- Coronavirus is causing millennials to change their spending habits more than other generations.
- They're cutting back on spending in case a recession happens and shopping online more.
- Some millennials are also worried they won't be able to afford costs for coronavirus treatment and screening, should they become infected.
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Coronavirus may put most millennials at less physical risk than older generations, but it may be changing the generation's spending habits more.
They're already cutting back on spending in case coronavirus leads to a recession, and they're taking the shopping they are doing online to avoid going out in public. They're also taking advantage of delivery apps more than usual.
And when it comes to affording coronavirus treatment and screening, many millennials are worried. More than one-third of insured millennials aren't confident they could handle costs, according to a First Insight survey, and they said they might have to borrow money from family or the bank to afford it.
But not all millennials are as concerned about coronavirus or practicing social distancing. Some are capitalizing on cheap coronavirus flights to see the world or take a vacation.
Here's how coronavirus is affecting millennials' financial behavior.
