Spending Philosophy Differs Across Generations, But All Turn More Practical

A slight majority – 53% – of Millennials (born 1981-1995) say they have a “live for today” spending philosophy, a mindset which is not shared by older generations, according to a study [pdf] released by the NRF using Prosper Insights data and sponsored by KPMG. Indeed, just 38% of Gen Xers (born 1965-1980) concur with this sentiment, and even fewer Baby Boomers (born 1946-1964; 25%) and Silents (born mid-1920s to 1945; 23%) share it. Each generation is getting less impulsive with its spending, though. (more…)