Millennials Discovering Responsibility, Frugality, Sacrifice?

Posted On November 15, 2012

Millennials Discovering ResponsibilityMillennials have had the reputation as being impatient, entitled, and self-indulgent. But as they progress into adulthood, some studies are showing that they are becoming mature, responsible, and frugal, and given to self-sacrifice. Some highlights:

• They’re eating out less. Meals out among Millennials have declined by about 20% over the last 5 years. Now, in contrast to past trends, Gen Xers and Boomers eat out more.
• They’re living at home to save money – and they’re OK with that.  More than 20% of adult Millennials are living with Mom and Dad, and 70% of those say that’s fine with them.
• They believe homeownership is something they have to earn and aren’t entitled to. 71% say they will wait till they deserve it.
• They are taking the jobs that are offered. With unemployment high, they’re willing to settle.
• They give back. Last year, 63% volunteered, 75% donated, and 70% raised money for a cause.

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