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‘Money dysmorphia’ traps millennials and Gen Zers
Mixed signals about the economy have made it tough for some younger adults to know where they stand financially.
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When you start with a pessimistic assessment of your own future, it is hard to imagine that your finances will improve in the normal course of your life and career, says the writer.
PHOTO: REUTERS
Erin Lowry
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Never hesitant to rebrand an existing phenomenon, millennials and their Gen Z frenemies are admitting to having “money dysmorphia” – a feeling of insecurity around their financial situation even when the true picture reveals little cause for concern. Some 43 per cent of Gen Z and 41 per cent of millennials say they suffer from a flawed perception of their finances, according to a recent Credit Karma study.
While it might sound like just another form of TikTok-induced anxiety, money dysmorphia is a real problem that can cause someone to make poor or ill-informed decisions.
