Survey says millennials spend more money on coffee than retirement savings

Manila, Philippines  – Beside the evident boost that caffeine gives, the appeal of drinking a cup of coffee has somehow become a part of everyday life—or in some cases a habit—of today’s growing number of millennials.
woman-drinking-coffee-on-the-go

The most popular of these caffeine-actuated drinks usually come from upscale coffee chains, which obviously, are generally served at a more high cost than regular.

Because of these circumstances, a current survey was conducted and it has discovered a connection between the millennials’ extensive coffee consumption and their infamous bad money-saving habits.

Based on the survey done by online analytics company SurveyMonkey, half of today’s people aged between 18 to 34 have spent a greater amount of their hard-earned cash on coffee than on any type of retirement investing.

Done under the direction of investing app Acorns, the survey “Money Matters” observed the spending habits of 1,900 millennials and classified the outcomes based on differing factors, including gender.

As it turns out, young ladies ended up being the more pointless group with regards to satisfying their caffeine desires.

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“A staggering 44 percent of female millennials aged 18-35 spent more on their morning fix than they did putting money aside this year,” Acorns revealed, as relayed by food review website, Munchies.

“What’s more is that this number is almost 10 percent higher than the number of millennial males with the same habit in the same time frame. This evens out to about 41 percent of all users surveyed.”

To tie up their findings, the research also gathered information in regards to the millennials’ perceived age of retirement and at what point they believe would be sufficiently enough financially to retire.

More than 41 percent of older millennials, aged 24 to 35, anticipated that they won’t be ““financially secure enough to retire until they are older than 65,” hence proving their perceived unconcerned approach towards saving money for the future.

Source: http://lifestyle.inquirer.net/251117/millennials-spend-more-money-on-coffee-than-for-retirement-savings-survey/