Doom spending is a phenomenon that’s afflicting millennials and Gen Z-ers, but what exactly does it mean? And how do we stop doom spending? Vogue speaks to the experts to find out.
We’re all familiar with doom scrolling, but what about doom spending? It’s a phenomenon that’s afflicting millennials and Gen Z-ers, who are, unsurprisingly, overwhelmed by the multiple world crises that we’re currently facing. In many ways, it’s similar to the more familiar concept of retail therapy – although the fears that we’re trying to quell are arguably of a much greater scale than in the past.
“But because consumerism doesn’t really satisfy our needs, we go round and round, chasing trends… sleepwalking into regret purchases again and again.” How to stop doom spending Keep a spending diary Working out why you’re doom spending is crucial for kicking the habit. “You could use an ABC chart where each time you doom spend, you note down how you felt or what was going on for you beforehand,” Terrelonge advises.
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