Americans Turn to 'Doom Spending' Amid Election Uncertainty
TL;DR
A recent study by Intuit Credit Karma reveals that 27% of Americans engage in 'doom spending' to cope with stress, with higher rates among millennials and Gen Z. This behavior, driven by anxiety from bad news and a constant online presence, leads to impulsive purchases for short-term relief, despite long-term financial risks. Many feel they deserve to treat themselves amid global uncertainties, but experts warn of the negative financial cycle this creates.
- People Are ‘Doom Spending’ to Deal With the State of the World VICE
- The presidential election is prompting some Americans to 'doom spend,' report finds CNBC
- Americans say they're spending less, delaying big purchases until after election USA TODAY
- This Dangerous Money Habit Is Becoming More Common. Don't Be Tempted. HuffPost
- Post-election, CFOs should ‘focus on what they can control,’ advises economist Fortune
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