5 things millennials are paying for that their parents never would have dreamed of spending money on

Millennials — both men and women — are turning to plastic surgery sooner than their parents did. In 2018, 72% of facial plastic surgeons reported seeing a rise in patients under age 30 seeking cosmetic surgery or injectables, according to a survey by the American Academy of Facial Plastic and Reconstructive Surgery.

Injectables are particularly increasing in popularity, with Botox leading the way, the survey found. Millennials have normalized facial plastic surgery, in part because of the influence of social media and technology.

Instead of attempting to reverse the aging process later on in life — the way previous generations have approached plastic surgery — they're trying to maintain their youthful look, Phillip R. Langsdon, AAFPRS president, said in the press release.

As more women delay having babies than ever before, many are turning to egg freezing.

And they're shelling out big bucks to do it: A single cycle can average anywhere from $6,000 to $20,000, according to experts. That doesn't include the $500 to $600 yearly storage costs. But women aren't the only ones paying for egg freezing costs — partners are also helping out.

Some companies, like Google, Apple, and Facebook, are even offering egg freezing as a company benefit so employees can have more freedom to plan for a family on their own timeline, but it's not a common perk.

Why buy clothes when you can just rent them? Rent the Runway, which allows women to rent high-end clothing, made rental fashion mainstream when it was founded in 2009. Since then, a number of rental clothing services have popped up, from Nuuly to Banana Republic Style Passport to Gwynnie Bee.

Rental clothing appeals to younger consumers because it offers a more sustainable way to shop and live a minimalist life, reported Business Insider's Mary Hanbury. It also caters to their craving for newness, she wrote.

Brett Northart, president of rental company Le Tote, told Alejandra Reyes-Velarde of the Los Angeles Times that rental clothing is popular because consumers want flexibility and have less desire to own things after the recession.

But it's not just wardrobes that millennials are renting. They're renting out all aspects of their lives: There's Airbnb for travel, Lyft for transportation, and Fernish for furniture, among other things. That's not to mention other aspects of the share economy, like streaming services such as Netflix and Hulu, which millennials have turned to in order to cope with burnout.

In an article for The Times, Sapna Maheshwari wrote: "Many young American urbanites have resigned themselves to a life of non-ownership." These days, everything is up for lease, she said.

As the market strategists at ConvergEx Group wrote in a note to clients, "Renting and sharing allow us to live the life we want without spending beyond our means."