The Truth About Millennial Money Habits: Is Coffee Really Making Them Poor?

Let’s be honest, millennials get a bad rap, especially when it comes to their spending habits. Many financial gurus point to coffee spending as one of the major reasons that people have not reached financial success.

Guess which generation’s at the forefront of the coffee overspending allegations…

Of course, choosing to spend coffee at home is much cheaper than purchasing coffee every day, but it surely won’t contribute to being rich. Given the shelter in place last year, many turned to social media to disprove this theory since they had no choice but to brew at home.

So why do they continue to point to coffee as the reason many of us have not reached financial freedom?

Coffee can represent a splurge or an impulse spending that we are all guilty of making. It can really show us why we choose to spend our money so that we may examine our habits.

This does not mean we should give up on our $4 coffees, rather we should determine if we’re spending out of habit, impulse, or boredom.

Budget Responsibly

Living in this digital age, we have access to a variety of budgeting apps that can help us track our spending for us.