Why is ‘doomspending’ on the rise? | Sean Monahan

If everyone is spending like there won’t be a tomorrow, there probably won’t be a tomorrow Doom is the prefix du jour. Doomscrolling, doomposting, doomsplaining, doomspreading. Doom joins other recent suffixes -maxxing, -pilled, and -slop – giving discussions about contemporary life an overtly negative cast. Doomspending, in particular, is a new term for spending frivolously with no concern for future financial consequences. It has become synonymous with the declining fortunes of young westerners. A survey by Credit Karma, a consumer fintech company, published in the fall of 2024, introduced the concept and the general parameters around it. Chronically online youth had begun coping with anxiety about the economy and world events with retail therapy. They claim 27% of Americans doomspend to deal with stress. The numbers rise to 37% of gen Z and 39% of millennials. Continue reading...

If everyone is spending like there won’t be a tomorrow, there probably won’t be a tomorrow

Doom is the prefix du jour. Doomscrolling, doomposting, doomsplaining, doomspreading. Doom joins other recent suffixes -maxxing, -pilled, and -slop – giving discussions about contemporary life an overtly negative cast. Doomspending, in particular, is a new term for spending frivolously with no concern for future financial consequences. It has become synonymous with the declining fortunes of young westerners.

A survey by Credit Karma, a consumer fintech company, published in the fall of 2024, introduced the concept and the general parameters around it. Chronically online youth had begun coping with anxiety about the economy and world events with retail therapy. They claim 27% of Americans doomspend to deal with stress. The numbers rise to 37% of gen Z and 39% of millennials.

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