Why Americans Are Feeling The Money Squeeze

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Is Your Fear of Rising Prices Is Making You Spend Like the World Is Ending ?

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You’re Feeling the Money Squeeze — and It’s Real

If you’ve been hitting the store more often or making big purchases lately, you’re not alone. According to a new survey by CreditCards.com, 1 in 5 Americans are “doom spending” — making purchases because they’re afraid of what’s coming next. The fear of rising prices is driving people across the country to spend now before things get worse.

You’re Stocking Up Because It Feels Safer Than Waiting

Since November 2024, 37% of Americans have started stockpiling, and another 14% plan to start soon. Why? Simple: fear. Over 50% said the fear of rising prices was a major reason for their buying spree.

You might recognize these commonly stockpiled items in your own home:

🥫 Food (74%)
🧴 Personal care items (60%)
🧻 Toilet paper (48%)
💧 Water (47%)
🏡 Household goods (43%)
💊 Medical supplies and over-the-counter meds (26%–39%)
🔫 Firearms or ammunition (13%)

This behavior cuts across party lines, too. More Kamala Harris voters (44%) reported stockpiling compared to Trump voters (31%), but fear was a shared driver.

You’re Making Big Purchases Before Prices Climb Higher

Nearly half of Americans (48%) say they’ve made a large purchase over $500 since November 2024. The items range from:

📱 Electronics (22%)
🧰 Home improvement materials (18%)
🧺 Appliances (14%)
🚗 Cars (12%)
🛋️ Furniture (12%)
🏠 Homes (4%)

Again, the fear of rising prices is pushing you (and many others) to buy now. In the survey, 36% said it was a major factor in their decision, while 22% said it played a small role.

Even political views don’t stop this trend. 67% of Harris voters and 51% of Trump voters said their big spending was motivated by fears about inflation and economic instability.

But Spending to Feel Safe Can Be a Risky Move

Let’s be real — you’re trying to protect yourself and your family. But financial experts warn that “doom spending” can backfire.

John Egan, a personal finance expert at CreditCards.com, says:

“While it makes sense to stockpile certain items, only buy what you actually need and will use. Otherwise, you might wind up overspending.”

This type of emotional spending is also linked to rising debt. The survey found:

28% of Americans think they’ll either go into credit card debt or their current debt will get worse in 2025.
9% said that’s very likely.

If you’re using your credit card to stay ahead of inflation, you could be digging a deeper hole without realizing it.

Here’s How to Fight Back — Without Breaking the Bank

💡 Pause and ask, “Do I really need this?”
Fear is real, but so is regret. Think twice before every purchase.

💳 Use cash when possible.
Swiping your card makes it feel like you’re not spending. But that bill adds up.

💵 Build a small emergency fund.
Start with just $5 or $10 a week. It gives you peace of mind without panic buying.

📦 Only buy what you’ll actually use.
Don’t fill your pantry with 6 months of canned peas if no one eats them.

Doom Spending Is a Symptom — Not the Solution

If you feel overwhelmed, you’re not alone. But fear of rising prices doesn’t have to control your wallet. Get informed, spend smart, and focus on what really brings peace — not just full shelves.

📊 Read the full CreditCards.com survey here:
👉 https://www.creditcards.com/statistics/1-in-5-americans-are-doom-spending-as-economic-uncertainty-rises/

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You’re not powerless. You’re just preparing — now let’s do it wisely.

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