{"id":813560,"date":"2026-07-21T03:42:11","date_gmt":"2026-07-21T03:42:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/813560\/"},"modified":"2026-07-21T03:42:11","modified_gmt":"2026-07-21T03:42:11","slug":"doom-spending-what-is-it-and-how-you-can-avoid-it","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/813560\/","title":{"rendered":"Doom spending: What is it and how you can avoid it"},"content":{"rendered":"

Money expert Robyn Thompson explains the \u2018doom spending\u2019 phenomenon and how to recognize it when you\u2019re shopping. <\/p>\n

With many Canadians overwhelmed by debt<\/a> and financial anxiety, one money expert is warning consumers about \u201cdoom spending.\u201d <\/p>\n

Robyn Thompson, a financial adviser and founder of Castlemark Wealth Management Inc., says doom spending isn\u2019t actually a shopping problem.<\/p>\n

\u201cIt\u2019s an emotional kind of buffer,\u201d Thompson said in an interview with CTV Your Morning last week. \u201cWhen you look at doom spending and you hear that word, it\u2019s easy to think about people clicking \u2018(add) to cart\u2019 and buying and buying and shopping. But the problem is actually much deeper than that.\u201d<\/p>\n

A top worry for Canadians is their finances, Thompson says, so they may turn to shopping for \u201ccomfort\u201d and \u201ccertainty.\u201d <\/p>\n

\"\"Doom spending how to avoid A person looks at their phone at Seattle\u2013Tacoma International Airport on Sunday, June 1, 2025, in Seattle. (AP Photo\/Jenny Kane, File) <\/p>\n

How do you prevent or stop doom spending? She said consumers can ask the following questions before making purchases:<\/p>\n

Is this purchase something that will provide long-term value for you?Did you think about this purchase beforehand, or is it only right now?Are you buying something because you need it, or are you buying something because you want some relief?<\/p>\n

She raised the concept of the \u201creturn on personal power\u201d as part of the solution.<\/p>\n

\u201cThe idea here is that everything that you do contributes to either increasing your value or decreasing your value,\u201d Thompson said. \u201cSo, when you\u2019re making a purchasing decision, you\u2019re either moving closer towards your longer-term goals or you\u2019re moving away from them.\u201d<\/p>\n

\"\"Woman shocked quality of clothing purchased online not what she expected One financial expert is warning consumers about ‘doom spending.’ (File photo) <\/p>\n

Thompson said it\u2019s important to understand the problem, identify the \u201cemotional pull,\u201d talk to a friend and take 24 hours before making a purchasing decision. <\/p>\n

\u201cDon\u2019t buy because you\u2019re bored, don\u2019t buy because you\u2019re overwhelmed. Buy because it\u2019s what you really want to do,\u201d she said. \u201cThis isn\u2019t about not spending; it is about intentional spending.\u201d <\/p>\n

\u201cYou\u2019re either funding your future, or you\u2019re financing your fear,\u201d she added. <\/p>\n

You can watch the video above for the full interview.<\/p>\n","protected":false},"excerpt":{"rendered":"Money expert Robyn Thompson explains the \u2018doom spending\u2019 phenomenon and how to recognize it when you\u2019re shopping. With…\n","protected":false},"author":2,"featured_media":813561,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[16159,64,63,99,186,184,185],"class_list":["post-813560","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-apple-news","tag-au","tag-australia","tag-business","tag-finance","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/813560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=813560"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/813560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/813561"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=813560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=813560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=813560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}