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, CFP®, is Managing Partner of Spaugh Dameron Tenny, where he helps high-net-worth individuals and families navigate complex financial decisions with clarity, structure, and confidence. Since joining the firm in 2000, Shane has worked with clients through major financial transitions, including career changes, liquidity events, retirement, and multigenerational planning. His approach combines comprehensive financial planning with a focus on behavioral finance, including advanced studies in Behavioral Economics through the University of Chicago Booth School of Business. Shane is the author of Your Next Million, former host of the Prosperous Doc® Podcast, and a nationally recognized financial advisor, speaker, and educator.

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

Aug 19, 2024 8:30:00 AM

About The Author

Shane Tenny, CFP®