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The One Thing Millennials Can Do to Live Life More Comfortably in the Future The age group may not like buying big-ticket items, but they can benefit from early investing behavior.

By Phil Town

Opinions expressed by Entrepreneur contributors are their own.

After living through the Great Recession and dealing with student debt, the millennial generation have developed their own way of planning finances and spending their money. Their decision to invest now or invest later can have great dividends later on.

Entrepreneur Network partner Phil Town describes some of the unique behaviors that set millennials apart in their spending behavior.

Millennials would rather spend their money on a trip to Europe or a concert, rather than on a nice car or living away from their parents -- or to put it another way, millennials are presumed to spend money on experiences rather than possessions.

Millennials are also known to splurge on convenience items, according to Town, spending more money on transportation and eating out more often than other age groups.

Some of these habits can be extremely helpful down the line, though it is also important that millennials set aside a portion of their income for investing in their future. With a few years head start, Town emphasizes that early investments will have great reward.

Click play to learn more.

Related: How Apple's Competitive Advantage Sets Itself Apart

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Phil Town

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3 Bad Investing Habits You Should Drop Before It's Too Late

Nervous About Investing? Think About Your Money This Way.

How to React When a Recession Is Approaching

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