Money dysmorphia: the new financial disorder affecting millions

Shane Tenny, CFP®, authored an article for KevinMD.com about a new, concerning trend in society that has emerged: money dysmorphia. It’s the latest version of the comparison trap and aims to describe a distorted view of one’s financial situation and how one is doing financially. .

This condition is leading young people to overspend, take on more debt, hoard their income, and be less generous with their giving. Many millennials and Gen Z’ers grapple with the sense that acquiring wealth is necessary for their future comfort and happiness. However, the real issue is that they have more “Joneses” than ever to keep up with due to social media.

Check out the article on KevinMD.com here > KevinMD.com- Money dysmorphia: the new financial disorder affecting millions.

About The Author

Shane Tenny, CFP®

Shane Tenny is the managing partner of Spaugh Dameron Tenny. Along with hosting the Prosperous Doc® podcast, Shane has a true passion for behavioral finance, helping clients and audiences understand how to develop successful strategies based on their unique temperaments. An accomplished and highly engaging speaker, Shane is regularly interviewed for television and podcasts, is actively involved in the Financial Planning Association®, and contributes to industry advisory boards.

KevinMD.com - Money dysmorphia: the new financial disorder affecting millions

Aug 19, 2024 8:30:00 AM

About The Author

Shane Tenny, CFP®