Amid inflation and climate concerns, younger generations, including Gen Z and millennials, are turning to 'doom spending,' buying luxuries as they find homeownership increasingly unaffordable.
As inflation and economic uncertainty intensify, compounded by growing concerns over climate change, a new financial behavior known as "doom spending" has been taking root among younger generations over the past few years. This trend, predominantly observed in Gen Z and millennials, reflects how these individuals manage their finances amid fluctuating economic conditions and an increasingly unpredictable environmental future.
RELATED: Gen Z American details 'struggle to survive' in viral rant: 'I cannot afford to live'A recent viral video featured a frustrated Gen Z American detailing his "struggle to survive" and manage the costs of everyday items."Can somebody explain to me in crayon-eating terms why I make over three times the federal minimum wage and I cannot afford to live?" the user named Nic started to say.
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