Nah, There’s No Inflation: Americans Spending $765 More A Month Than In 2020

(Springfield, MA) — Americans are spending more and saving less. That’s according to MassMutual’s Consumer Spending & Saving Index. It shows Americans are now spending an average of 765 dollars more a month in comparison to last year when most of the country was shut down due to the pandemic. A certified financial planner for MassMutual says younger generations seem to be in more of a hurry to start living their lives again to make up for the last year and a half. The data found Millennials and Gen Z are shelling out just over one-grand more a month on average compared to the summer of 2020. Despite this, MassMutual found 48-percent of Americans said they saved less than 500 dollars in the last three months, up from 36-percent in April.