Do you suffer from ‘money dysmorphia’? Experts weigh in on the financial distortion

Earlier this year, a survey from Credit Karma made quite the splash: Approximately 45% of Gen Z and millennials are obsessed with the idea of being rich, and more than 40% of these demographics experience something called “money dysmorphia.” Which begs the question: What is money dysmorphia?

In short, the concept entails having a distorted view of your finances.

If you log into TikTok these days, you’ll see there’s no shortage of videos covering the topic. Joyce Marter, LCPC, financial therapist and author of “The Financial Mindset Fix: A Mental Fitness Program for an Abundant Life, says money dysmorphia has become a common struggle, especially for Gen Zs and Millennials, and now it’s being driven largely by social media.

As Dasha Kennedy, founder of the Broke Black Girl and a National Debt Relief financial wellness board member, puts it, money dysmorphia is a powerful reflection of how the pressures of social media and the constant need for validation can distort our relationship with money.

 

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