7 ways life is more expensive today for American millennials than previous generations

It can be easy to gripe about millennials, but the truth is that, in some ways, millennials face a harder life than their parents did — largely because they’re confronted with different financial struggles and increasing expenses.

While millennials have benefited from a 67% rise in wages since 1970, this increase hasn’t kept up with inflating living costs. Rent, home prices, and college tuition have all increased faster than incomes in the US, according to research conducted by Student Loan Hero.

However, not all costs have soared.

While the cost of some consumer goods has risen, many have remained stable, and some — such as computers, televisions, and other electronics — have plummeted.

Gas is also cheaper. One gallon of regular unleaded gas was $0.60 in 1976, but adjusted for inflation, it was $2.65 a gallon, Student Loan Hero found. In 2016, a gallon was $1.96.

And fun fact: A pint of beer in 1976 was $1.12, or $4.94 in today’s dollars. Now it’s only $3.99.

While it’s nice to save on these everyday purchases, The Atlantic points out that it’s the most important parts of the economy that are getting more expensive, creating an even bigger financial burden for millennials to shoulder.

But it may be making millennials more financially savvy.

“Facing a stark set of financial circumstances, millennials started adulthood with less room for financial mistakes than previous generations,” Shannon Insler wrote in an article for Student Loan Hero. “In response, they are managing their money differently. More millennials are refinancing student loans, delaying a home purchase, and looking for creative ways to earn more money through side hustles.”

Here are the most significant ways life is more expensive for millennials.