US Millennials and Money: What They've Got, Where It Goes, What Shapes Their Spending - eMarketer
« Return to Mobile Website

Newsletters Sign-Up

Schedule a Demo

Does My Company Subscribe?

US Millennials and Money: What They've Got, Where It Goes, What Shapes Their Spending

eMarketer Report

By: eMarketer

Published: November 08, 2017

Jump to: Executive Summary | Table of Contents | List of Charts

Executive Summary

More and more millennials are finally earning and spending serious money. But millennials’ finances often remain fragile, constraining their expenditures. When they make purchase decisions, marketing is just part of what influences where their money goes.

  • Millennial-headed households earned real money last year, averaging $65,373 (vs. $74,664 for total households)—though this leaves out the many millennials who have yet to establish households.
  • Many millennials struggle with debt, including on their credit cards. Student debt holds back some from buying homes, having kids and so on. Many scrape by from paycheck to paycheck. But a majority expect to be doing better financially in the future.
  • Older millennials are moving into a phase at which people become big-ticket consumers. Last year, millennial-headed households spent an average of $48,576 (vs. $57,311 for total households).
  • More than one-third are now homeowners, with the proportion higher among older millennials. Uber notwithstanding, most millennials have cars. They’re more likely than older consumers to buy groceries online, though a majority do not. They’re also more willing to pay a premium for organic goods—though again, a majority are not.
  • Many millennials are unwelcoming toward ads that come at them via social media and smartphone. Nor are they keen about ads in general. They overindex for ad blocking. Still, many concede that ads do affect their purchasing.
  • Bargain hunting is important for millennials, though not consistently more so than for older consumers. They do overindex for seeking deals digitally.

"As avid users of digital technology, US millennials naturally deploy their smartphones and other digital resources as they try to get the most for their money."

Table of Contents

A Bad Time to Succumb to ‘Millennial Fatigue’

This content is available to eMarketer PRO customers only. Request a live demo of PRO today to see what you can gain with access.

Request a demo today

Auditing Millennials’ Finances

This content is available to eMarketer PRO customers only. Request a live demo of PRO today to see what you can gain with access.

Request a demo today

Where Their Money Goes

This content is available to eMarketer PRO customers only. Request a live demo of PRO today to see what you can gain with access.

Request a demo today

What Influences Millennials’ Spending

This content is available to eMarketer PRO customers only. Request a live demo of PRO today to see what you can gain with access.

Request a demo today

27 charts are included in the full report:

US Millennials and Money: What They’ve Got, Where It Goes, What Shapes Their Spending

US Adults Who Use Their Mobile Device to Search for Local Deals While Shopping, by Demographic, May 2017 (% of adults in each group)

Auditing Millennials’ Finances

Average Annual Income and Size of US Households, by Generation, 2016

The IOU Generation

Financial/Life Milestones that US Millennial Internet Users Have Delayed due to Student Loan Debt, March 2017 (% of respondents)

Behaviors Related to Their Credit Card Finances Among US Millennial Credit Card Users, June 2017 (% of respondents)

Attitudes Toward Their Finances According to US Millennial Internet Users, March 2017 (% of respondents)

US Millennials' Personal Financial Situation, by Race/Ethnicity, May 2017 (% of respondents in each group)

Feeling Uneasy? Yes. Feeling Doomed? No.

Attitudes Toward Their Personal Finances According to US Millennial Internet Users, by Gender, June 2017 (% of respondents in each group)

Level of Confidence that US Millennials vs. Total Adults Have in Their Financial Prospects, July 2017 (% of respondents)

Where Their Money Goes

Select Annual Expenditures of US Millennial vs. Total Households, 2016

Home, Sweet Home (and Car, Sweet Car)

US Home Ownership Rates, by Age, Q2 2017 (% of population in each group)

US Vehicle Buyer Share, by Generation, 2011 & Q1 2017 (% of respondents)

Millennials as Food Shoppers

US Households that Purchase Groceries Digitally* vs. In-Store, by Demographic, July 2017 (% of respondents in each group)

US Internet Users Who Have Tried a Meal Kit Delivery Service, by Demographic, July 2017 (% of respondents in each group)

US Adults Who Are Trying to Lose Weight by Dieting, by Demographic, May 2017 (% of adults in each group)

US Internet Users Who Are Willing to Pay More for Healthy/Organic Food Products, by Demographic, March 2017 (% of respondents in each group)

What Influences Millennials’ Spending

Devices on Which US Internet Users Are Most Likely to Notice/Act on Digital Ads, by Generation, 2017 (% of respondents in each group)

US Internet Users Who Have Ever Decreased* Social Media Use due to Advertising Disruption, by Age, March 2017 (% of respondents in each group)

US Adults' Attitudes Toward Ads, by Demographic, May 2017 (% of adults in each group)

US Internet Users Who Have Clicked on a Facebook Ad in the Past 30 Days, by Age, March 2017 (% of respondents)

Channels/Locations Where US Internet Users Have Seen or Heard an Ad that Led Them to Take Action, by Demographic, March 2017 (% of respondents in each group)

US Internet Users Who Rely on Online Customer Ratings to Make Decisions, by Demographic, Q2 2017 (% of respondents in each group)

Millennials and Cheapskating

Leading Reasons that US Internet Users Sign Up for Marketing Emails, by Age, Jan 2017 (% of respondents in each group)

Actions that US Millennial vs. Total Internet Users Take to Save Money When Shopping, Q1 2017 (% of respondents in each group)

US Adults Who Use Their Mobile Device to Search for Local Deals While Shopping, by Demographic, May 2017 (% of adults in each group)

Putting a Price on Millennials’ Values

Environmental/Social Business Practices About Which US Millennial Internet Users Care Most, June 2017 (% of respondents)

Ways in Which US Internet Users Would Change Their Purchasing Behavior to Support Causes, by Generation, Feb 2017 (% of respondents in each group)

US Millennial Uber Users Who Will Stop Using Uber, by Gender, March 2017 (% of total)