This study analyzes Consumer Expenditure Survey data from 2004 to 2023 to investigate cohort effects on expenditure in categories strongly associated with present orientation: food away from home, entertainment, alcohol, and tobacco. We use Ordinary Least Squares regression, logistic regression, and Tobit regression models and control for a rich set of individual and household sociodemographic characteristics in the analysis. Our findings reveal generational differences that are neither monotonic nor consistent across all categories. This indicates that present orientation in spending does not simply increase or decrease across generations. Instead, it manifests differently in each cohort depending on cultural norms, economic conditions, and shifting societal values.
