Posted 1/29/2024, 8:32:00 PM
Money Dysphoria Distorts Finances for Many, Especially Younger Generations
- "Money dysphoria" refers to having a distorted view of one's finances that could lead to poor decisions, even among financially stable people
- 69% of people with money dysphoria feel they'll never be rich; 95% say it negatively impacts their finances and leads to overspending
- Gen Z/millennials feel behind financially; obstacle like debt, low wages, and high costs make building wealth difficult
- People think they need to earn far more than average to feel financially comfortable or wealthy
- Comparing oneself to others on social media exacerbates money dysphoria; the solution is to rely on hard financial data and realistic goals