Ines Vuckovic / Dose

Sponsored by Unity One Credit Union

If somebody gave you $90 right now, how would you spend it—on a nice dinner or a few weeks’ worth of lattes? Would you pay off your credit card bill, or put money towards your student loans? Your answer may depend on the day, but one of the most effective indicators of how people spend their extra cash is age. Turns out each generation has unique spending habits.

The 2016 American Lifestyles survey studied the finances of Millennials, Generation X and Baby Boomers, and the research provided an interesting look at the spending habits of each generation.

Ines Vuckovic / Dose

The data shows that all Americans, no matter their generation, like to dine out, but after that patterns diverge. Boomers and Gen X agree that after a nice meal comes paying down existing debt, while millennials prefer going out.

How generations spend their money is also vastly different. According to TD Bank’s consumer survey, millennials charge 22% less to their credit cards than the average consumer. This is especially meaningful because many credit cards offer cash back programs and sign-on bonuses that make it easy to earn cash with little effort. The survey estimates that by not frequently using a credit card, the average American is missing out on about $150 of cash back rewards every year from restaurant bills alone.

Unity One Credit Union wants to give you $90 to spend on whatever you like with their $90 Cashback Bonus Program. Apply here for a Unity One VISA credit card and receive $90 if approved.