Mahita Gajanan discusses the stories of 6 different millennials and their spending habits in the modern age. Ranging from unemployed to salaries of 130,000, the one thing they have in common is that they’re smart about what they spend on. Like anyone else, some are willing to splurge on basic activities and entertainment, but many have the looming threat of student loans over their head each month.

The article begins as follows:

The millennial lifestyle – cord-cutting, wasteful, feckless and more concerned with ordering an Uber than the death of the auto industry – has been the subject of much criticism.

While there is no question that millennial habits are reshaping the global economy, it is also shaping them: finding a job after college is not guaranteed and many struggle to repay student loans.

We wanted to get a closer look at the lifestyles of millennials around North America and find out if they are really as financially flippant as they have been made out. Are they concerned about saving or buying a house? Or would they rather just order Seamless and binge on Netflix? Here, six people from around the US and Canada tell us how they make ends meet.

Check out their stories here: Pets, debts and e-cigarettes: how millennials spend their paychecks – The Guardian

Posted by Pooja Shivaprasad, Associate Editor, Wealth Strategies Journal