Doom Spending? Not Cool!

Hey, Pramita friends! Have you ever been tempted to overspend beyond your budget? This phenomenon is known as doom spending. It often occurs when someone feels stressed, bored, or seeks instant gratification through shopping. Unfortunately, its long-term effects can be detrimental to financial health.

What Is Doom Spending?
Doom spending refers to impulsive shopping behavior that typically happens when you're in a bad mood. It can be triggered by stress, anxiety, or social pressure from those around you. As a result, many people end up spending money on things they don’t really need.

Why Is It Dangerous?
Overspending without a plan can impact your financial well-being. Mounting credit card bills, shrinking savings, or even increasing debt are likely consequences. Additionally, this habit can exacerbate stress, creating a vicious cycle that’s hard to break.

How to Avoid It?
The first step to avoiding doom spending is recognizing its triggers. Are you shopping because you’re stressed? Or just to pass the time? Try redirecting your attention to other activities like exercising, reading, or engaging in productive hobbies.

Create a shopping budget and stick to the financial plan you’ve set. Remember, shopping is okay as long as it's for things you truly need, not just want.

Conclusion
Doom spending can be harmful to your financial health. Control your impulses, identify your triggers, and craft a solid financial plan to live life without financial worries.