A study has revealed millennials are much thriftier than often portrayed, dispelling myths they splash their cash on posh coffee and lavish lunches.
The research, conducted by OnePoll on behalf of car manufacturer Dacia, discovered 18 to 34 year olds in Britain spend £5.56 per week on coffee, 14 per cent less than the £6.43 spent by 35 to 44 year-olds.
The older age group spend around £140 more per year on lunch, takeaways, hot and cold drinks than the younger generation.
In fact, more than half of the 18 to 34 year olds surveyed said they ‘always’ or ‘often’ take a packed
lunch to work.
The study also discovered 34 per cent of Brits thought they would never buy a new car, with seven per cent admitting they would rather spend £3 a day on coffee.
Dacia is selling the award-winning Sandero supermini for £79 per month on a personal contract hire (PCH) package, which equates to around £2.60 a day.
Ben Fletcher, Head of Dacia UK, said:
The findings have shown the younger generation aren’t the frivolous consumers who waste their hard-earned money like some would think.
Britain is a nation of financially savvy shoppers who want quality as well as value for money, whether they’re buying a car or a coffee.
The Sandero is Europe’s best-selling retail car, winning the title of ‘Best Small Car under £12,000’ by What Car? for the past seven consecutive years.
Although millennials are thriftier than the 35 to 44 year old generation, the over 55s are the most sensible with money.
Out of those surveyed, one in 10 admitted they have purchased a book in the past year but not read it.
The same figure splashed out on clothes which they still haven’t worn.
According to the research, the average Brit spends per week £5 on coffee, £4.28 on soft drinks, £7.83 on takeaways and £8.29 on lunch, totaling £25.40.
For 18 to 34 year olds, this is £5.56 on coffee, £5.74 on soft drinks, £9 on takeaways and £9.09 on lunch, so £29.39 per week.
Finally for 35 to 44 year olds, this is £6.43 on coffee, £6.02 on soft drinks, £9.89 on takeaways and £9.71 on lunch, totally £32.05.
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Emily Murray is a journalist at UNILAD. She graduated from the University of Leeds with a BA in English Literature and History before studying for a Masters in Journalism at the University of Salford. Emily has previously worked for the BBC, ITV and Trinity Mirror. When Emily isn’t writing about topics including mental health and entertainment, you can find her at the cinema which is her second home.