Millennials are treating themselves to experiences — but it doesn't mean they're bad with money

pulse

October 31, 2018 3:02 PM

Millennials often "treat" themselves, according to a Fidelity Investments report, but it doesn't mean millennials are bad with money.

millennials
Fidelity Investments' 2018 Millennial Money Study.
millennials
millennials
Millennials

Millennials' money habits may not be as bad as their reputation suggests.

Known as the generation to "live in the now" and "live their best life," many millennials have a "treat yourself" mentality, according to Fidelity Investments' 2018 Millennial Money Study. In the survey, millennials were asked how often they "treat" themselves (defined as a purchase made to bring joy) — 86% said they treat themselves at least once a month, setting them back $110 a month on average.

But a "treat yourself" moment doesn't always equate to spending money recklessly.

"There are a lot of assumptions that millennials only live in the moment, but our research debunks that — they are balancing their current health and happiness with their financial futures," Brooke Forbes, senior vice president of digital planning and advice at Fidelity, said in the news release.

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