I don't know about more sensible... They're not buying cars, but they are blowing (based on the young people I know of in my area) tremendous amounts of money on smartphones w/expensive unlimited data plans, top of the line home Internet, expensive cigars, top shelf alcohol, and always going out to eat (and not just anywhere, but always the priciest places).
I know one particular (worse than the norm, but somewhat representative) young single guy making $10k more than I do that's struggling to get by. That's ridiculous. I estimate I save around 40% of my net income now, and I consider myself wasteful by spending money on my racecars and flying airplanes... He doesn't do any of those ugly expensive hobbies that I do. It's all bleeding out in phone, internet, and party bills!
