GoKawiilBank of America data shows older millennials outspend other generations on hobbies
Bank of America Institute analyzed credit card transactions through August 2026 and found overall hobby spending up 7.9% year over year, growing faster than transaction volume. Older millennials spend nearly $220 per person monthly on hobbies, more than Gen X and Baby Boomers (both around $200), while Gen Z spends about $100 and younger millennials just over $140.
GoKawiil's interpretation of the reporting above, not reported fact.
The gap between spending growth and transaction growth suggests consumers are paying more per hobby purchase, a pattern researchers link to so-called 'funflation.' Bank of America Institute suggests older millennials may spend more because they're covering costs for their children's hobbies as well as their own, though this is offered as a possible explanation rather than a confirmed cause.
- Hobby spending rose 7.9% year over year through August, per Bank of America Institute data.
- Older millennials spend about $220 monthly on hobbies, the highest of any generation studied.
- Gen Z spends the least, around $100 per month, roughly half of older millennials' spending.
Source: entrepreneur.com — Amanda Breen, 2026-09-28
Published there as: “How Does Your ‘Fun’ Spending Compare to Your Generation’s? Baby Boomers Splurge More on Hobbies Than Gen Z and Young Millennials.”
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