Amidst an increasingly uncertain pace of life, global economic crises, and relentless social pressures, today’s younger generation faces a complex reality. Shopping often becomes a temporary escape from life’s pressures, offering a brief reprieve.
This phenomenon is known as “doom spending”, which is the tendency to buy things impulsively as a response to stress, anxiety, and uncertainty about the future.
This behavior no longer merely reflects a consumptive lifestyle. It also reveals the psychological complexity of how individuals manage their emotions, respond to social pressure, and seek self-validation.
In the post-pandemic era, doom spending has become increasingly common, especially among Gen Z and Millennials, who are navigating a storm of information and expectations.
But what truly lies behind this behavior? Can doom spending be considered a legitimate coping mechanism, or is it a subtle trap that quietly undermines one’s finances and mental well-being?
To explore these questions, identitas Hasanuddin University (Unhas) reporter, Marcha Nurul Fadila Jalil, spoke with a lecturer in consumer psychology at Faculty of Medicine Unhas, Elvita Bellani SPsi MSc, on Thursday (07/08).
How does a psychological mechanism drive someone to engage in doom spending?
We currently live in an era of economic and political uncertainty. This makes many people anxious about the future, causing them to constantly wonder, “What will happen to me?”
Anxiety and stress indirectly affect how we think and behave. When a person is stressed, they tend to focus on short-term concerns.
Moreover, stress can impair one’s ability to think rationally and make well-calculated decisions, causing one to act immaturely. As a result, people often choose instant gratification without considering the long-term consequences in areas such as spending habits, financial planning, and future investments.
Is shopping a coping mechanism? If so, why do people choose to shop instead of saving?
Indeed, doom spending can be categorized as a coping mechanism, a way for someone to reduce stress. Generally, coping mechanisms are categorized as either adaptive or maladaptive.
An adaptive mechanism is when individuals learn to recognize and manage their stress in healthy ways. In contrast, maladaptive coping involves behaviors that temporarily relieve stress but ultimately worsen one’s psychological state.
Clearly, doom spending falls into the maladaptive category of coping mechanism.
How much influence do social factors such as peer pressure, social media, and consumerist culture have in encouraging doom spending?
In fact, the influence of social interaction is relative. For instance, without social pressure, a person might not feel the need to purchase something.
Essentially, social and individual factors are interconnected. Without social influence, the urge to buy things might never arise. However, individuals with strong self-control can resist these urges, even when social pressures exist.
So, I do think social factors play a role, but each individual always makes the final decision.
Is doom spending more prevalent among younger age groups? What makes them susceptible to temptation?
Data shows that Gen Z engages in doom spending more often. While it’s difficult to pinpoint the exact reason, I suspect it’s related to their developing ability to regulate emotions.
I’ve also noticed that Gen Z tends to use shopping as a form of social proof, as if to show their peers that they can buy certain things.
Older generations, on the other hand, usually have a more mature understanding of this concept. They realize that excessive consumption isn’t a meaningful way to prove themselves.
What are the long-term effects of this habit on a person’s mental and financial well-being?
Actually, it depends on the extent. If this habit is done moderately, doom spending isn’t necessarily harmful.
Problems arise when a person loses self-control and falls into debt or relies on online loan services.
At that point, their financial health is clearly unstable, which will inevitably affect their mental health. The key is knowing our spending limits.
How can we tell the difference between healthy self-reward and destructive doom spending?
It’s all about balance. If your spending exceeds your financial capacity or sacrifices your future, that’s a red flag.
For example, taking out a loan means sacrificing my future to pay for today’s pleasures. That’s not good.
Therefore, we must avoid self-sabotage. As long as our spending doesn’t threaten our stability or our future, it can be considered reasonable.
What strategies can help individuals manage the urge to engage in doom spending?
I think self-awareness is key. If you know you’re prone to stress, it’s important to learn healthier ways to regulate it.
Similarly, if we realize that we often shop when we are stressed, then we should avoid situations that trigger this behavior. One way to do so is to avoid shopping malls.
The point is that everyone has weaknesses. It is important to be aware of our weaknesses and avoid the things that trigger them.
What is the most effective approach to teaching students and young people to be more financially and psychologically aware of this phenomenon?
Indeed, financial literacy is very important. Unfortunately, this fact is not widely known, nor is financial literacy formally taught, because people do not receive direct financial education.
Hopefully, Gen Z will become more aware of issues like overspending and educate themselves about personal finance and money management.
What message would you give to young Indonesians about how to deal with life’s pressures without getting caught up in doom spending?
Never sacrifice your future. Every decision carries an opportunity cost. When you choose to buy something, it means there are other expenses you must forgot.
Our resources, both time and money, are always limited. Therefore, every decision has consequences. Therefore, it is important to choose things that will not cause us to regret in the future.
Read the original article in Bahasa
About the Speaker:
Elvita Bellani SPsi MSc
Lecturer in Consumer Psychology, Hasanuddin University
Educational Background:
Bachelor of Psychology, Padjadjaran University
Master’s in Behavioral Economics, University of Warwick
Original Writer: Marcha Nurul Fadila Jalil
Translated by: A. Annida Mukaddas
