“Doom spending” is the name of the trend that first emerged on social media. The term describes the idea of spending a lot of money in order to forget your personal worries and world-weariness.
27 percent of over 1,000 respondents said they engaged in doom spending. There are significantly more among younger people: 35 percent of Generation Z and 43 percent of Millennials report that they spend too much money. The idea that it's not worth putting money aside is wrong and can have dangerous consequences. Loans and credit can cause important life milestones such as marriage, home ownership and children to be postponed. Ultimately, “doom spending,” intended to ease the mood of crisis, lead to even more personal and financial crises.. “D doom spending’ to cope with stress: More and more young people are spending excessively to forget their worries. That can be dangerous. The dopamine that is released when shopping and creates a feeling of well-being is only short-lived.