Doom Spending Rises Amid Election Anxiety and Economic Uncertainty
Originally Published 1 year ago — by CNN
Amid economic uncertainty and political anxiety, many Americans are engaging in 'doom spending'—impulse buying to alleviate stress, which can harm long-term financial health. This trend is particularly prevalent among Gen Z and millennials, who prefer immediate gratification over saving for an uncertain future. Despite a strong economy on paper, high living costs and negative online news contribute to this behavior, leading to increased credit card debt. Experts suggest self-awareness and alternative coping strategies to mitigate the impact of doom spending.