Never hesitant to rebrand an existing phenomenon, millennials and their Gen Z frenemies are admitting to having “money dysmorphia” – a feeling of insecurity around their financial situation even when the true picture reveals little cause for concern.

Some 43 per cent of Gen Z and 41 per cent of millennials say they suffer from a flawed perception of their finances, according to a recent Credit Karma study. While it might sound like just another form of TikTok-induced anxiety, money dysmorphia is a real problem that can cause someone to make poor or ill-informed decisions.

Bloomberg Opinion