shoptalk
Money Dysmorphia
/ˈmə-nē dis-ˈmȯr-fē-ə/
A nagging insecurity about one’s finances — even when one is on solid footing — that is most prevalent among Gen Z and millennials.
This article is part of Shop Talk, a regular feature that explores the idioms of the business world: the insider jargon, the newly coined terms, the unfortunate or overused phrases.
Flashy cars. Five-figure handbags. Island vacations.
With the steady stream of conspicuous consumption on social media, it may be easier than ever to feel that you’re always on a beer budget, even if you can afford a bit of champagne.
And there’s a name for that: “money dysmorphia.”
This term, while not entirely new, has been ricocheting around the internet as a way to describe people’s often complicated relationship with money. It borrows from the term “body dysmorphic disorder,” a mental health condition that causes a person to obsess about a perceived physical flaw.
Money dysmorphia (not an actual diagnosis) refers to someone who is irrationally insecure about finances. That mind-set, financial planning experts say, can lead to money missteps including overspending or risky investments.