A beautiful thing about the world we live in is that it is constantly evolving. Year after year, and generation after generation, new laws are implemented, new inventions become vital aspects of our lives, while many old inventions and trends become obsolete. Something that is inevitable to change generation after generation is the amount of money people make, spend, and on what.
Millennials, also known as Generation Y (usually referred to as Gen Y) are defined by the group of people born from 1981-1996. The amount of money they are spending and the way they are spending it differs from their parents. Most millennials’ parents are from the baby boomer generation, which consists of people born from 1956-1964. Items such as certain electronics and even certain foods are becoming obsolete. Things that are still considered essential today, such as furniture are being purchased in different and more affordable ways. Consumer habits have definitely changed, and below are some examples of how: