Does the daily news make you want to shop for sneakers on your lunch break? Does a stressful day at work inspire you to splurge on delivery food, snacks, or fancy coffee drinks? If you impulsively purchase things you didn’t plan to buy or “treat yourself” when you’re overwhelmed by stress, that’s doom spending. It’s a term that describes the emotionally fueled purchases that help us cope with feelings of anxiety, sadness, or hopelessness, especially during uncertain or challenging times.
According to a 2024 Credit Karma survey, more than a quarter of Americans report “doom spending” in response to worries over inflation, politics, and the cost of living. What’s more, younger generations seem to be more at risk, with 39% of Millennials and 37% of Gen Z admitting to the trend.
The Psychology Behind Doom Spending
Doom spending often starts with the brain’s natural reaction to stress. When we’re anxious or stressed, our brains seek out behaviors that release dopamine. Or, put more simply, our brains look for ways to feel better quickly. Spending money—especially on things that feel like treats—releases dopamine, the “feel-good” chemical, which provides a temporary emotional boost.
However, this quick fix doesn’t address the root of our feelings, and it can lead to guilt or financial strain later. The cycle of spending to escape stress, followed by regret and even more stress, can become a difficult pattern to break.
Doom spending is also fueled by a sense of scarcity or loss of control. When the world feels unpredictable, buying something can feel like a way to regain some control or add a small joy to life. Advertisements and social media make it worse, bombarding us with messages like “Treat yourself” or “You deserve this,” which encourage spending as a form of self-care.
Examples of Doom Spending
- Online shopping binges after bad news. You’re distressed about the economy, climate, or maybe a global event so you spend hours online shopping and adding items to your cart that you don’t need—like trendy gadgets, clothing, or home decor.
- Overindulgence in comfort purchases. After a stressful day at work or a particularly emotional conversation, you order WAY too much on DoorDash or fill your cart with junk food and luxury items like fancy cheese, ice cream, or ribeye steaks.
- Panic-buying during a crisis. You hear about an impending snowstorm, so you stockpile items—like generators, clothing, video games, or entertainment subscriptions—because you fear missing out or running out of supplies.
- Emotional spending on big-ticket items. You suffer a big breakup or lose a job opportunity you were really counting on, so you impulsively book an expensive trip, buy a new phone, or indulge in some trendy shoes to distract yourself from the pain.
- Social media-fueled impulse buys. You scroll through TikTok and see ads for trendy products or watch influencers promoting their latest “must-have” products. Without much thought, you click “Buy Now”.
- Overspending on hobbies. During the stress of the holidays, you invest heavily in hobby-related items like crafting supplies, collectibles, or gaming equipment.
- Retail therapy outings. After a tough week, you visit your favorite store without a plan or a budget and purchase things you like but don’t need in order to reset your mood.
How to Avoid Doom Spending
The good news is you can break the cycle of doom spending by becoming more mindful of your habits and emotions. Here are some strategies to help:
1. Pause Before You Purchase
When you feel the urge to buy something, pause for at least 24 hours. This gives you time to consider whether it’s something you truly need or just a manifestation of your emotions.
2. Create a Spending Plan
Budgeting doesn’t have to be restrictive. Set aside money for fun purchases so you can enjoy spending without guilt. Knowing your limits can help you avoid overspending.
3. Recognize Your Triggers
Pay attention to what makes you want to spend. Is it scrolling through social media, seeing a sale, or dealing with stress at work? Identify your triggers and use that knowledge to avoid situations that cause impulsive shopping.
4. Find Healthier Coping Mechanisms
Instead of turning to shopping for comfort, try alternatives like exercising, journaling, or talking to a friend. Activities that bring genuine joy or relaxation can reduce the urge to spend.
5. Unfollow Temptations
If social media ads or influencer posts lead you to shop impulsively, unfollow accounts or turn off notifications. Removing temptation makes it easier to stick to your goals.
6. Focus on Long-Term Goals
Remind yourself of your financial priorities, like saving for a trip, buying a house, or building a nest egg for retirement. Visualizing these goals can make it easier to say no to unnecessary purchases.
Doom spending is a normal response to difficult emotions, but it doesn’t have to overwhelm your finances. To avoid falling into a financial trap, learn what triggers doom spending for you. Use that knowledge to practice mindful spending habits and stay focused on what truly matters to you. Remember, real self-care isn’t about buying things—it’s about taking care of your mental, emotional, and financial health.
Want more financial tips?
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