Survey: 40 percent of millennials overspend to keep up with friends

SAN FRANCISCO (KGO) -- Keeping up with the Joneses isn't just a thing of the past. According to a new survey, it's a big trend affecting millennials.

It found that nearly 40 percent of millennials spent money they didn't have to keep up with their peers.

Bethy Hardeman, chief consumer advocate at Credit Karma, spoke to ABC7 on Tuesday about the key findings of this survey.

Click here to read more about this survey.