There’s a vast divide between what Millennials and Gen Z consider essential and what Boomers view as a waste of money.

This gap can be chalked up to different priorities – Millennials and Gen Z valuing convenience and experiences, Boomers prizing thriftiness and practicality.

Now, it’s not about who’s right or wrong, but rather understanding these contrasting perspectives. As a Boomer myself, I’ve noticed a few things that younger generations see as must-haves, which we consider needless expenses.

So, let’s dive into these 8 things that Millennials and Gen Z can’t live without but Boomers find frivolous. This isn’t about pointing fingers, just shedding light on our generational differences.

1) Gourmet coffee

There’s something to be said for the craft and artistry that goes into making a gourmet cup of coffee. Millennials and Gen Z have embraced this trend, making it a daily essential.

But from a Boomer’s perspective, spending $5 or more on a cup of coffee every day seems like a frivolous expense. After all, you can brew a decent cup at home for a fraction of the cost.

Of course, the younger generations argue that it’s not just about the coffee, but the experience and convenience. Meanwhile, Boomers would rather save those dollars for something more substantial.

This isn’t meant to start a debate over coffee preferences. It’s about understanding how different generations view the value of money in relation to everyday things like a cup of gourmet coffee.

2) Subscription services

Now, I have to admit, the convenience of subscription services is undeniable. As a Boomer, even I have succumbed to a few of them. However, when I see my Millennial kids and their Gen Z friends subscribing to every new service that hits the market, I can’t help but shake my head.

From music and movies to meal kits and fitness apps, these subscriptions can quickly add up. For Millennials and Gen Z, it’s about having access to an array of choices at their fingertips. But as someone who’s always been conscious about where my money goes, I find it hard to justify paying for multiple services that often overlap.

Take my son, for instance. He has subscriptions to three different music streaming platforms. When I asked him why he doesn’t just stick with one, his response was simple: “Each one has something different to offer.” While I understand his perspective, it’s still a tough pill for me to swallow financially.

3) High-end smartphones

The smartphone has become an extension of ourselves. I see it in the younger generations, where a high-end smartphone is not just a communication device, but a fashion statement, a status symbol.

Millennials and Gen Z are often eager to get their hands on the latest models, willing to shell out a considerable amount, sometimes even when their current phones are still in perfect working condition.

On the contrary, Boomers often hold on to their phones until they’re on their last digital breath. The view is more utilitarian – as long as it works and serves its purpose, there’s no need for an upgrade.

Here’s something to consider: Did you know that according to a survey, almost 40% of iPhone users continue to use their devices after the screen has cracked? It shows how much value they place on these devices despite their hefty price tag.

4) Designer clothing

Fashion is a form of self-expression, and Millennials and Gen Z have taken this to a new level with their penchant for designer labels. From high-end sneakers to branded sweatshirts, these generations aren’t shy about shelling out for the latest trends.

Boomers, on the other hand, generally prioritize longevity and comfort over brand names. They’re more likely to invest in a timeless piece of quality clothing that will last them years, rather than a trendy item that might be out of style by the next season.

Again, this isn’t about declaring one approach superior to the other. It’s simply an observation of how different generations perceive the value of money when it comes to fashion.

5) Travel experiences

Travel has always been a source of joy and education, a way to broaden our horizons. And Millennials and Gen Z have embraced this with open arms. They prioritize experiences over material possessions and are willing to spend a significant portion of their income on travel.

As a Boomer, I understand the allure. There’s something inherently beautiful about seeing new places, meeting different people, and immersing oneself in diverse cultures. But what strikes me as extravagant is the frequency and style of travel that younger generations seem to prefer.

Luxury hotels, fine dining, and high-end tours seem to be the norm. As someone who grew up valuing thriftiness, it’s hard for me to comprehend such expenditure on short-lived experiences. But then again, maybe it’s just a different way of looking at life – one where the value is placed on memories created rather than money saved.

6) Fitness memberships

I’ve always been a firm believer in the importance of staying active and healthy. But when I see my daughter’s monthly bill for her boutique fitness studio, it gives me pause. These trendy, specialized classes can cost a small fortune.

Growing up, my fitness routine was simple – cycling around the neighborhood, playing in the park, or doing some basic exercises at home. The concept of paying to exercise in a fancy gym was foreign.

Yet, for my daughter and her friends, it’s an essential part of their lifestyle. They love the sense of community, the variety of classes, and the motivation that comes from working out in a group. Despite understanding this, I can’t help but feel a twinge of discomfort each time I see that monthly charge.

7) Dining out frequently

Food is not just about sustenance for Millennials and Gen Z, it’s about experience, exploration, and even social media bragging rights. Dining out at trendy restaurants and trying the latest culinary fads is a regular part of their lifestyle.

Boomers, however, often view frequent dining out as an unnecessary expense. Home-cooked meals and the occasional treat at a restaurant is more their style. They’d rather save the extra money or spend it on something they deem more worthwhile.

Again, it’s a matter of perspective. What one generation sees as a waste of money, the other sees as an integral part of their social life and food exploration.

8) Latest tech gadgets

The tech world moves at a breakneck speed, with new gadgets and devices hitting the market constantly. Millennials and Gen Z are often the first in line to buy these latest innovations, seeing them as essential tools for work, leisure, and staying connected.

For Boomers, though, this constant upgrading can seem like a drain on resources. Many Boomers prefer to stick with their tried-and-true devices until they no longer function, rather than rushing to buy the latest model.

It’s a stark contrast in attitudes, reflecting the rapid pace of technological advancement and the differing values of each generation. The key takeaway here is the importance of understanding these differences and respecting each other’s viewpoints, as it shapes our world in myriad ways.