Money dysmorphia: why people think they're poorer than they are [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance
A CEO has taken his former employer to court, claiming he could no longer afford to work on a salary as low as £250,000, prompting fresh discussion of "money dysmorphia". A "sibling" of the term "body dysmorphia", where people look in the mirror and don't see "what's really there", money dysmorphia is a "mind-bending split-screen view of reality", said The New York Times Researchers have found that people are much more likely to underestimate their earnings than to overestimate or have a realistic assessment of them – a study from HSBC suggested that most British people typically underestimate their earnings by 30% relative to others. "More interesting still", wrote Helen Coffey for The Independent , the highest earners "have the biggest blind spot". Nine out of 10 workers on £100,000 or more do not consider themselves "well off", despite the fact that such a salary "immediately puts you in the top 4% of the UK". Money dysmorphia is a "relatively new concept", but many people
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