Consumer Spending Philosophies By Generation, January 2014 [CHART]

Chart - Consumer Spending Philosophies By Generation

A slight majority – 53% – of Millennials (born 1981-1995) say they have a “live for today” spending philosophy, a mindset which is not shared by older generations, according to a study [PDF] released by the NRF using Prosper Insights data and sponsored by KPMG. Indeed, just 38% of Gen Xers (born 1965-1980) concur with this sentiment, and even fewer Baby Boomers (born 1946-1964; 25%) and Silents (born mid-1920s to 1945; 23%) share it. Each generation is getting less impulsive with its spending, though.

Citing data from a Prosper Insights survey conducted in October 2013 (the above data is from the monthly survey conducted in December), the NRF finds that respondents are far more likely to have become more practical than impulsive with their purchases in the previous 6 months.  Read the rest at MarketingCharts.