Money Dysmorphia
Money Dysmorphia is a condition affecting nearly 50% of Generation Z, characterized by an unrealistic perception of their financial situation, leading to constant anxiety and vigilance about finances despite no real financial problems. This anxiety is exacerbated by intense mental pressures, significant reliance on parental support, and unrealistic comparisons on social media platforms like Instagram. Gen Z faces unique challenges, including a decline in traditional pension plans and increased self-funding for retirement amid rising living costs and inflation. Addressing money dysmorphia requires improving financial education, providing mental health support, encouraging realistic financial goal-setting, and promoting healthy attitudes towards money management.
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