cnnespanol.cnn.com
Doom Spending on the Rise: How Anxiety Fuels Compulsive Buying
Doom spending, or compulsive buying fueled by anxiety, is rising among consumers due to economic and political uncertainties. Experts advise self-awareness and alternative coping methods to avoid long-term financial consequences.
Spanish
United States
PoliticsEconomyUs PoliticsHealthLifestyleAnxietyConsumerismSpending
CnnWheaton CollegeCredit KarmaAxiosThe Harris PollGallupBrookings InstitutionBankrateFederal Reserve
Kelsea PalmCourtney AlevDonald TrumpKamala HarrisAja EvansSertan Kabadayi
- How can consumers curb doom spending?
- To curb doom spending, experts recommend self-awareness of spending habits, disconnecting from the constant online news cycle, and adopting alternative coping mechanisms like exercise or socializing.
- What factors contribute to this behavior?
- Factors contributing to doom spending include economic uncertainty, high inflation affecting food and housing costs, and the constant stream of negative news online, amplified by social media.
- What is doom spending and why is it increasing?
- Doom spending, or compulsive buying during times of stress, is increasing among consumers, particularly Gen Z and millennials, due to anxieties about the economy and politics.
- How did the 2024 election influence doom spending?
- The 2024 election played a role, with consumers' spending habits influenced by their political affiliations and feelings about the election outcome; regardless of outcome, many may spend to cope with stress or celebrate.
- What are the long-term consequences of doom spending?
- While doom spending offers temporary emotional relief, it poses a long-term financial risk, increasing credit card debt and potentially worsening financial instability.