An official website of the United States government
Spending patterns of Millenials and earlier generations in 2016
August 01, 2018
Spending patterns may vary from generation to generation due to demographics and lifecycle changes such as income, homeownership, and tastes or preferences. In 2016, the share of total household spending on cellular phone service ranged from 0.6 percent for households in which the reference person was from the Greatest generation (born 1927 or earlier) to 2.3 percent for Millenials (born 1981 to present).
Category | All households |
Greatest (Born 1927 or earlier) |
Silent (1928–1945) |
Baby Boomers (1946–1964) |
Generation X (1965–1980) |
Millenials (1981–present) |
---|---|---|---|---|---|---|
Food |
12.6% | 8.8% | 13.2% | 12.0% | 12.9% | 13.0% |
Food at home |
7.1 | 5.7 | 8.3 | 6.9 | 7.0 | 6.9 |
Food away from home |
5.5 | 3.1 | 4.9 | 5.1 | 5.9 | 6.1 |
Housing |
33.0 | 50.5 | 34.5 | 30.9 | 33.1 | 34.9 |
Owned dwellings |
11.0 | 8.9 | 11.9 | 11.8 | 11.9 | 7.5 |
Rented dwellings |
7.0 | 23.4 | 5.4 | 3.9 | 6.6 | 13.6 |
Telephone services |
2.5 | 2.0 | 2.5 | 2.5 | 2.5 | 2.5 |
Residential phone services, VOIP, and phone cards |
0.5 | 1.4 | 1.2 | 0.6 | 0.4 | 0.2 |
Cellular phone service |
2.0 | 0.6 | 1.3 | 1.9 | 2.1 | 2.3 |
Apparel and services |
3.1 | 1.7 | 2.2 | 2.6 | 3.8 | 3.6 |
Transportation |
15.8 | 8.9 | 14.3 | 15.9 | 15.4 | 17.3 |
New cars and trucks |
2.9 | 3.2 | 3.6 | 3.1 | 2.3 | 3.0 |
Used cars and trucks |
3.3 | 0.3 | 1.7 | 3.1 | 3.5 | 4.6 |
Healthcare |
8.0 | 14.9 | 14.8 | 9.0 | 6.6 | 5.1 |
Health insurance |
5.5 | 9.8 | 10.3 | 6.1 | 4.5 | 3.5 |
Medical services |
1.5 | 2.3 | 2.3 | 1.6 | 1.3 | 1.1 |
Drugs |
0.8 | 2.1 | 1.8 | 1.0 | 0.6 | 0.3 |
Medical supplies |
0.3 | 0.7 | 0.5 | 0.3 | 0.2 | 0.2 |
Households in which the reference person was from the Silent generation (born 1928 to 1945) spent 10.3 percent of their total household budget on health insurance in 2016, followed by 9.8 percent for those from the Greatest generation. Those from the Baby Boomer generation (born 1946 to 1964) spent 6.1 percent of total spending, followed by 4.5 percent for Generation X (born 1965 to 1980), and 3.5 percent for Millenials (born 1981 to present).
In 2016, the share of total spending on food away from home increased with younger generations, ranging from 3.1 percent for households in which the reference person was from the Greatest generation to 6.1 percent for Millenials. Those from the Silent generation spent the highest share on food at home (8.3 percent), followed by households with Baby Boomers, Gen Xers, and Millenials (7.0 percent each).
These data come from the Consumer Expenditure Surveys. A reference person is the first person mentioned when the respondent to the survey is asked who is responsible for owning or renting the respondent’s home. Households, or consumer units, include families, single persons living alone or sharing a household with others but who are financially independent, or two or more persons living together who share expenses. To learn more, see Fun facts about Millennials: comparing expenditure patterns from the latest through the Greatest generation, in the Monthly Labor Review, March 2018.
SUGGESTED CITATION
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Spending patterns of Millenials and earlier generations in 2016 on the Internet at https://www.bls.gov/opub/ted/2018/spending-patterns-of-millenials-and-earlier-generations-in-2016.htm (visited December 03, 2024).
- Fatal Injuries to Foreign-Born Hispanic or Latino Workers
Explores the industries, occupations, and events related to these fatalities. - For-Profit, Nonprofit, and Government Sector Jobs in 2022
Compares the labor force characteristics and experiences of workers in the for-profit, nonprofit, government, and self-employed sectors. - Union Membership, Activity, and Compensation in 2022
Focuses on trends in union membership, work stoppages, and pay and benefits among union members. - A Look at a Neat Industry: Distilleries
Examines trends in employment, establishments, wages, and consumer prices for distilleries. - Healthcare Occupations: Characteristics of the Employed
Compares the demographic characteristics of workers in healthcare occupations.