‘We’re doomed anyway’: young people disheartened about the future are splashing out on the present
Source: The Guardian ·
Spending $8 on a matcha every day seems worth it when the alternatives – like saving for a house – feel virtually unattainableAn Tran treats herself to experiences like concerts and movie tickets.The 21-year-old Sydney law student, who is working towards paying her tuition fees, says many of her friends spend their spare money on matcha, Labubu toys and trending makeup items.Sign up for a weekly…
From the source
An Tran treats herself to experiences like concerts and movie tickets. The 21-year-old Sydney law student, who is working towards paying her tuition fees, says many of her friends spend their spare money on matcha, Labubu toys and trending makeup items. Tran, who moved from Vietnam two years ago, says she appreciates what she has in Australia but can understand why young people like her are concerned about the future. “We feel like we’re doomed anyway so why should we save?” she says. Young people feeling disheartened about the economy are choosing to spend their money in the present – regularly buying “little treats” such as takeaway coffees or even “doomspending” if it feels like there’s no point saving for the future. “If we believe in the future, we are much more likely to be able to defer gratification in the pursuit of it,” says brand strategist Eugene Healey. Healey says “little treat” culture – a pattern of consumer behaviour where people, especially younger people, buy…
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