Gurner exaggerated the price consumers pay for the treat: $19 for a slice isn’t the norm. Square found that the average piece of toast costs $6.78, although, depending on the purveyor, it goes for as little as $2 and as much as $18. While some people might be paying top dollar, that’s certainly not the rule.
And despite the thousands spent on avocado toast per month, millennials’ spending habits aren’t as frivolous as Gurner assumes. According to a new survey by Bankrate.com, young people put the majority of their cash toward “basics” like groceries and gasoline. Millennials spend an average of $2,300 more per year than older generations do on these categories, which include groceries, gas and cellphone service.
Bankrate found that millennials spend an average of $9,568 on groceries per year, which shakes out to around $800 per month.
It is worth noting, however, that though groceries are their biggest expense by far, millennials do spend more than other generations do on dining out. They put an average of $2,796 per year toward eating at restaurants.
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