With only 3% of the luxury purchases for Millenials compared to 50% for Boomers, the 33% and 27% increases in luxury and jewelry spending are just barely out of the noise on whether this is a true trend or not.   As for the technology and gadgets, it may have formerly been considered a luxury (and it still really is)...more

My parents were public school teachers and valued education.  They paid for both my sister and my private college educations with no loans(late 90s/early 2000s).  Tuition was between $15-20K per year after some hefty scholarships both of us received, but with another $5-8K per year for housing and meal plans.  Our pare...more