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GIVING UP BIG GOALS
A lot of us feel like even if we save every single cent, we still won¡¯t be able to buy a house in ten years. This feeling is called ¡®economic fatalism.' When the big goals feel impossible, we choose small joys instead. As one researcher noted, people use spending to soothe their anxiety about things they can¡¯t control. So, instead of saving for an unclear future, we buy a $50 fancy pair of shoes to feel alive.
THE TRAP OF TIKTOK
Social media is a huge reason why we doomspend. We scroll through TikTok and see ¡®Get ready with me¡¯ videos or ¡®hauls¡¯ where everyone has the newest phones or the trendiest room decor. They call it self-care or treating yourself, which makes us feel like we need to buy things to stay happy. But this is just a quick dopamine hit. We might feel satisfied for a day, but then the money in our wallet is zero, and the stress about our future is still there.
To sum up, doomspending is how our generation copes with feeling hopeless about the economy and the future. We spend on small luxuries because we want to feel okay right now. But we have to wonder ¡®is it actually helping us?¡¯. Spending money might hide our fear for a minute, but it doesn't fix our lives. Maybe next time we are stressed, we should try talking to a
friend rather than going out for useless shopping.
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