You May Be Suffering From 'Money Dysmorphia' — Almost One-Third Of Americans Are And Here's Why [Yahoo! Finance]
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NerdWallet, Inc. (NRDS)
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Source: Yahoo! Finance
One term that encompasses all of this is ‘money dysmorphia.' So, what is money dysmorphia? Don't Miss: Can you guess how many retire with a $5,000,000 nest egg? – How does it compare to the average? Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune — How much is that worth today? "Money dysmorphia is when you have a warped or distorted view of your finances," Danielle Desir, a personal finance expert and host of "The Thought Card" podcast, told HuffPost. "You see your financial situation much differently from your reality. Money dysmorphia can be caused by a variety of reasons, including past money trauma, societal pressures, economic crisis, or could be deeply rooted in childhood upbringing." A recent Credit Karma study shows that 29% of Americans experience money dysmorphia, and the problem is much greater for younger generations. About 43% of Gen Z and 41% of Millennials experience money dysmorphia, compared to 25% of Gen X and 14% of
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