Q1 2024 MassMutual Consumer Spending and Saving Index

This research report presents findings from the Q1 2024 MassMutual Consumer Spending and Saving Index, commissioned by MassMutual and conducted by PSB Insights. The study involved a nationally representative sample of 1,000 U.S. adults and an additional sample of 500 Massachusetts residents. The report outlines the current economic outlook, revealing that Americans have less concern over day-to-day finances compared to the previous quarter, with a noted increase in optimism among Baby Boomers and Gen X. It documents a decline in recession fears and highlights inflation as a continuing concern for personal finances. The report also examines the impact of the upcoming U.S. presidential election on financial outlooks, particularly among different generational groups. Additionally, it details parental spending behaviors regarding summer activities and the financial resolutions of Americans for 2024, noting generational differences in financial planning and execution. Overall, the report provides a comprehensive view of consumer sentiment and financial behaviors in early 2024.