Revenge spending

Revenge spending is the money you drop to make up for lost time, so to speak. It's the big vacation you book to make up for the trips you missed last year, or the new furniture you buy after putting up with your getting-on-in-years sofa during the pandemic.

And while a little splurging after months of careful saving (or unwilling saving, because there wasn't much to spend on) is perfectly understandable, going overboard as a sort of self-comfort or revenge for everything you gave up in the last year can hurt you in the long run.

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Have the Urge to Splurge Post-Pandemic? It’s Called Revenge Spending—Here’s How to Avoid It

realsimple.com

The fear of missing out (FOMO) can influence how people spend their money and motivate them to buy things they can't afford. If you feel peer pressure to spend in ways that are beyond your means, try thinking of cheaper alternatives or minimize your social media screen time to avoid overspending.

Slow yourself down, too, especially if dreaming of your out-and-about future has you clicking add to cart with a vengeance. If you feel the urge to buy something non-essential, remove yourself from the situation and write the desired item and cost down to revisit for consolidation later.

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