Posted on 11/16/2021 9:31:21 AM PST by SaxxonWoods
People expect to spend more on holiday travel, celebrations and 'big ticket experiences,' such as concerts or sporting events, a MassMutual survey found.
It's the most wonderfully expensive time of the year, and people are expecting to spend big.
A new survey from MassMutual shows that consumers are feeling optimistic about their finances -- and are planning to spend $1,243 on average on holiday-related purchases this season. For comparison, the national median rent was $1,312 in October, according to a report from Apartment List.
The MassMutual Consumer Spending & Saving Index surveyed 1,000 U.S. adults online between Oct. 18 and Oct. 22, 2021.
The survey found that despite record-high inflation, 73% of Americans said they're feeling optimistic about their finances. Thirty-five percent said they're feeling "very optimistic" about their finances, up from 27% in July and 21% in February.
(Excerpt) Read more at morningstar.com ...
Personally I think we're in for a recession next year.
FJB
splurge, does that mean buying a turkey?
“Personally I think we’re in for a recession next year.”
Maybe so but recessions are good and necessary. They being even more opportunities so it’s OK if that happens. I’ve been through every one of since the ‘70’s, hasn’t mattered.
“Same as always, some people get out there and go for it, some sit on the sidelines and gripe that it can’t be done. Watched it for 50 years, it’s never changed.”
Nope, years ago we had a vibrant middle class. Now it’s the have and have nots.
“give broken down Brandon time to fix the supply chain problems as he swore he would.”
Brandon will fix nothing, but Americans will.
Another myth, ugh.
“It’s a great time to start a small business.”
Do not agree on the above. We have yet to see the full effects of inflation hit and at some point interest rates will begin the inevitable climb. Will it be like the 1970’s? Unknown right now but I can tell you I owned a small business which I started in Dec of 1970 and you had to be there to understand the slow grinding toll taken by what then was referred to as stagflation.
I survived it by laying off all the help and myself and my wife each working 80 plus hour weeks with no weekends off (it was a retail business). My business was in the most affluent area of Bergen County NJ which itself was mostly hi rent.
I hope you are right but it is too soon to tell.
this
I started working for myself in ‘76 and did great. The inflation was normal to me since I knew nothing else. Worked for myself ever since then, retired at 60 in 2009.
“Perhaps they know there dollars will be less each day going forward and have decided to spend them now while they can still buy something.
this”
Inflation does cause economic activity, deflation kills it. I prefer inflation.
I purchased everything and shipped it to everyone already, I am more worried that the products won’t be available, better to get them now I think supplies will be thin after Thanksgiving!!
Good work, you go Girl!
It is good to keep in mind that this was an online poll of a thousand adults, not registered voters or people likely to vote.
Like SaxxonWoods infers or says (and correctly so) not everyone is doing badly or has specific reasons for not being optimistic. That is certainly true. There are people who thrive in financial environments or situations that other people don’t. Not everyone is an accomplished investor, myself included.
I wonder what the percentage of folks is that will be impacted by the vaccine mandates that companies are setting (regardless of the outcome of any lawsuits on the government mandates). I know my company isn’t backing off. I suspect many of the big companies are looking forward to it as an easy way to reduce headcount. But are we looking at 5-10% of workers no longer having a job come January?
My point was...I don't get polled. And I don't think polls are news.
Not that I believe news anyway, ha!
“I wonder what the percentage of folks is that will be impacted by the vaccine mandates that companies are setting (regardless of the outcome of any lawsuits on the government mandates). I know my company isn’t backing off. I suspect many of the big companies are looking forward to it as an easy way to reduce headcount. But are we looking at 5-10% of workers no longer having a job come January?”
This is a great question and the outcome is uncertain. If people resist hard enough, the companies and the govt will have to relent or have a depression and closed companies for no good reason. Hopefully reason will prevail.
Nope ... not feeling it. But here’s my splurge:
My youngest daughter shipped out to USMC boot camp in January. Half way through, she was put in medical/recovery platoon due to an ankle injury. After a long time there, she went back to a training platoon only to injure the other foot. Ugh. They found out that she had a vitamin D deficiency and have been pumping her full of that to get her up to normal. She’s almost ready to back to training, but we haven’t seen her since Jan 3. Somehow, we’ve been granted a visit with her ... so that’s what I’m getting the family for Christmas. We leave next week and will spend 2 days there, get to visit her for a few hours each day, watch a graduation, tour the base, etc.
I need nothing else for Christmas this year.
She only has 3 weeks of training left, so we’ll be there again early next year for her graduation.
Thanks, and to your point, there are people who fail to thrive in the best of times, the worst of times, and in between.
They are the most noisy, so they get a lot of attention.
Nice, al_c, I hope she does fantastic! I’ve got a grandson and his wife who are ex-Navy and doing great in Washington. Second kid is in the oven. His machinist mate training helped him get a good job, Mom gets to stay home with the kid(s) so far. I wish your daughter every success!
Largely because of cautious budgeting and careful spending this household has more "disposable income" than ever, and yet remain seriously concerned about resources at hand and those under the fist of the liars and morons in Washington.
Screw the scoundrels and cheats talking large.
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