Generation Z, born between 1997 and 2012, is growing up in an unprecedented digital environment. Having dabbled in social networks from an early age, these digital natives are faced with a new form of social and economic pressure: financial dysmorphia. This growing phenomenon raises crucial questions about the impact of social media on the mental and financial health of an entire generation.
The term “financial dysmorphia” has its roots in the medical concept of <a href="http://www.world-today-news.com/facebook-and-instagram-wont-give-girls-cancer-but-it-can-still-kill/" title="Facebook and Instagram won't give girls cancer, but it can still kill”>body dysmorphia, a psychological disorder characterized by excessive preoccupation with a perceived or imagined physical defect. Analogously, financial dysmorphia manifests itself as a distorted and often negative perception of one’s own economic situation, even in the absence of real financial problems.
Renowned financial therapist Amanda Clayman says more in an interview with Business Insider: “Financial dysmorphia is characterized by persistent anxiety and a deep feeling of insecurity about money, which persists even when the person’s objective financial situation is stable or even favorable.” Platforms like Instagram, TikTok and Snapchat play a major role in amplifying this phenomenon.
According to a study conducted by Qualtrics for Intuit Credit Karmanearly 43% of young American adults report suffering from financial dysmorphia. Daily exposure to content featuring luxurious and seemingly unattainable lifestyles creates fertile ground for constant and often unfavorable comparisons.
“I started investing in cryptocurrencies without really understanding the risks, just because I saw influencers making fortunes overnight.”
Thomas, 25 ans
Sarah, 22 years old, student commun…
