2663: Breaking the Doom Spending Cycle by Sara Stanizai of Prospect Therapy on Developing Healthy Coping

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[00:00:40] This is Optimal Finance Daily, Episode 2663, Breaking the Doom Spending Cycle by Sarah Stanisay of Prospecttherapy.com

[00:00:51] And I'm your host and personal finance enthusiast, Diana Merriam. Now let's jump right into our next post as we optimize your life.

[00:00:59] Breaking the Doom Spending Cycle by Sarah Stanisay of Prospecttherapy.com

[00:01:10] It's 2024, even on a good day there's a lot to feel anxious about. There's the big picture, global warming, pandemic, human rights violations, inflation, uncertain job futures

[00:01:23] And that's not even considering individual stressors like difficult jobs or strained relationships. We all feel anxiety sometimes and we all have different ways to cope with it.

[00:01:33] For some of us, we like to get a little spendy. Enter Doom Spending. Whether it's impulsively buying items online or constantly seeking comfort in retail therapy, Doom Spending can become a harmful coping mechanism.

[00:01:48] In this post, we'll explore the connection between anxiety and Doom Spending. And more importantly discuss healthy coping strategies to break free from the cycle.

[00:01:58] What is Doom Spending? Doom Spending is a term used to describe the pattern of compulsive or impulsive buying driven by feelings of anxiety, stress, or a sense of impending doom.

[00:02:11] It's like a temporary escape, a quick fix that brings momentary relief but often leads to regret and financial strain. Late night Amazon purchases anyone.

[00:02:21] Identifying Doom Spending is the first step in addressing the underlying anxiety that fuels this behavior.

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[00:02:38] By understanding the multitude of ways stimming can manifest, we can foster a more inclusive and accepting environment for neurodivergent individuals and ourselves.

[00:02:49] The Anxiety Spending Connection.

[00:02:53] Anxiety can take many forms from generalized worries to specific fears or phobias. When anxiety becomes overwhelming, individuals may seek ways to cope and for some, spending money becomes a coping mechanism.

[00:03:08] The act of purchasing items might provide a brief distraction or a momentary sense of control but it doesn't address the root cause of anxiety.

[00:03:17] Doom Spending can create a vicious cycle. The initial anxiety triggers the impulse to spend, leading to guilt and increased stress over financial concerns.

[00:03:29] This heightened stress may in turn feel more doom spending perpetuating the cycle.

[00:03:35] Healthy coping strategies for anxiety. Breaking free from the cycle of doom spending involves developing healthier coping strategies to manage anxiety.

[00:03:45] Here are some practical suggestions to try before you next click purchase.

[00:03:51] Mindfulness and breathing techniques.

[00:03:55] Practice mindfulness and deep breathing exercises to stay present in the moment. These techniques can help calm the mind and reduce anxiety.

[00:04:04] Journaling.

[00:04:06] Keep a journal to express your thoughts and emotions. Writing can be a powerful tool for self-reflection and gaining clarity on the sources of anxiety.

[00:04:15] Therapy and counseling.

[00:04:18] Seek support from a therapist or counselor who can help you explore the root causes of anxiety and develop coping mechanisms tailored to your needs.

[00:04:27] Create a budget.

[00:04:29] Establishing a realistic budget can provide a sense of control over your finances. Knowing where your money is going can alleviate anxiety about financial uncertainties.

[00:04:40] Build a support system.

[00:04:43] Share your feelings with trusted friends or family members. Sometimes expressing your worries and fears can lighten the emotional burden.

[00:04:51] Engage in hobbies.

[00:04:54] Find activities that bring joy and relaxation.

[00:04:57] Hobbies conserve as healthy outlets for stress and redirect your focus away from doom spending.

[00:05:03] Set realistic goals.

[00:05:07] Break down larger tasks into smaller manageable goals. Setting realistic expectations can help reduce the anxiety associated with overwhelming responsibilities.

[00:05:18] Exercise regularly.

[00:05:21] Physical activity is known to reduce anxiety and improve overall well-being. Find an exercise routine that suits your preferences, whether it's walking, jogging, yoga or dancing.

[00:05:33] Practice gratitude.

[00:05:35] Cultivate a gratitude mindset by focusing on the positive aspects of your life.

[00:05:40] Regularly acknowledging and appreciating what you have can shift your perspective.

[00:05:46] Limit exposure to triggers.

[00:05:49] Identify and limit exposure to situations or environments that trigger anxiety.

[00:05:54] Whether it's news, social media or specific stressors, managing your exposure can make a significant difference.

[00:06:02] Breaking free from doom spending.

[00:06:05] Breaking the doom spending cycle is a journey that requires self-awareness, commitment and resilience.

[00:06:11] Acknowledge the connection between anxiety and spending and be compassionate with yourself as you work towards healthier coping mechanisms.

[00:06:20] Remember that seeking professional support is a sign of strength, not weakness.

[00:06:25] Therapists can provide guidance and strategies tailored to your specific needs, helping you navigate anxiety and find healthier ways to cope.

[00:06:34] In conclusion, understanding the link between anxiety and doom spending is a crucial step towards breaking free from this cycle.

[00:06:42] By adopting healthy coping strategies, individuals can develop resilience, manage anxiety more effectively and cultivate a more balanced and fulfilling life.

[00:06:56] You just listen to the post titled Breaking the Doom spending cycle by Sarah Stanisie of Prospect Therapy.com and I'll be right back with my commentary.

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[00:08:21] As a culture, I think it's been normalized to avoid feeling our feelings. We decompress at the end of the day with TV or we convince ourselves that we need a drink to take the edge off.

[00:08:34] But as with doom spending, all of our destructive coping mechanisms are simply distractions from feeling our feelings.

[00:08:43] And our endless distractions cause our discontent to build up under the surface over time, having a disastrous impact on our health and relationships.

[00:08:53] I think it's possible to find other healthier ways to self-soothe and to maintain perspective that despite our challenges, life is actually pretty good.

[00:09:03] Emotional resilience is a life skill that not only makes life more enjoyable, but you'll likely save a ton of money.

[00:09:10] When you're able to regulate your emotions, you're able to make better decisions, financial and otherwise.

[00:09:17] When I find myself overwhelmed, stressed or strung out, it's time for a pause.

[00:09:24] I take a walk, I take some deep breaths or I lay down for a yoga-needra meditation.

[00:09:30] I've learned to slow down and not make any decisions at the peak of emotion.

[00:09:37] I talk to a friend, spend time with my pets, take a bath, read and journal.

[00:09:43] My life is never going to be perfect, but I've learned to focus on the good as there's so much to be grateful for.

[00:09:50] And that's a wrap for another Thursday show, have a great rest of your day and I'll be back tomorrow as usual where your optimal life awaits.