Money Dysmorphia: How to Overcome Your Financial Distortions (Episode 197)

Updated: June 4, 2024

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What you’ll hear in this episode:

Money dysmorphia refers to insecurity about one’s financial situation. It is a condition that distorts one’s perception of wealth and financial well-being.

In this episode, we explore how money dysmorphia influences our spending, saving, and investing. But we also share the steps we can take to achieve a healthier, more realistic view of our finances, paving the way for better financial decision-making and emotional well-being.

What are the Causes of Money Dysmorphia?

  • Comparison Trap
  • Instant Gratification
  • Fear of Missing Out
  • Hidden Costs
  • Your Mindset

What’s the Cure for Money Dysmorphia?

  • Track Your Spending
  • Budget Wisely
  • Set Realistic Goals
  • Practice Gratitude
  • Seek Support

Excerpts and Highlights

A person suffering from money dysmorphia has a distorted view of their finances. You could be earning a decent paycheck, but you still feel like you’re barely scraping by. Or maybe you’ve got some savings tucked away, but you’re always worried about the future.

Social media can make money dysmorphia worse. It’s easy to feel like you’re falling behind, even if you’re doing just fine.

You might feel like you’re missing out on life if you’re not constantly spending money on experiences or things.

If you constantly think you’ll never have enough, you might end up sabotaging your own financial success.

Instead of comparing yourself to others, focus on your own financial goals.

Gratitude can help shift your perspective from scarcity to abundance.

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