Doom Spending
The Illusion of Control
A lot of people end up spending money even when they know they should not.
But why?
When we feel a lack of control (like when our finances are out of control and the banks keep adding fees and interest) it causes us to feel a lot of anxiety. This is a feeling that can build up over time. And we all know that anxiety or ongoing stress is not good for us.
Now, there are a lot of good ways to deal with stress and anxiety, from doing exercise, to confiding in friends or spending time with pets and family.
‘one way that you can trick your brain into feeling more in control is by buying things’
Unfortunately, one way that you can trick your brain into feeling more in control is by buying things. Spending money is tricky way to feel powerful. To feel important. To feel in control.
Obviously, this is not a good idea when you don’t actually have any money but it does offer the illusion of control. A short term boost in our morale.
What is Doom Spending?
You have probably heard of “Doom Scrolling”.
If you haven’t, it is when you get caught on social media just scrolling through video or image after image unable to stop. You check your phone for a moment and before you know it hours have passed and you feel exhausted even though you have just been lying in bed or sitting on the couch.
So, what is doom spending?
Doom spending is when you spend money to ease anxiety about bigger issues (like the economy or war in the middle east) in the aftermath of doom scrolling. We do it in an effort to take back control through spending.
A study recently revealed that 27% of Americans shop to deal with stress, and that number jumps up to 37% for Gen Z Americans. These patterns are also common in South Africa where so many people spend their free time on social media and the news.
Doom spending is now becoming a common problem in South Africa.
How To Avoid Doom Spending
When you scroll social media or read news article after news article, we are exposed to countless adverts in between all that content. It’s how they cover their costs.
This is another reason why we feel the urge to take back control by spending, because we have been seeing tons of adverts while doom scrolling.
If you find you are feeling anxious due to things you are seeing in the news or feeling bombarded by a ton of reels, then why not cut back on social media over the holidays?
Try plug back into reality and the world around you and the people around you.
It can give you a break from doom scrolling, and it helps you avoid the hundreds of advertisements hidden within that content that could lead to doom spending.
