Millennials are often maligned for their lack of financial literacy, but there is one money skill the younger generation has in spades: saving. After growing up during the Great Recession, millennials want to keep every cent they can. This generation may be way ahead of where their parents were at the same age when it comes to preparing for retirement, but the frugality doesn’t end there. Kids these days also aren’t making the same buying decisions our parents made. Here are 10 do You Have To Spend Money To Make Money that a disproportionate number of today’s young adults won’t shell out for. Many young people aren’t getting a TV at all. Millennials aren’t the only ones tuning out the tube.
In 2013, Nielsen reported aggregate TV watching time shrank for the first time in four years. By all accounts, young people should be investing in equities. Unfortunately, after growing up in the Great Recession, millennials would rather put their money in a sock drawer than on Wall Street. Too be fair, an equal number admitted to having no clue what they were invested in, so hopefully their trust fund advisors are making good decisions. When parents want a drink, they reach for the classics. Maybe a Heineken for a little extra adventure. Read next: 5 Great Things That Beer Has Done for the U.
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The sad fact is that American car culture is dying a slow death. It’s not that millennials don’t want to own homes—nine in ten young people do—it’s that they can’t afford them. It’s going to be a while before young people start purchasing homes again. The economic downturn set this generation’s finances back years, and reforms like the Dodd-Frank Act have made it even more difficult for the newly employed to get credit.
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Now that unemployment is decreasing, working millennials are still renting before they buy. This one initially sounds weird, but remember: millennials don’t own cars or homes. So a Costco membership doesn’t make much sense. It’s not easy to bring home a year’s supply of Nesquik and paper towels without a ride, and even if you take a bus, there’s no room to stash hoards of kitchen supplies in a studio apartment. Responding to tepid millennial demand, the big box giant is trying to win over youngsters by partnering with Google to deliver certain items right to your home.