According to a study conducted in late-October by Qualtrics on behalf of Intuit Credit Karma, 27% of Americans are 'doom spending'-i.e. going shopping in order to cope, paradoxically, with economic fears.
'Many Americans spend money as a coping mechanism when they're feeling emotionally charged-whether they're looking to relieve stress, want to get their mind off something, want that dopamine hit, or want to feel in control of something,' says Courtney Alev.
Unlike those other economic worries, however, the election has an end date that can feel like a ticking time bomb the closer it approaches.
Respondents to the survey reported several concerns, including cost of living, inflation, unaffordable housing, and wage stagnation, indicating a broad spectrum of economic anxieties.
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