/biz/ - Business & Finance

>The Deloitte study found that the generation is paying more for education, food, transportation and other basic needs, while their incomes have stayed steady.

>The group's average net worth is now below $8,000, putting today's millennials in a worse financial position than previous generations.

>Deloitte researchers told The Washington Post that the study's findings “debunk many conventional wisdoms about the new-age consumer.”

>“The narrative out there is that millennials are ruining everything, from breakfast cereal to weddings, but what matters to consumers today isn’t much different than it was 50 years ago,” chief retail officer Kasey Lobaugh told the Post. “Generally speaking, there have not been dramatic changes in how consumers spend their money.”

>According to the Post, education costs have risen 65 percent in the past decade, more than any other category.

>The study found that many Americans age 18-35 often put off making larger purchases such as homes or automobiles because of immense financial pressure and a lack of available income. A study in 2017 revealed that about one-third of this age group still lives with their parents, another sign of potential financial woes among younger Americans, and are putting off marriage until they are older.

https://thehill.com/policy/finance/446372-net-worth-of-americans-aged-18-to-35-has-dropped-34-percent-since-1996-study