NEW YORK – Millennials are falling victim to what Bankrate.com calls “common financial vices,” such as spending money in coffee shops, racking up bar tabs or frequently dining out.

According to a new study from Bankrate.com, the average millennial dines at a restaurant or buys take-out food five times per week and 29% of millennials say they buy coffee at least three times per week.

"Often, it's the minor, habitual expenses, such as take-out and alcohol, that wreak havoc on your budget," said Sarah Berger of Bankrate.com. "Small steps, such as preparing meals at home and brewing your own coffee, can add up to big savings over the course of a year."

Overall, Americans are doing a better job with “financial vices.” The survey found that 59% of Americans say they don't purchase any brewed coffee or tea in a typical week, 73% say they don't buy alcoholic drinks at bars or restaurants each week and 40% of Americans say they buy take-out or dine at a restaurant no more than once per week.

However, millennials have different spending habits than their elders. Bankrate.com found that 54% of younger millennials eat out at least three times per week, compared to 33% of Gen Xers and 32% of Baby Boomers. In addition, 42% of all millennials and 51% between the ages of 21-26 typically go to a bar at least once a week, versus 24% of Gen Xers and 19% of Baby Boomers.

"A recent survey conducted by Bankrate.com measuring Americans' emergency savings showed that just 16% of younger millennials have saved the recommended six months' worth of expenses. Money saved from packing lunch and passing on lattes would be a smart investment in building that emergency fund," Berger added.