For some, indulging in something sweet is a rite of passage. A daily ritual. The mean to feeling happiness, even if it’s temporary. While for others, it’s swiping their card, or handing a cashier a 20 dollar bill. An interaction that courses lightning through one’s veins, envoking a smile.
Similar to how a sugar rush ends in a crash, spending for the sake of temporary joy has its time limit.
Generation Z, specifically 12 to 27-year-olds, find themselves succumbing to this mental health “cheat code.” Time and time again, they can’t let go of that momentary adrenaline. And time and time again, their wallet suffers.
Social media: the puppeteer?
Observed on applications such as TikTok and Instagram, well-known influencers can often be found posting sponsored content. That, or it’s of their free will due to their own interests, or their account’s overarching theme. For instance, pages based on reviews of beauty products. This side of the platform, TikTok, is also known as BeautyTok.
On Instagram, the same formula is utilized for companies to cash in. Influencers and the brands themselves constantly push out ads to whoever is simply scrolling, hoping to hook at least one person. Word-of-mouth sure does get the job done, and so does engagement with the content itself.
Although they’re not all deceptive, there’s still an element of negativity. Consequently, it’s an echo chamber of the same trending products being put on display, continuing a vicious capitalist cycle.
Doom spending summed up
Doom spending refers to the act of purchasing something impulsively. Especially if that “something” is unnecessary. Referring to the earlier example, this can look like buying a new eye shadow palette that has the same color story as your last three. The only difference is that this “new” one has a slightly different shade of blue, or the packaging is pretty. This phenomenon notably occurs when someone is anxious or feeling down, making it a form of retail therapy. In other words, the buyer is experiencing a moment of doom, and so they spend money.
“I feel like spending money on smaller items rather than saving makes me feel a short-term happiness that fills my heart,” Sophie Yu, a freshman finance major at Penn State, stated in relation. “The feeling of spending money makes me extremely happy in the moment, but then after a while, I forget about it and satisfy that feeling again by buying more.”
Retail therapy vs. doom spending
With that, is doom spending just a modern regurgitation of retail therapy? While they appear to be similar on the surface, there are some differences.
For one, their emotional basis differs. Doom spending comes from experiencing dread or fear. Meanwhile, retail therapy stems from feelings of sadness. In real life, doom spending is observed when someone feels horrible about an upcoming election. Whereas, retail therapy occurs when someone failed a test and wants to feel better about it, even if it isn’t permanent.
The difference instance-wise comes from time. Retail therapy is, therefore, a one-off situation. On the other hand, doom spending is a continuous habit because feelings are largely temporary, while events are ongoing. Hence, the example of an upcoming election.
Financially, doom spending is not minute in comparison to retail therapy. While retail therapy can translate into an expensive purchase, doom spending’s repetitiveness truly racks up. This results in a lack of savings, making it extremely counterproductive due to the high amount being spent.
Is ‘doom spending’ really that bad?
As Yu explained, due to this emotional correlation, the act of doom spending is mainly negative. Especially right now, because in the United States, prices are rising due to tariffs. However, even before this instance, tapping into this mental reward system can be a dangerous game. While it’s healthy to be kind to oneself via positive reinforcement, needing to do so badly that it triggers negative feelings signals a nasty turning point.
Overall, Sophie Yu isn’t alone: According to Psychology Today, an American media organization with a focus on psychology, roughly 72% of Americans admitted to spending money based on their feeling negatively, whether that be the political climate or a driving force in their personal lives. Essentially, it creates this false sense of control. In actuality, they are acting on a psychological impulse that holds all the power.
The consensus? Refrain.
That said, although it’s temporarily a positive instance, the outcome is always negative. From a lack of saving for the future to feeling more miserable once the adrenaline dissipates, doom spending is unhealthy.
Everything considered, it’s best to shed this habit. Granted, doing so is easier said than done. However, nothing is impossible.
