ROBB JEFFRIES: Overspending is in
It seems like my generation has let me down again.
I’m not sure if I’m just maturing faster than my peers or if I am just a curmudgeon, but there are a lot of things that young people love that I just can’t get behind.
Ugg boots? Seriously, people?
But now, millennials have gone too far.
A recent Goldman Sachs report shows people 34 and younger are forsaking traditional fast food powerhouses like McDonald’s for newer chains like Chipotle and Chick-Fil-A.
In fact, the classic burger-and-fries joints are losing ground across the board, as my generation is more likely than others to choose restaurants that specialize in pizza or coffee.
I am shocked that people my age — who are notorious for being sandbagged by record amounts of debt, by the way — are shying away from the tried-and-true dollar menus across the country in favor of $5 lattes and $8 burritos.
And this isn’t a trend confined to food.
Forbes magazine recently outlined several things recent college graduates are wasting their money on.
Turns out, young people fresh out of school are overspending on what the generations before us would call “the essentials.” According to Forbes, instead of going to garage sales and flea markets to furnish their modest, income-appropriate homes, millennials are spending an irresponsible amount of money on new designer furniture to put in their high-end lofts and condos.
Instead of hitting the clearance rack at department stores, they’re ordering tailored clothes or having a fashion professional stock their wardrobe.
Instead of taking a deep breath and hopping on the bus or subway, they’re ordering personal drivers or taking out loans to buy their own cars.
I’m not suggesting millennials need to revert back to their freshman-year selves because nobody wants to live a life of eating a cup of noodles while sitting on a broken couch in their sweatpants.
One night, sure. But not more than a week or so.
But as long as I have several thousand reasons in the form of student loans to save money, I’ll be hitting the dollar menu instead of sipping a caramel macchiato.