Q4 2024 MassMutual Consumer Spending and Saving Index

This research report, commissioned by Massachusetts Mutual Life Insurance Company, presents findings from a survey conducted by PSB Insights among 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, highlighting that inflation remains a primary concern for Americans, although there is a noted decrease in concern compared to the previous year. The report details personal finance considerations during the 2024 presidential election, with a significant portion of Americans indicating that their financial situation influenced their voting decisions. Additionally, the report discusses consumer sentiment regarding holiday spending, revealing that many Americans plan to maintain their spending levels compared to the previous year. The report also examines financial security, noting that a substantial number of Americans have consulted financial advisors and the impact of financial security on personal happiness. Lastly, it addresses the perceived effects of AI on financial savings and the influence of natural disasters on financial habits.