“YOLO Spending: The Psychology of Pandemic-Induced Indulgence”

When the pandemic hit, many people faced isolation, uncertainty, and fear for the future. In response, a curious trend emerged: YOLO spending—where people splurged on luxury items, thinking, “You only live once.” It wasn’t just about buying things; it was about the psychological shift that came with living through a global crisis.

Suddenly, life felt short and unpredictable. Many people who had been cautious with their finances decided to treat themselves, spending on things they had once considered out of reach. The pandemic made us question, “What if this is my last chance to enjoy life to the fullest?” The fear of missing out (FOMO) and the desire to reclaim joy led people to indulge in luxury goods—from designer bags to rare experiences—that symbolized personal success and the ability to thrive, even in tough times.

Psychologists say this shift is rooted in a scarcity mindset: when we feel that our time or opportunities are limited, we’re more likely to make choices that feel rewarding in the moment. And luxury items, often tied to status and comfort, became a way to assert control over our lives when so much felt uncertain.

In the end, the pandemic didn’t just change the way we lived—it reshaped how we viewed spending and luxury itself, making it a symbol of freedom and a reminder to live in the moment.