Millennials Embrace High-Low Budgeting

High-Low BudgetingMillennials are savvy shoppers and are often smart about their spending. They research items before they buy them, get their friends’ opinions, find the best deals, and search for discounts or coupons. However, they’re also interested in luxury items and to make such purchases, they embrace high-low budgeting. This means, they’ll splurge on items they really want, such as a tablet or handbag, but they’ll shop at more affordable stores, make their own items, and prepare their own food in an effort to cut back on spending. According to Ypulse research among 1200 14-34-year-olds, 51% say they’re sometimes willing to splurge on luxury items, but they always buy inexpensive items to balance it out. We’ve been noticing this behavior which reflects how resourceful Millennials are and how they’ve adapted in today’s economy.

For example, technology is of huge importance to Millennials and they’re willing to buy the latest devices, which they consider crucial for entertainment and communication purposes. They’re also willing to splurge on some staple clothing items that they know they’ll get plenty of use out of. They’ll even buy designer items on occasion, however, they’re highly aware of how to do so in the most affordable way. They embrace flash deal sites like HauteLook and Gilt Groupe, where they can buy such items for less. They also pay close attention to when stores offer free or reduced shipping and when coupon codes are available. In fact, 43% say they won’t buy an item online if they can't get free shipping.

Additionally, they’re interested in designer collaborations for less such as Target for Neiman Marcus, which enable them to have a taste of luxury in an affordable way. They’ll also buy inexpensive basics at mass merchandisers such as Target or Walmart, trendy items at fast…


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“I’ve been using Apple products for years. Although Samsung technology is probably better, I am so used to Apple that I would probably not switch.”—Female, 18, PA

Major financial institutions are still trying to figure Millennials out, so Prudential conducted a survey to gather some much-needed intel. The Great Recession-era adults are pessimistic about their financial futures: 79% don’t believe that “comfortable retirement” will be a possibility when they’re in their 80s and 70% think “it’s impossible” to save the recommended annual amount to make it possible. Ypulse found that saving for retirement falls behind other, more imminent financial priorities. (MediaPost)

Teens are rallying around the issue of gun control in increasing numbers. A recent survey from Everytown for Gun Safety and Giffords (conducted by Ypulse) found that gun violence prevention is the top issue young people expect the candidate they vote for in 2018 to take a stance on. Six in ten 15-18-year-olds said they’re “’passionate’ about reducing gun violence” and 72% of 15-30-year-olds agreed that politicians who don’t do more to combat gun violence shouldn’t be re-elected. (Mic)

Need proof that the future of STEM is female? Just take a look at children’s drawings. From 1966-1977, researchers asked 5,000 students to draw a scientist, and about 99% of them drew men. Fast forward the same study to 1985-2016, and one-third of children drew a female scientist. But we still have a long way to go to break gender stereotypes: 14-15-year-olds “drew more male than female scientists by an average ratio of 4-to1." (CNN)

Digital consignment store ThredUp wants to open 100 IRL stores. They’re expanding their physical footprint from two to ten stores this year, with more planned for the future. Why are online-only brands increasingly building bricks-and-mortar? (Think: Glossier, Everlane, even ThredUp competitors like The RealReal). Creating experiences with guests from a common check-out up to an in-store event builds “trust” and “awareness.” (Glossy)

Are Instagram and dating apps “crippling” relationships? Psychotherapist Esther Perel thinks so. Ypulse data shows 27% of 18-35-year-olds have used a dating app, 12% use them weekly, and nearly eight in ten use other social media apps weekly or more often. All that time scrolling past potential partners creates a new kind of loneliness: Instead of feeling “socially isolated,” they’re “experiencing a loss of trust and a loss of capital while you are next to the person with whom you’re not supposed to be lonely.” (Recode)

“We should be nice and good to others because we would want the same in return, being rude to someone doesn't make the situation any better.”—Female, 21, MI

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