) opinion that £3K a year is a reasonable amount of money to spend on food, drink, clothing, and spending time with fellow humans.
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By this point we're pretty well-versed in responding to millennial-shaming stories, so naturally the jokes started pouring in.
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The author of the Manchester Evening News story tweeted that it wasn't his idea to report on the findings and that he considers it "a non-story made to make young people look like we squander our money when the reality is we can't afford a house."
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Coffee anyone?
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