# Millennials would rather buy a car than travel the world Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-03-20 Category: LIFESTYLE Category URL: https://financedigest.com/category/lifestyle Meta Title: Millennials Prioritise New Cars Over Travel in New Research Meta Description: New research by Wonga shows millennials favour new cars and concerts, while baby boomers regret not travelling more. Learn what each generation values most. URL: https://financedigest.com/millennials-would-rather-buy-a-car-than-travel-the-worldhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd200318-14-1736842914019-compressed.jpg) - Half of baby boomers wish they’d have travelled the world when they were younger - Buying a brand new car is the most important experience for millennials Millennials are prioritising new cars and seeing bands over travelling the world, new research has revealed. The research, conducted by short term loan provider Wonga, asked millennials (18 to 34 year olds) and baby boomers (55+) to rank a series of [key life milestones and experiences to determine the differences between generations](https://www.financedigest.com/foot-orthotic-insoles-market-to-generate-us-5-billion-by-2026-growth-key-business-strategies.html "Foot Orthotic Insoles Market to Generate US$ 5 Billion by 2026 | Growth & Key Business Strategies"). They also asked older generations which milestones they wish they had prioritised, to understand how spending priorities have changed over time. Millennials may be stereotyped in the media for a love of avocado on toast that leaves them unable to get onto the property ladder, but the research revealed that saving for the deposit on a house is actually the most important milestone for 18 to 34 year olds to achieve. Saving for a house deposit is also the most [important life](https://www.financedigest.com/life-insurance-why-is-it-so-important.html "LIFE INSURANCE: WHY IS IT SO IMPORTANT?") milestone for over 55s. The [research also looked at which specific experiences people value](https://www.financedigest.com/automotive-timing-chain-and-belt-market-to-be-valued-at-us-10-20-bn-by-2027-comprehensive-research-report-by-fmi.html "Automotive Timing Chain and Belt Market to be valued at US$ 10.20 Bn by 2027 – Comprehensive Research Report by FMI") most. [Travelling is the experience baby boomers consider most important – visiting Europe](https://www.financedigest.com/how-to-travel-europe-on-a-budget.html "How to travel Europe on a budget") for a long weekend topped the poll and seeing iconic landmarks across the world completed the top five. In contrast, visiting the [world’s most iconic landmarks only just made](https://www.financedigest.com/in-a-stadium-of-their-own-migrant-workers-say-their-sweat-made-world-cup-happen.html "In a stadium of their own, migrant workers say their sweat made World Cup happen") the top ten of the experiences millennials value most. Often defined as the ‘gap year generation’, 18 to 34 year olds rank a long [weekend](https://www.financedigest.com/rouble-weakens-sharply-from-over-2-year-high-vs-euro-before-long-weekend.html "Rouble weakens sharply from over 2-year high vs euro before long weekend") in Europe fourth and taking a gap year seventh as the most important life experiences. Buying a brand new car is seen as the most important experience by millennials, followed by [seeing their favourite band live and living away from home](https://www.financedigest.com/german-home-solar-power-firm-sees-bright-future-as-demand-soars.html "German home solar power firm sees bright future as demand soars"). When asked which experiences they wish they’d had when they were younger, only 8% of the over 55s chose buying a [brand new car](https://www.financedigest.com/top-luxury-car-brands-in-the-world.html "Top luxury car brands in the world"), but half wish they had travelled the world. When asked about their main priority in life, it is unsurprising that both millennials (52%) and baby boomers (56%) say that being happy is [top of their list](https://www.financedigest.com/sport-ronaldo-tops-forbes-highest-paid-athletes-list-in-2023-after-saudi-move.html "Sport-Ronaldo tops Forbes’ highest-paid athletes list in 2023 after Saudi move"). However, 14% of 18 to 34 [year olds see](https://www.financedigest.com/the-next-upcoming-years-to-see-the-aesthetic-lasers-and-energy-devices-market-get-through-the-best-of-both-innovation-and-inquisition.html "The Next Upcoming Years To See The Aesthetic Lasers And Energy Devices Market Get Through The Best Of Both – Innovation And Inquisition") having a good job as their main priority, compared to less than 2% of the over 55s. Being surrounded by [friends and family is the top](https://www.financedigest.com/bagasse-tableware-products-market-will-top-us-3-75-bn-by-2031-as-consumers-proclivity-for-eco-friendly-and-single-use-product-purchase-grows.html "Bagasse Tableware Products Market will top US$ 3.75 Bn by 2031 as Consumers’ Proclivity for Eco-Friendly and Single-Use Product Purchase Grows") priority for over a quarter (27%) of baby boomers, but just under one in ten (9%) millennials. The most important experiences for millennials and baby boomers are: **Millennials****Baby boomers**Buying a brand new carVisiting Europe for a long weekendSeeing your favourite band liveSeeing your favourite band liveGoing to university and living away from homeBuying a brand new carVisiting Europe for a long weekendGoing to university and living away from homeAdrenaline-seeking activities: e.g. skydiving, climbing a mountain etc.[Seeing iconic landmarks in the world](https://www.financedigest.com/in-u-turn-iea-sees-world-weathering-lost-russian-oil-supply.html "In U-turn, IEA sees world weathering lost Russian oil supply")Going to a festivalGoing to a festivalTaking a gap yearOwning a petOwning a petAdrenaline-seeking activities: e.g. skydiving, climbing a mountain etc.Renovating a houseTaking a gap yearSeeing iconic landmarks in the worldRenovating a house James McMaster, Head of Marketing in the UK at Wonga, said: “It is really [interesting to see](https://www.financedigest.com/portugal-pm-welcomes-lufthansas-interest-in-tap-scholz-sees-good-fit.html "Portugal PM welcomes Lufthansa’s interest in TAP, Scholz sees good fit") which experiences each generation values the most, and the differences between millennials and baby boomers. With the differences between the two generations widely documented in the media, it’s particularly interesting how the older generation prioritises travel experiences and even wished they had travelled more.” To read more about how the older generation look after their money, visit Wonga’s Cash Smart hub: https://www.wonga.com/cashsmart/articles/image-articles/saving-tips-from-the-older-generation/ --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---