Millennials spend more on necessities than older generations

There's plenty of speculation out there about why Millennials aren’t buying homes, investing in the stock market or even buying diamonds. But a new report found that Millennials spend significantly more on necessities like groceries and gas than older generations.On average, people between the ages of 18 and 36 spend $2,300 more per year on groceries, gas, restaurants, and cellphone bills than those who are 37 and older, according to a study from Bankrate.com.On the other hand, Millennials spend $1,130 less on travel and television than their elders.