Millennials Spend Money Differently

“Millennials are different to any previous generation,” said Nick Molnar, chief executive officer and cofounder of Australian buy-now, pay-later provider Afterpay. “What a lot of people don’t speak about is that two out of three people in the U.S. aged 18 to 30 actually do not own a credit card. They all use debit cards. Why is that important? It’s important because Millennials are spending money differently.”

Mostly, that’s been driven by the 2008 financial crisis, he explained, adding: “By 2025 going to own half of all disposable income in the workforce — actually in America and largely in the world.”

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