From Fortune:

Summary: Feelings of envy and inadequacy are being stoked by social media, leading to unhappiness over financial status. Millenials and Gen Z are feeling the most pressure, with 45% preoccupied with being rich. Financial stability is eluding many, leading to a feeling of underperformance, termed “money dysmorphia.”

Summary: Money dysmorphia is leading many to make poor financial decisions due to a distorted view of their own finances. Keeping up with others is leading to mental health issues, and no matter how well-off a person is, they may still experience this disorder. It’s time to start focusing on personal financial situation rather than comparing to others.

Summary: Despite facing extreme financial hurdles, millennials and Gen Z still feel the need to earn over 300% more than the average worker. These groups also feel the most pressure of those surveyed, with 69% of money-dysmorphic people thinking they’ll never be rich and 95% saying their obsession negatively impacts finances.

Summary: Money dysmorphia is exacerbating mental health issues and causing feelings of inadequacy. However, keeping track of one’s own finances and setting realistic plans is the way out of it. A realistic view of celebrity lifestyles is also necessary – one that includes potential hidden debt.



Read more: What is ‘money dysmorphia’: Gen Z gets its ‘keeping up with the Joneses’