People have spending habits that are deeply ingrained, but as we become more mobile and online, are Millennials the next generation that will think it’s normal to keep a wallet? Will they say, ‘I can’t believe we used to carry around metal cards with chips?’” says The Fletcher School at Tufts University’s Ben Mazzotta, who helped design the challenge.

People have spending habits that are deeply ingrained, but as we become more mobile and online, are Millennials the next generation that will think it’s normal to keep a wallet? Will they say, ‘I can’t believe we used to carry around metal cards with chips?’” says The Fletcher School at Tufts University’s Ben Mazzotta, who helped design the challenge.

"Of teen budgets, fashion accounted for 39%, up from 37% a year ago. Spending by male teens was the highest, a trend which has historically indicated a fashion spending recovery."

-Semiannual survey from Piper Jaffray

"Linda Korman, advertising director for Seventeen Prom and Teen Prom, says teen girls view prom as their “red-carpet moment” and are “heavily influenced” by celebrities who walk actual red carpets in designer gowns."

— Prom spending rises to average $1,078 this year, survey says

(Source: USA Today)

As millennials move towards adulthood, their increased spending could be a savior for the struggling economy, but can traditional values overcome looming student loan debt and a different outlook on the world? Will millennials start spending like boomers?

As millennials move towards adulthood, their increased spending could be a savior for the struggling economy, but can traditional values overcome looming student loan debt and a different outlook on the world? Will millennials start spending like boomers?