Do Old People Spend More Than Youths?

[Dalia Chf]

I'm neither old nor young, but I can definitely tell you that I'm at that age in which I'm starting to have my own money (a little more of it) but I still don't have many responsibilities, so I tend to spend more than I did when I was younger and depended solely on my parents.

So it definitely depends on how many responsibilities in life you have, that's for sure. As long as you don't have taxes or rents to pay, you feel like your money is only yours to spend.

[Ola Aina 2]

I don't think old people spend more than young people. Old people are even barely mobile. How would they spend money if they can't even go shopping for instance? So young people spend more.

[Ash Lynwood]

I think that in some ways old people spend more than youths, but really only when it comes to things like medical bills, etc. When we're younger, we tend to spend money a lot more freely on things, whereas once we get older, we have to save that money to cover our needs, like food, housing, medical bills, supplements, medications, etc. So I think youths probably spend more money than old people in most ways.

[MdFoysalAlam]

While they make more frequent purchases and go out twice as often, people ages 18 to 34 spend about a quarter less than both older generations. Millennials mainly direct their money toward retail and dining purchases, the report found

[Opara Jerry]

It depends on the person in question. Some people don’t need more, so they spend less. On the other hand, in old age, your health takes a nose dive, so it might be a serious liability. But then again some old people are still very healthy. So it depends on the individual in question.

[Hannah Yi]

I think lots of people think of it that way. Like if you earn more when you're young, you can spend more when you're older. But I don't think it's really a matter of spending more, it's a matter of earning less. Whether it's cause of health issues or just simply old age, you probably won't earn as much as you're earning now as you continue to age.

[Okonobe Chioma Chukwuma]

For me,it's all depends on the individual.you know most old people are likely to fall sick easily.they might save alot when they were young,but spend it all on health issues when they get old.the same thing applies with the youths.when they spend unnecessarily , they might spend more than an healthy old person

[Ruth Omonegho]

I'm not sure spending is an age thing. I think it is more of a responsibility thing. Depending on one's responsibility and taste, whether old or young, one can spend more or less.

[Ekene67]

I think the youths spend more than the old people, although the old might tend to spend their money on their kids and also save for retirement.

[Eruore Ekpoh]

I don't think aged people spend more than the youth. Some of them people are in good health. I believe they would be more interested in activities that relax them, which may not cost much.

[Meenahhhh]

Yes they do. I would say the main reason for this is the amount of money that goes into paying for carers as well as any other health related bills.

[Julie Gebrosky]

I think older people may spend more, but it depends on the person as well as what they’re actually buying. Older people may spend more on healthcare, but younger people may spend more on going out. Some people are also just more frugal than others regardless of their age.

Also, inflation is something to consider. $20 went a lot further a few decades ago. Technically we are all spending more than we used to for that reason alone.

[Mayang Bature]

Old people most likely spend more because of health and hospital bills, together with house bills and other things an average young person spends money on.

[Blessing Chi Peculiar]

In my opinion, the answer is yes, as they are likely to spend more money on medical expenses and supplements due to the loss in health that typically comes with aging. Paying such expenditures will be made easier by saving for retirement.

[Okonobe Chioma Chukwuma]

For me, it all depends on the individual, most old people spend more than younger ones and also most younger ones spend more the old people.