The presidential election is prompting some Americans to ‘doom spend,' report finds [CNBC]
NerdWallet, Inc. (NRDS)
Company Research
Source: CNBC
In some ways, the urge was “born out of the pandemic,” said Ted Rossman, a senior industry analyst at Bankrate.com. Here's what to do if you plan to “doom spend” anyways. Retail therapy is thinly coating voters' anxieties from the presidential election — and their wallets know it. About 27% of polled shoppers say they are “ doom spending ” — that is, spending cash despite concerns about the economy and foreign affairs — according to a new report by Intuit Credit Karma. The habit is more prevalent among younger generations, with 37% of Gen Zers and 39% of millennials saying they do it. Follow Election 2024 live updates: Trump and Harris await Presidential election results More than half, or 60%, of Americans surveyed are concerned with the state of the world and economy, more than they were a year ago. The site polled 1,001 U.S. adults in late October. Top worries among doom spenders include the cost of living (55%), inflation (43%), and the presidential election (28%), th
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