Do Old People Spend More Than Youths?

[Sumto Nii]

I think that youths are under pressure to make expenses on a daily than older people. It is true that youths would want to follow trends and live their best lives. The older people have seen it all and they understand that extravagant lifestyle is not rewarding.

[Blessing E]

It all depends. Every generalization, they say is false. We can't claim that either old or young spends more than each other, because this may not always be the case. We can however, work by statistics that young people are likely to spend more seeing that they have more of the youth energy burning and may want to spend. However, an argument can still be placed as to why older person's spend more.

[Mbali Qalinge]

I don't think it's about old people spending more than young people. I believe the old ages will be when one wants to quit working and rest, even indulge in a few things. The money saved should be for taking care of yourself and maintaining independence even in your old age.

[Diamanta Koka]

I think it depends. I am not sure one can really compare those two because when youths spend a lot more on clothes, partying, cars, school, books, and other stuff, old people spend more on their healthcare and hospital bills. It also depends on the lifestyle. I know some old people who just buy their necessities and other who have expensive cars and like to enjoy their retirement. And young people who party every weekend and others who mostly stay at home. It depends on the kind of job the old people had, and how much money they saved when they were young. As for youths it is harder for us to save a lot of money, because we are in school and in most cases our parents help us with our expences.

[Mahwish Asgher]

Old age comes with a lot of challenges like poor health and less opertunities. So it is a good idea to save for the time when you will be less able to earn. However, I think young people spend more as they want to enjoy the time they have.

[Shadreck Rogers]

Old people are likely to spend more on things like health care since at this age their health declines. However, in other aspects of life like school, cars, groceries or holidays old people are likely to spend less than an average youth.

[Boo_loves_books]

This is a very thought-provoking question. Everyone's spending habits are different, but I think in general, older people spend more money than younger people. Younger people usually buy lower quality than older people because they usually earn less. For example, young people are more likely to buy from cheaper, fast fashion brands, like Shein and H&M, whereas older people tend to favor higher quality and long-lasting clothing from higher-end stores. Similarly, Older people are more likely to spend more on housing, such as a 3-bedroom stand-alone in a gated community, than younger people who typically rent rooms in houses or apartments. Also, older people may have more medical expenses.

[Nnekazoe]

It's better to save up when you are young to have enough when you are old and retired.

[Jackie Kook]

I definitely think there's a combination of wanting to spend more because they've worked their whole lives and saved or what have you, and then have the time to do more, but also they are more likely to be on a reduced and/or fixed income. You could also argue that older folks might have less to pay for, as a large chunk of money for younger people (such as families) would be spent on a traditional mortgage, child care, gas, food for multiple people, etc., that might not be such a necessity when you're older. I also wonder how this would compare across older folks from multiple generations, where people are living longer and caring for elderly/grandchildren and such. It's an interesting question!

[Ekezie1998]

It is quite odd to think that old people spend more than youths and in fact the general data does seem to suggest that youths do spend more than old people.

[Beverly_Reads]

I think the young people spend more cause an old man's cravings and desires can't be more than a good house, good food, and peace. But young people grumble from one need to another.

[Stevenmusk]

I don’t think they spend more than their younger selves but they have lesser opportunities and less work that they can do to earn money due to their health and age so they are advised to save for times like that and to put health problems into consideration as well.

[The Nabongos Duchess]

Not really.The youth spend and keep working to get more but at retirement, the old people just keep subtracting from what they saved anday have little a avenues to generate cash hence the need to plan.

[Nwoko E]

It is quite unusual and uncommon to say that old people spend more than young people as they develop more self-control and conservatism. So I will have to disagree with this position.

[SnowStorm244]

I believe it just depends on the person, because I know many people who travel around the world when they are older, and those who have many hospital bill. I think that it depends on what you do, and mostly on the person if they spend more in their youth than when they are older.