Millennials: Young, Broke, and Spending on Luxury

thefiscaltimes.com: Shaun Spellman, a 27-year-old owner of an Internet marketing firm, recently paid $300 for the newest Android cell phone the day it was released, even though he believes it will drop in price within a few months. But for Spellman, the benefit of having the latest technology is worth it. Though he's saving for an October wedding and a new home, "that doesn't stop me from making some purchases that I consider necessities." He skimps in other areas, driving a 1997 Camry and eating out only when he has a daily deal coupon.