Poll reveals pessimistic outlook in Mass.

The Boston Globe reports that residents of Massachusetts don't have a positive outlook on the economy. Recent fluctuations in the stock market, rising inflation and unemployment, and the collapse of several major financial institutions are the likely factors contributing to the pessimism.

Suffolk University and The Boston Globe collaborated to conduct a poll on the attitudes of Massachusetts residents responding to the current economic conditions. The results were tallied before the House or the Senate voted on the bailout plan and before the subsequent days of extreme volatility in the stock market.

Even before any decisions on the rescue plan presented by Henry Paulson had been made by congress, a full 41 percent of those polled said they believed the economy would get worse in the coming year. Only 21 percent were optimistic that the economy would improve.

One particular response recorded by the poll seems to illustrate the challenging economic conditions facing Massachusetts residents. A large number of people responding indicated that although they are trying to cut back on their purchases, they have spent more this year than last year.

Such information suggests that although Massachusetts residents are making fewer discretionary purchases, the cost of necessary items such as food, clothing, and gas has risen considerably since last year. As a result, it becomes harder for households to get ahead because cutting back on unnecessary items will not always translate into savings, and savings are important for a feeling of overall economic health.

To read the Globe article, click here.

--Bridget O'Sullivan

Inside Consumer United :: Noelle Sevoian

Noelle Sevoian joined Consumer United in 2008 to work in the marketing department. Being a part of the CU team has inspired Sevoian to think differently about what it means to save money. “Less is more” is her money saving motto, she says. “More stuff will not buy us happiness, but with less, we can focus on the things that really make us happy. Spending less will put more in the bank, too.”

Consumer United can help that savings grow, she says, because as more consumers band together, they will help negotiate even better deals. “This is extremely important due to the rising cost of living.”

In addition to the contributions she makes at Consumer United, Sevoian is an up-and-coming entrepreneur. She started a company that sells vegan granola bars called Noelle’s Bars. She is also a student at Suffolk University where she sings a capella.

Though she will be returning to school in the fall, she will continue as a member of the Consumer United team. “I love the workplace dynamic,” she says. “Everyone is so different and each person has something positive to bring. I love the environment. We are growing so fast and working hard to increase that growth. So far it’s going very well.”

--Bridget O'Sullivan