What Do Millennials Spend Money On?

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The world has changed so much, and each generation seems to become more and more unrecognizable than the last. There is perhaps no generation that has been as maligned in recent times as millennials have. Some of the criticism is justified, and some is a little harsh, but nevertheless, everyone seems to have their own preconception of millennials these days.

Now, one of the big things a lot of people wonder is what millennials spend their money on. The Instagram generation seem to place a lot of worth in materialistic things and don’t actually value the things that matter as much. Studies actually show that millennials pay more for fitness than they do for education – let’s look a little closer at these findings.

Fitness expenses

A recent study conducted in the UK gave us serious food for thought. It indicated that, on average, British millennials will spend almost $160,000 in their lifetime on fitness and well-being, while four-year public education comes in a just under $140,000. This means they spend more on their appearances and fitness than they do on education. This figure is thought to include money for gym memberships, supplements, workout clothing, and nutrition plans. Fitness is important, don’t get us wrong, but education is paramount.

More of them pay for gym memberships

It is estimated that over 36% of millennials have gym memberships, which works out as double the older generation. This shows how the priorities have shifted over the years, and illustrates how much millennials value fitness and exercise. This has both positive and negative connotation, especially when you consider how much inflation has gone up these days. But, it seems that fitness is something millennials feel is worth their time investing in.

Smartphone influence

It’s clear that there is a correlation between the upturn in fitness and lifestyle investment and the evolution of the cell phone. These days our smartphones help us to run our lives, and they allow us to track and monitor our health. Not only that, but they make it much easier to focus on fitness and well-being by way of apps. This has surely contributed to the amount of money millennials are opting to spend on fitness.

Promoting health is important

Don’t get us wrong, there are a lot of different things that are important in life, and health & fitness is certainly one of them. You have to do your best to make sure you look after your health, and that you do what you can to enhance body and mind. This is really important, and we can understand in this respect why millennials choose to spend more on fitness.

It seems like a shocking fact when you read it, and perhaps it is for older generations. But, with such emphasis on self-image these days, it’s no surprise that millennials are spending more money than ever on their looks and their fitness. Let’s just hope that we don’t have a future filled with good-looking people who don’t know how to do anything! What a sad day that will be!

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