Millennials like to save, with the highest savings rate—14 percent—of any age group. They also like to socialize, meeting friends for lunch, brunch or after work. In fact, Millennials eat out five times a week on average, which can drain cash flow and put other priorities out of financial reach.  So, how many times did you eat breakfast, lunch or dinner out this week? And what else would you do if you could stash that cash somewhere?
EATING OUT ONE TIME A WEEK = $13,000 OVER 10 YEARS
Once a week? Good for you. You’re either a monk or really into cooking and brown-bagging. But imagine if you eliminated even that one take-out sushi. With the savings , you could:
Get your jam on at 30 major music festivals
Chill out with 87 bookings at a day spa
Max out your annual 401(k) and IRA investment and get closer to the retirement reality you want
EATING OUT THREE TIMES A WEEK = $39,000 OVER 10 YEARS
Seems unbelievable, but cutting back on things like dinner out, pizza delivery and take-out lunches for a decade could give you enough cash for 30 round-trip flights from New York City to London. What else could you do with that chunk of change?
One year’s tuition at a private university (and check out some other tips for avoiding student debt)
$500 donation to 78 of your favorite charities
$325 per month toward protecting your income with disability income insurance
EATING OUT FIVE TIMES A WEEK = $65,000 OVER 10 YEARS
Congratulations—you’re the quintessential millennial. You know every take-out menu by heart and your refrigerator looks like a who’s who of local eateries. Seriously, you can do this. Dial back on eating out and you’ll have enough money to:
Build a solid emergency fund that would tide you over for 13 months
Plan an ultra-cool wedding and invite 271 guests
Invest in protecting your income and life priorities.
THE BOTTOM LINE
With just some minor belt-tightening (literally and figuratively), you can free up major bucks to spend on bigger life goals—education, retirement, protecting your family—and fun stuff, like a new car or the wedding of your dreams.
 From Smartphones to Smart Planning: Millennials want and need digital and human experiences to achieve financial independence. Guardian Life Insurance Company, 2018.
Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Lifetime Financial Growth is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Links to external sites are provided for your convenience in locating related information and services. Guardian, its subsidiaries, agents, and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services, and make no representation as to the completeness, suitability, or quality thereof.
2018-68083 Exp. 10/2020