Survey Millennials spend an average of $838 a month on nonessentials

Survey Millennials spend an average of $838 a month on nonessentialsSurvey Millennials spend an average of $838 a month on nonessentialsWhat your favorite necessity? Maybe youd choose coffee over vacations, or your technology over takeout.TD Ameritrades new survey of 1,100 American adults is called The New Basics, and breaks down the things we consider modern basics, from travel to coffee (sensing a pattern?) to dining out.What are the basics for your lifestyle? Apparently, they arevacations or travel 61%dining or (or takeout) 59%coffee 46%The not-so-basicsThen theres non-essential spending you know, cocktails and cabs and clothing. While the average spend per month in this category is $697 per month, Millennials spend by far the most in this category at $838.In fact, 16% of Millennials spend in the $1,001-2,500 range Baby Boomers spend $683, and Gex X spends the least, $588.Interestingly, Millennials also reported feeling the most pressure to spend money on things they didnt need . They rated high in pressure from every single categoryFamily and friends 43% (compared with 31% for Gex X and 30% for Boomers)Boredom 33% (twice as high as Boomers)Advertising 20% (five times higher than Boomers)Social media 21% (nearly three times higher than Gen X, and 10 times higher than Boomers)Be careful, Millennials, because the next stop is credit-card debt 32% of respondents said their non-essential purchases contributed to debt, and the percentage (49%) was much higher for Millennials.Two lessons Dont confuse your luxuries with your basics. Also, bad credit has been shown to lead to roommates.