Millennials spend less than £6 a week on ‘posh coffees’

Millennials spend less than £6 a week on ‘posh coffees’

Millennials were found to spend less than those aged 35 to 44.

Thursday, April 18, 2019

A study has suggested that it is a myth that millennials are spending their limited finances on “posh coffees”.

Researchers have suggested that 35-45-year-olds spend more money on coffees out than their millennial counterparts.

Those aged 18-34-year-olds spent an average of £5.56 per week on coffee.

This is 14 per cent less than the £6.43 spent by 35-44 year-olds.

When it comes to hot and cold drinks, lunches and takeaways, the 35-44 age group will spend around £140 per year more than their younger peers.

More than half of the younger group said they "always" or "often" taking a packed lunch to work.

The study was commissioned by Dacia, which is now selling its award-winning Sandero supermini for £79 per month - the equivalent of around £2.60 per day.

Dacia found just 3.7 per cent of Britons thought they could have a new car for between £2 and £3 per day, with the average adult thinking a new motor would cost almost four times (£10.89) as much.

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 research by OnePoll found 34 per cent of Brits thought they would never buy a new car - with seven per cent thinking coffee was a better way of spending £3 per day than a new car.

Over 55s were found to be the most sensible with their money.

They spent 35 per cent less than millennials and 40 per cent less than the 35-44 age group.

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