Getting To Know Doom Sharing, A Phenomenon That Becomes A Shopping Ghost

Get to know good (freepik) spending

YOGYAKARTA - In the midst of the rise of online shopping trends, a phenomenon has emerged that we should pay attention to, namely spending. Being a habit of impulsive spending is increasingly common, let's get to know further spending.

Despite providing temporary satisfaction, this habit can have a negative impact on our finances and well-being. Let's discuss more about this phenomenon, as well as the various impacts that can be caused.

Reporting from US News, "cheamful spending" refers to the frightening phenomenon that occurs when people spend money dealing with stress.

Despite concerns about the economy and foreign affairs, according to a 2023 study by Qualtrics on behalf of Intuit Credit Karma.

For example, you may be worried because you don't have enough money to pay bills, save, and have fun.

As a result, you may go through saving and shopping impulsively to make yourself feel better.

Now the phenomenon of ending is trending in the US. Almost everyone Americans (96%) are worried about the current economic situation and two-thirds say that it makes them anxious, according to the study.

Some of the most pressing stressors include inflation, the inability to buy basic necessities, debt, and lack of money to spend on things that bring happiness.

Before continuing, also read the article discussing Knowing Vertical Integration System in Logistics Services

The phenomenon of spending itself can be understood, because the cost of living has increased by 20.8% since 2020.

"I believe that with inflation increasing so much over the past few years, people are desperate because their salaries don't go that far. They have given up on achieving their goals and are just trying to survive but want to pamper themselves in any way they can," explained Kendall Meare, certified financial planner at SoFi.

Cate added that credit card and interest rates debt had also increased, so debt payments cost most of people's disposable income.

In addition, the emergence of social media can exacerbate feelings of inadequateness or FOMO (fear of missing out), and encourage individuals to shop in an effort to follow the social norms they feel.

While understandable, spending on dealing with financial stress can quickly lead to downward spirals.

In 2023, about a third of Americans reported an increase in debt and nearly half said their savings balance had eased.

Financial experts recommend a 50/30/20 budget framework to address spending. This figure means 50% of revenue is allocated for important expenses, 30% for discretionary spending, and 20% for long-term savings or destinations.

In this way, you can have fun while still achieving your financial goals. In addition, it is important to recognize emotions that encourage impulsive expenses and develop healthier ways to deal with them.

You need to get used to useful behaviors such as bill payments and savings, so you don't have to rely on discipline every month.

For entertainment, consider cheap or free activities such as utilizing libraries, walking in parks, listening to music, or watching videos on YouTube.

Apart from getting to know endings, follow other interesting articles too. Want to know other interesting information? Don't miss it, keep an eye on the updated news from VOI and follow all the social media accounts!