Dive Brief:
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45% of Americans say they’re spending more than they were a year ago, and 18% are spending less, according to a new poll by Gallup.
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Bucking their reputation for being frugal shoppers, millennials were more likely than people in older generations to say they’re spending more on housing, leisure, and clothing.
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The poll found that people in this age group were “more freewheeling and impulsive in their shopping behavior.” 42% said that if they get money they spend it immediately and only 21% said they shop only for what they need.
Dive Insight:
While millennials have generally become known for their bad luck in coming of age in tough economic times, things may be looking up for them. That may change as more of them take on mortgages and have families, but perhaps millennials may finally be able to enjoy their youth in material ways.