I agree with you partly. While by age I’m considered a millennial, I do not use the term. I prefer the original term for my generation: Generation Y. Millennials are in my opinion the idiots of Generation Y, which sadly seems to be a majority.
Back on topic:
I try not to live outside of my means, but it is difficult when your paycheck gets ripped apart by taxes and the costs of even basic items is outrageous. However, even with that I still have saved up in my retirement and am decently above the average of my generation. A lot of the issue with millennials is that they don’t understand the difference between needs and wants.
My son employs numerous millenials. He can’t get them to save in their 401s even with matching contributions.