{"id":3278,"date":"2016-06-21T18:22:57","date_gmt":"2016-06-21T18:22:57","guid":{"rendered":"https:\/\/genhq.com\/?p=3278"},"modified":"2022-08-27T10:36:00","modified_gmt":"2022-08-27T10:36:00","slug":"kicking-fomo-to-the-curb-millennials-buck-stereotypes-about-spending","status":"publish","type":"post","link":"https:\/\/genhq.com\/kicking-fomo-to-the-curb-millennials-buck-stereotypes-about-spending\/","title":{"rendered":"Millennials Challenge Stereotypes About Spending"},"content":{"rendered":"<p>While it may be true that Millennials don&#8217;t have the greatest financial track record (not saving for retirement, drowning in a sea of student debt, etc.), a recent survey revealed that they may have better spending habits than expected.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-3282 size-full\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2016\/06\/06-21-16.jpg\" alt=\"fomo\" width=\"1024\" height=\"512\" srcset=\"https:\/\/genhq.com\/wp-content\/uploads\/2016\/06\/06-21-16.jpg 1024w, https:\/\/genhq.com\/wp-content\/uploads\/2016\/06\/06-21-16-300x150.jpg 300w, https:\/\/genhq.com\/wp-content\/uploads\/2016\/06\/06-21-16-768x384.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>According to a <a href=\"https:\/\/www.gobankingrates.com\/personal-finance\/millennials-afraid-financial-strain-fomo-survey-finds\/\" target=\"_blank\" rel=\"noopener\">survey conducted by GOBankingRates<\/a>, a significant percentage of Millennials will not risk putting themselves in financial strain just to attend a social event with their friends, and a full 30% have NEVER gone out and spent money with friends if they couldn&#8217;t afford it.<\/p>\n<p>&#8220;This does not surprise me because <a href=\"\/Millennials-Gen-Y-Generation-Y-info\/\" rel=\"noopener\">Millennials<\/a> are becoming more practical as they get older, take on more responsibility and have more experience,\u201d\u00a0<a href=\"https:\/\/jasondorsey.com\/\" target=\"_blank\" rel=\"noopener\">Jason Dorsey<\/a>\u00a0told GOBankingRates.\u00a0\u201cWhile the media may not like this answer because it\u2019s not sensational, I find it a great insight into millennials moving in a direction of overcoming the stereotypes so often forced upon them.\u201d<\/p>\n<p>According to Dorsey, this is a reflection of Millennials\u2019 combination of economic reality and practicality, in addition to their willingness to seek out free events.<\/p>\n<p>Unfortunately, there are still some Millennials who do succumb to FOMO (&#8220;fear of missing out&#8221;) and turn to credit cards to expand their financial reach. According to the survey, 32% of millennials used their credit card to pay for a social event they couldn&#8217;t afford. And while credit cards and maintaining a small amount of debt can be useful financial tools, too many people \u00a0rely on their credit cards far too often without having the money to back their purchases.<\/p>\n<p><em><strong>Have you ever spent more money than you were comfortable with in order to attend a social event? Join the conversation on Twitter with\u00a0<a href=\"https:\/\/twitter.com\/whatthegen\" target=\"_blank\" rel=\"noopener\">@WhatTheGen<\/a> or <a href=\"https:\/\/twitter.com\/jasondorsey\" target=\"_blank\" rel=\"noopener\">@JasonDorsey<\/a>. And don\u2019t forget to include your #generation!<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While it may be true that Millennials don&#8217;t have the greatest financial track record (not saving for retirement, drowning in a sea of student debt, etc.), a recent survey revealed that they may have better spending habits than expected. According to a survey conducted by GOBankingRates, a significant percentage of Millennials will not risk putting [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":3282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12,13,22],"tags":[],"class_list":["post-3278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-generations","category-millennials-aka-gen-y","category-research-findings"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Millennials Challenge Stereotypes About Spending - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"While it may be true that Millennials don\u2019t have the greatest financial track record (not saving for retirement, drowning in a sea of student debt, etc.)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genhq.com\/kicking-fomo-to-the-curb-millennials-buck-stereotypes-about-spending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Millennials Challenge Stereotypes About Spending - 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