Chase Bank Tweeted some Monday Motivation.

Then, because they are cowards, they promptly deleted it because of internet backlash.

Here is the horrible thing that they said:

Well… they were right.

According to Barclay’s Small ‘swaprifices’ could save millennials up to £10.5bn a year.

Millennials could save a whopping £10.5 billion* a year by making minor changes to their spending habits, new research from Barclays found.

More than two-thirds (67 per cent) of millennials admit they don’t save enough – or anything at all – with new findings showing that the average 20-37-year-old spends £3,312.72 a year on takeaways, eating out, daily treats, socialising and buying new clothes.

According to Barclays’ research, millennials spend, on average:

£904.20 a year on socialising
£738.96 a year on new clothes, shoes and accessories
£705.96 a year on eating out
£522.60 a year on takeaways
£441 a year on daily treats (coffees etc)

But rather than consigning themselves to a life of frugality, Barclays’ research shows that making small ‘swaprifices’, such as replacing every fifth takeaway, shop-bought coffee and night out with free alternatives or having a night in, could save millennials up to a hefty £662.54, on aaverage.

This data isn’t unique to Barclay’s.

CNBC has covered this twice:

Here’s how millennials spend their money, compared to their parents

When it comes to saving money, a lot of millennials are falling short: The majority of young people have less than $1,000 in their savings accounts, and a significant number have nothing at all.

Perhaps their spending habits could explain their lack of savings.

According to a new report from Charles Schwab, millennials spend more than other generations on comforts and conveniences like taxis, pricey coffee and dining out.

Sixty percent of millennials admit to spending more than $4 on coffee, 79 percent will splurge to eat at the hot restaurant in town and 69 percent buy clothes they don’t necessarily need.

Then there was this advice:

Here are the top three ‘stupid’ things millennials waste money on, says Shark Tank’s Kevin O’Leary

Here’s O’Leary’s advice to millennials about the top spending habits to quit, stat.

”$4 coffee. Incredibly stupid,” O’Leary told CNBC while at the World Government Summit in Dubai this week. “Look, I know I’m going to get hate mail from all the coffee brands, but coffee costs 18 cents to make yourself. Until you have savings and have paid off your college debt, do not buy a $4 coffee, I forbid you.”

And just for fun, let’s see what the finance and  investment website The Balance says:

How Millennial Spending Habits Compare to Other Generations

Generally speaking, millennials are bigger spenders than the generations before them, especially when it comes to dining habits, like eating out or buying expensive coffee. For example, 60% of millennials will buy a cup of coffee that costs more than $4, compared to only 40% of Generation X’ers or 29% of Baby Boomers.

Eating at a popular restaurant is another habit of millennials, with 79% polled saying they would spend money on doing so, compared to 66% in Generation X and 56% of Boomers.

Seems that all the evidence shows that millennials spend too much of expensive junk like coffee and jeans with holes in them and don’t put as much away for savings or as a down payment on their homes as they should.

I’ll be the first to admit that I have this issue too.  I have to remind myself to fill up my Costco Generic Yeti knockoff with ice tea from the house before running errands rather than by a soft drink when I’m out.  Or to pack snacks for the kids in the diaper bag and not get drive-through.

But I’m working on it and take responsibility for my spending.

Coming from a Bank, this is good financial advice.

Coming in the form of a Tweet, this hits millennials the most since 40% of Twitter users are 18-29 years old.

Millennial snowflakes couldn’t take the criticism of their lifestyle so accused Chase of “poor shaming.”

The self appointed Millennial “Yassss queen” Congresswoman Alexandria Ocasio-Cortez feel the need to chastise Chase.

You: Why is my balance so low?

Economists: Bc working Americans haven’t gotten a raise in 30 years despite unprecedented growth; & living costs have exploded.

Chase: Maybe if you skipped that Dunkin on April 22nd you‘d be able to afford your RX meds. That’s how that works right pic.twitter.com/i8bGowwomU

— Alexandria Ocasio-Cortez (@AOC) April 30, 2019

Except she’s wrong.

From The Wall Street Journal last year:

Wages Rise at Fastest Rate in Nearly a Decade as Hiring Jumps

And again from CNBC (MSNBC sucks but CNBC has good financial reporting):

Workers at the lower end of the pay scale finally are getting the most benefit from rising wages

The economy is booming.  The people suffering are the millennials who spent $200K on a gender studies degree and are the ones making $4 coffees for other millennials to show off on Instagram.

She can’t admit that though, because she needs people to focus on their non-poverty to push per socialism.

Remember, AOC is the woman who said she “never experienced American prosperity” as the daughter of an architect growing up in an upper middle class New York neighborhood.

As for her, a healthy young woman in her 30’s, her RX Meds are most likely birth control, which averages out of pocket $15/month.  So yes, if she skips one Dunkin a week, she’s got that covered.

Pretty much everything she said is wrong for the statistical majority of young Americans.

Chase is right and gave good advice.

The first rule when it comes to this kind of thing is “never apologize.”  They shouldn’t have to say sorry for giving sound financial advice.

Personally, I’d the bank to double down.

You: why is my bank account so low.
Bank account: because you owe a quarter of a million dollars for a degree that has you making lattes.
You: stop poor shaming me.
Bank account: you should be ashamed you got a Master of Arts in Social Justice from UC Berkeley.