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Theyve lived through recessions, rising housing costs and inflation.
So the pressure to save is real.
Its not always the big-ticket purchases that it’s crucial that you watch out for.
Often, its the small, repeated expenses.
They dont seem like much in the moment, but they can really add up over time.
Clothing and Footwear
Many Gen Xers spend freely on apparel.
Having a strong preference for one or more premium brands can make this kind of spending even worse.
Of course clothing is essential, but its important to moderate yourself.
The rise of streaming services seemed to promise that everything would become cheaper and more convenient.
And that can be true if you monitor your spending.
Individually all these services are cheap, but together they can cost more than cable ever did.
Especially if you lose track of what youre paying for.
More likely than not, that money could be better spent on saving for retirement.
Travel
For many Gen Xers, travel is consistently one of their top priorities.
You want to see the world and have new experiences, and thats totally understandable.
Or you spend more than you planned to on shopping and souvenirs.
Dining Out and Takeout
Food is getting more and more expensive.
Its convenient, easy and once youre in the habit, it can be hard to stop.
But eating at restaurants or getting takeout all the time isnt cheap.
If you get DoorDash, Uber Eats or another delivery service, it costs even more.
They pile on delivery fees and service charges to every meal sometimes doubling the menu price.
Over time, that convenience can cost thousands, which is money thats not going into your retirement account.
Beauty and Personal Care
Spending on skincare, hair care, cosmetics and grooming has become routine.
Of course you have to look good and take care of yourself.
Electronics
Gen Xers love their gadgets.
Its not just phones, tablets, laptops and smartwatches.
Its also smart home devices, game consoles and kitchen gadgets.
You dont want to feel like youre getting left behind.
You want to stay connected and relevant.
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