Home Business NewsBusiness Money topslList of London millennial’s worries while relationships take a back seat

Money topslList of London millennial’s worries while relationships take a back seat

22nd Aug 17 12:11 pm

New survey reveals…

Monetary issues are top of mind for London’s millennials, with almost 40 per cent saying they worry more about money than other matters, including their relationships and world issues. A new survey conducted by car-sharing service DriveNow, has revealed what makes millennials tick by delving into their priorities regarding their spending habits, social lives and leisure activities.

London’s millennials continue to embrace the sharing-economy, with 73 per cent saying they use services and apps such as DriveNow, Airbnb and Uber. While reasons such as convenience and sustainability have been touted for the popularity of these services, 69 per cent of this thrifty generation specify affordability as their top reason for usage.  

James Taylor, managing director of DriveNow UK said: “Millennials are a large part of our user base and it’s clear that affordability and value for money are huge priorities for this generation. As London’s leading flexible car club, we strive to offer a convenient and cost effective transport solution whenever our members need access to a car. We look forward to more of London’s millennials taking advantage of DriveNow as we continue to expand across the city.”

Money Matters

Bucking gender stereotypes, London’s stylish male millennials spend more money on clothing each month than women, shelling out an average of £107.63 to their £66.35. In fact, it turns out women are much thriftier with their money overall, compared to their male counterparts; on average women pay less on household bills, exercising /gym classes and dating per month, the survey reveals. This could be due to the fact that while the average salary for London’s millennials is £34,801, men still earn almost 8,500 per year more, on average than women. 

Leisure Activities

The poll also revealed that London’s young people could be at risk of turning into couch potatoes, with surfing the internet (61 per cent ), browsing social media (58 per cent ) and watching boxsets (49 per cent ) topping the list of ways to unwind – while going to the pub (37 per cent ) and playing sports (19 per cent ) fall far down the list. Surprisingly, despite the success of this summer’s Love Island, 38 per cent of millennials say they prefer to unwind with a good book while only 20 per cent admit to watching reality TV.

However this generation’s wanderlust is still high, with 47 per cent indicating they are saving up for a foreign holiday and 22 per cent admitting they take five or more holidays, in the UK or abroad, each year.

With one of London’s largest fleets of shared, fully electric vehicles, DriveNow is providing sustainable and cost-effective transport solutions in the capital. By engaging with London millennials and encouraging car-sharing, DriveNow aims to help create a healthier, more sustainable city. For more information on DriveNow and how you can become a member please visit: https://www.drive-now.com/gb/en/london

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