I'm seeing more and more doom and gloom in my bankruptcy practice. And I don't mean the usual, often overwhelming, stress of being financially underwater. The doom I'm referring to is the cause of financial problems.

It's called doom spending, a relatively new phenomenon experienced by many Americans, particularly the younger Gen Z and millennial generations. Doom spending is defined as spending money impulsively or excessively to tamp down negative emotions, like anxiety, stress, and feelings of hopelessness about the future.