$4 coffee and 2 other 'stupid' things millennials waste money on, according to Kevin O'Leary. via CNBCMakeIt
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.
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