It's no secret that millennials are in debt. Massive debt. The average American aged 25 to 36 years old is in debt to the tune of about $42,000, and most of it isn't even from student loans — it's from credit card spending.
Yet statistics show that millennials are still spending money on the things that experts say would constitute huge savings if they were avoided — things that Shark Tank personality and O'Shares ETFs chairman Kevin O'Leary says are utterly, totally stupid."$4 coffee. Incredibly stupid," O'Leary told CNBC while at the World Government Summit in Dubai this week.
And if you want the works, with more expensive types of milk, flavoring or seasonal specials, it can set you back more than $5. Starbucks in Europe, the Middle East and South Asia cost far more, often averaging $6-8 a cup or more."You don't need more than four pairs of shoes. You need flip flops, something to work out in, and two pairs of dress shoes — everything else, you're an idiot if you're buying more shoes.
Today, a pair of jeans comes in at about $60 on average,"which means Americans spend about $38.5 million on denim pants every day, or $14 billion annually," according to personal finance website howstuffworks.com.
MakeIt You spend 5000 a year on haircuts? Nuff said
MakeIt How much does baldy spend on haircuts?
MakeIt I need some new headlines on my feed
MakeIt How about spending $100k for college
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MakeIt I agree with him completely. I’m stunned at how addictive people are to Starbucks. I myself am addictive to Chipotle. If it was up to general millennial addiction, one should own stocks like Amazon, Netflix, Apple, Chipotle, Starbucks, etc.
MakeIt But $3k a year in hair cuts is ok
MakeIt I'd like to buy this guy for what he's worth... and sell him for he thinks he's worth.
MakeIt I BUY MY CLOTHES ON SALE IF I NEED THEM I DONT DRINK COFFEE I AM PROBABLY THE SMARTEST SHOPPER IN THE WORLD. I HAVE BEEN DOING IT SINCE I WAS 12 YEARS OLD TRY ME. I DONT WEAR SECOND HAND. MAYBE SOMEONE DIED IN THEM I PAID $20 FOR A NEW ITALIAN SUIT. HOW MANY DID I BUY?
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MakeIt You have to be kidding me...he should waste some cash on a toupee...
MakeIt the bill wouldn't say slo, if sit ain't the need, vz SinOpLsys?! The cit cyst vz insyst?corrsLocci
MakeIt They just want to enjoy life a bit and avoid being strickly stupid like Kevin. Everyone does not fit into the same stupid mold. Live and let live.
MakeIt Never mind an entire criminal banking industry getting bailed out by a corrupt gov’t. Let’s pick on what millennials destroyed by this system do. This guy can fuck himself for all millennials should care about any advice he has.
MakeIt $3,000 jackets
$4 coffee and 2 other 'stupid' things millennials waste candy on, according to Kevin O'Leary. via MakeIt
MakeIt Starbucks coffee is garbage. Starbucks
MakeIt What about frequent expensive haircuts?
MakeIt You spend 50K to 100K on your ***** watch.
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MakeIt Drink cumberlandfarms coffee !!
MakeIt ¿Y el tabaco? Lleva toda la vida y vale casi 6€ el paquete.
MakeIt “And next up on CNBC, a dinosaur round table about why the proposed plan to divert an incoming comet is a Marxist conspiracy that will cost a kajillion bazillion dollars.”
MakeIt Haircuts
MakeIt How much has Kevin pissed away on bottles of wine?