The world’s a mess right now. Americans are ‘doom spending’ about it.

YOU KNOW THAT FEELING YOU GET – THE ONE WHERE YOU’RE FEELING STRESSED OR ANXIOUS SO YOU BUY YOURSELF A LITTLE SOMETHING TO MAKE YOU FEEL BETTER?

YOU’RE DEFINITELY NOT THE ONLY ONE.

MORE AND MORE PEOPLE ARE “DOOM SPENDING” THESE DAYS.

DOOM SPENDING IS WHEN YOU SPEND MONEY TO QUIET YOUR CONCERNS ABOUT THINGS LIKE THE ECONOMY OR THE STATE OF THE WORLD TODAY.

A RECENT SURVEY BY INTUIT CREDIT KARMA FOUND MORE THAN A QUARTER OF AMERICANS (27%) “DOOM SPEND” TO COPE WITH STRESS – ESPECIALLY MILLENNIALS AND GEN Z-ERS.

37 PERCENT OF GEN Z-ERS SAY THEY DO IT…

AND 39 PERCENT OF MILLENNIALS DO.

AND 40 PERCENT OF PEOPLE SAY THEY DOOM SPEND MORE NOW – THAN THEY DID A YEAR AGO.

SO WHAT’S GOT PEOPLE SHELLING OUR CASH IN THE NAME OF SELF-SOOTHING?

FOR A LOT OF PEOPLE – IT’S CONCERNS ABOUT THE ECONOMY, EVEN IF THAT SEEMS COUNTERINTUITIVE.

THE SURVEY FOUND MORE THAN A THIRD OF PEOPLE (36%) SAY THEY CANNOT RATIONALIZE SAVING MONEY – BECAUSE OF THEIR UNCERTAINTY SURROUNDING THE WORLD AND THE ECONOMY.

THOSE FEELINGS ALSO IMPACT GEN Z (47%) AND MILLENNIALS (43%) MORE – WITH NEARLY HALF OF EACH FEELING THAT WAY.

IT COULD ALSO EXPLAIN WHY ABOUT 1 IN 5 (19%) PEOPLE HAVE NO SAVINGS AT ALL.

THE STATE OF THE WORLD RIGHT NOW HAS GOT 44 PERCENT OF AMERICANS FEELING PESSIMISTIC ABOUT THEIR FINANCIAL FUTURES…

WITH ABOUT THE SAME AMOUNT SAYING THEY’VE JUST GIVEN UP ON REACHING CERTAIN FINANCIAL MILESTONES – LIKE SAVING ANY MONEY, PAYING OFF DEBT, OR UPGRADING THEIR LIVING SITUATION. 

AND IT SEEMS THING ARE ONLY GETTING WORSE – ALMOST 3 OUT OF 4 PEOPLE SAID THEY’RE MORE WORRIED ABOUT THE STATE OF THE WORLD NOW… THAN THEY WERE A YEAR AGO.

IN FACT, 1 IN 10 AMERICANS SAY THEY HAVE QUOTE “ZERO OPTIMISM” FOR 20-25.