There's a new trend in how young Americans are spending money, and it's not a good one. It's called Doom Spending—“mindlessly shopping to self-soothe due to a pessimistic outlook on the economy and their future.”

It's not news that stress leads us to spend. In fact, 96% of Americans are concerned about the current state of the economy, and more than a quarter are engaging in doom spending to cope with that stress.

What makes this particularly alarming is that “the current generation may be the first in a long time to be poorer than their parents." Doom spending creates a dangerous illusion of control in an increasingly out-of-control world. The stress of not knowing if they'll ever be able to afford a home leads some young adults to spend money they don’t have—like buying three cars instead of saving for the future.

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TAKEAWAY: Young adults are facing immense stress from economic uncertainty, and their coping mechanism has become reckless spending. But this isn’t the answer. We need to stop doom spending.

ACTION: To all my young women reading this—if you're doom spending, it's time to change course. This behavior will only lead to more debt, stress, and frustration down the road. We can't rely on short-term satisfaction to deal with long-term challenges. Instead, take small steps now to gain control of your finances and direct your dollars purposefully. Trust me—waiting five years to afford your luxury vacation in cash will be far more satisfying than being buried under interest payments five years later.


​Let’s tackle this together. I feel like this is going to be a podcast episode soon!