Dollars & Decisions: Doom spending & 5 ways to break the cycle
Closeup young man hands holding credit card and using cell, smart phone for online shopping or reporting lost card, fraudulent transaction
After a stressful day adding something to an online cart can feel like a small reward. It’s a habit known as “doom spending”- making impulse purchases to self-soothe, but it often leads to overspending and purchases we later regret.
Whenever you buy something, I think it gives you a sense of control. And when we are looking at the news and feeling stressed out, we often feel an extreme lack of control.
The relief is real—but temporary. Nerd wallet personal finance expert Kimberly Palmer, says buying something can briefly help people feel in control when the news, social media, or everyday life feels overwhelming.
One warning sign that you’re doom spending– charges that surprise you or purchases you regret.
One of the biggest signs that you are a doom spender is that you look back at your credit card or debit card statement and you see a lot of extra charges that either surprise you or you regret making.
To regain control, experts recommend five steps:
First, review your spending and identify the pattern.
Second, set a shopping rule—such as no purchases after 8 p.m.
Third, remove saved payment information or set app limits.
Fourth, wait 24 hours before buying nonessential items.
And fifth, replace the urge to shop with another stress outlet—like a walk, exercise, or calling a friend.
If you notice yourself often doom scrolling and doom spending at night, just giving yourself a new habit instead—whether it’s exercise, baking, calling a friend—something that makes you feel good without buying.
Experts say the goal is not to eliminate every treat or purchase—but to make sure spending is a choice, not a stress response.
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