Doom spending among Gen Z has become a term frequently discussed on social media and is often associated with a consumerist lifestyle in the digital era. Amid the rapid flow of trends and online lifestyles, shopping habits can easily form without being fully realized.
So, what is doom spending and why does this phenomenon occur so often? Read the explanation below to understand its definition and general overview.
What Is Doom Spending?
Doom spending is the habit of spending money spontaneously as a response to emotional pressure, such as anxiety, mental exhaustion, or uncertainty. This situation often arises after someone is exposed to negative news or is in a bad mood.
Without realizing it, shopping becomes an outlet to seek temporary relief. The items purchased are often not essential needs, but merely a way to momentarily improve one’s mood, even though it may risk disrupting financial stability.
This behavior often goes hand in hand with doom scrolling, which refers to the habit of continuously consuming negative news or content on social media. Such exposure can reinforce pessimism and ultimately encourage more impulsive spending.
Causes of Doom Spending
To understand why this habit occurs, it is important to look at the factors that drive someone to engage in doom spending. Below are some of the most common causes often found in everyday life:
1. Anxiety or Uncertainty
When someone feels their life is out of control, shopping often becomes a quick way to feel like they are managing something. Buying items provides momentary satisfaction and a sense of control, even though the underlying issues remain unresolved. This habit can lead to continuous spending without considering long-term consequences.
2. Social Media Influence
Platforms like Instagram and TikTok often make users want to follow trends to appear stylish or successful. Seeing others showcase certain items or lifestyles can make someone feel compelled to imitate them, even if it does not align with their needs or financial capacity. This drives impulsive spending without proper planning.
3. Stress or Depression
When someone feels sad, stressed, or emotionally pressured, they may seek escape through shopping. Purchasing something can provide temporary happiness and improve mood, even though the core problems have not been resolved.
4. Discounts and Promotions
When many stores or brands offer large discounts or attractive promotions, people are often tempted to buy items they do not actually need. These offers make shopping feel like a good deal, even though they can increase unnecessary expenses.
Impacts of Doom Spending
Doom spending can have serious consequences on daily life. Below are some common effects that arise from excessive spending habits:
1. Decline in Mental Well-Being
As expenses continue to increase due to excessive shopping habits, the ability to save or invest also decreases. This phenomenon is known as the doom spending effect, where impulsive spending disrupts financial stability. As a result, long-term financial plans can be affected, making it harder to prepare emergency funds or achieve financial goals.
2. Financial Stress
Ironically, shopping to relieve stress can actually create new stress related to finances. Uncontrolled spending traps individuals in a vicious cycle, where emotional stress triggers spending and spending increases financial stress.
3. Accumulating Debt
Uncontrolled expenses often tempt individuals to use credit cards beyond their means. As a result, debt accumulates and credit card interest further increases the financial burden, disrupting everyday financial stability.
How to Overcome Doom Spending
To prevent doom spending from continuing, it is important to learn how to manage expenses more wisely. Below are some steps that can help overcome excessive spending behavior:
1. Set a Spending Budget
Creating a monthly expense list helps track where money goes. By setting limits for necessities and entertainment, and allocating a portion for savings, financial management becomes clearer and expenses more controlled.
2. Identify Emotional Triggers
One way to recognize doom spending is by identifying what usually triggers the urge to overspend. For example, work-related stress, worries about the future, or influence from friends and social media content. Being aware of these triggers makes it easier to respond when the urge to buy arises.
3. Practice Mindful Spending
Mindful spending means being aware of every purchase before making it. When considering buying something, a person evaluates whether the item is a priority or just a momentary desire. With this habit, impulsive spending can be reduced and money management becomes wiser.
4. Use Financial Management Tools
Financial management apps allow individuals to monitor every expense they make. Some apps even provide weekly or monthly summaries, showing which spending categories consume the most money. This approach makes it easier to recognize spending habits and assess whether expenses are appropriate or need to be reduced.
5. Create Alternative Activities
Instead of shopping when feeling stressed or anxious, finding alternative activities can be a better way to calm oneself, such as light exercise, practicing meditation, or simply chatting with close friends. These activities provide emotional relief without increasing expenses.
That is an explanation of doom spending, from its definition to ways to overcome it. Applying strategies such as budgeting, mindful spending, and alternative activities can help maintain healthy finances and reduce emotional stress.
Organizing finances properly is key to preventing excessive spending behavior. Careful planning makes individuals more prepared to handle unexpected expenses without being tempted to buy items they do not actually need.
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