Personal Finance (Not Investing) • Are you suffering from money dysmorphia? Here are the signs. (Yahoo Finance article)

Interesting story. I've seen posts here for the better part of 15 years dealing with checking finances too frequently, comparing net worth, and feeling guilty about spending money even with millions in assets. While the story says it is not a "formally recognized psychological condition," I think a number of us struggle with this at some level - myself included

What do you think? Has this affected you and what have you done about it? Has anyone successfully work with a professional to ameliorate feelings of money dysmorphia and what was that process like?

Yahoo Finance: Are you suffering from money dysmorphia? Here are the signs.
Nearly a third of Americans experience money dysmorphia.
https://finance.yahoo.com/personal-fina ... 6087.html

Key takeaways:

• Money dysmorphia refers to a distorted perception of your financial situation that doesn't match reality. For example, money dysmorphia can cause stress and anxiety around spending money, even though you earn plenty to cover all of your costs.
• According to a 2024 study conducted by Qualtrics on behalf of Intuit Credit Karma, 29% of Americans experience money dysmorphia, with younger generations being more likely to report feelings of financial inadequacy (43% of Gen Z and 41% of millennials).
• It’s not a formally recognized psychological condition, the term is increasingly used to describe irrational beliefs or feelings about wealth, spending, or financial stability.

6 of the 7 signs of money dysphoria that the article discusses are things I've seen widely discussed on the board:

• Constantly comparing your financial situation to others (This is our main pastime )
• Constantly checking your account balances
• Constantly worrying about not saving enough money
• Avoiding spending any amount of money or making financial decisions because it causes you anxiety
• Feeling guilty or ashamed after spending money
• Feeling like you don’t have enough money

Here are just a few examples of the many discussions we've had related to this but before there was a name for it:

2010: Are you obsessed with your NET WORTH?
viewtopic.php?t=58518

2015: Bogleheads has made me obsessive about our money
viewtopic.php?t=157170

2019: Does money/lack of money preoccupy you?
viewtopic.php?t=282328

2020: Tips on how to stop checking finances too often?
viewtopic.php?t=311031

Statistics: Posted by Loandapper — Sun Jan 26, 2025 2:05 pm — Replies 8 — Views 1133

---