Wednesday, November 09, 2016

Gen Xers Spend the Most

Who are the biggest spenders—Millennials, Gen Xers, or Boomers? The answer: Gen Xers, of course, because they're in their peak earning years and have the highest incomes. In 2015, Gen X households spent $66,981, Boomer households $59,646, and Millennials $47,113, according to the Consumer Expenditure Survey. But Millennial and Boomer households spend more than Gen X households on a number of categories, including these...

Millennials spend more than Gen Xers on rent, household personal services (mostly day care), and clothes for children under age 2.

Boomers spend more than Gen Xers on property tax, other lodging (mostly hotels and motels), landline phone service, reading material, new cars and trucks, and pets.

Source: Bureau of Labor Statistics, CE Experimental Research Tables, Generational Tables

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