Are you suffering from a money problem? Here are the signs.

We all have a unique relationship with our finances shaped by our upbringing, culture, generation, and more. These influences can change our perception of our money and influence our choices – sometimes negatively.

When a person has a distorted or unhealthy perception of their financial situation, this can be considered a form of “financial dysmorphia.” Although it is not an officially recognized psychological condition, the term is increasingly used to describe irrational beliefs or feelings about wealth, spending, or financial stability.

If this sounds familiar, you may be wondering if you suffer from financial dysmorphia. Learn more about the signs and symptoms, and what to do if you have them.

Draw parallels with a mental health condition Body dysmorphic disorder (BDD) – Commonly referred to as body dysmorphia – financial dysmorphia refers to a distorted perception of your financial situation that does not match reality.

For example, a financial imbalance can cause stress and anxiety about spending money, even though you earn enough to cover all your costs. Or it may lead you to overspend and get a distorted view of what you can really afford.

According to 2024 He studies Conducted by Qualtrics on behalf of Intuit Credit Karma 29% of Americans have a poor financial makeup, with younger generations more likely to report feelings of financial inadequacy (43% of Gen Z and 41% of Millennials).

Financial dysmorphia does not manifest itself in the same way in every person. Some key indicators that may indicate that you are suffering from financial dysmorphia can include:

• Avoid checking your bank account balances, or constantly checking your account balances

• Maximize your credit cards

• Constant worry about not saving enough money

• Avoid spending any amount of money or making financial decisions because they cause you anxiety

• Feeling guilty or ashamed after spending money

• Feeling like you don’t have enough money

• Constantly compare your financial situation with others

Read more: A poll showed that most Americans are dissatisfied with their savings

Regardless of how financial distortion appears, the consequences can be severe and far-reaching.

“The reality is that a flawed financial structure can hold people back in both personal and financial ways,” said Han Lim Kim, a licensed clinical psychologist at Clarity Therapy NYC. “You may lose or hurt your relationships by avoiding spending on activities with friends and family and missing out on the fun associated with these interactions. You may hoard cash or keep money only in a savings account, missing opportunities to invest appropriately.”

There is no single root cause of financial dysmorphia. Knowing how to combat it will require you to do some work to figure out where the disconnect lies between the state of your money and your relationship with money.

If you think you may be suffering from financial dysmorphia, there are some steps you can take to work on the problem.

Pay close attention to your feelings about money. Notice the situations in which you feel the most anxiety. Does checking your bank account balance cause anxiety? Do you feel instant regret after making a purchase?

Identifying the moments when irrational or unjustified feelings arise around money can help you develop the right strategies to ground yourself and adjust your perception.

Having a budget and a clear idea of ​​your income and expenses each month can give you peace of mind and allay any fears you may have about being able to cover your expenses each month or saving for the future. Set aside time each month to review your account balances and track your progress toward future goals so that any feelings you have about money are based on facts.

Read more: Your guide to preparing the 2025 budget

Negative thoughts about money can lead you to adopt a scarcity mindset. Kim suggested reframing those thoughts to view your financial situation in a more positive light.

“Thoughts like ‘I’m bad with money’ or ‘If I go out to dinner tonight, I’ll never be able to retire’ can be reframed by examining the facts and creating a more balanced perspective,” she said.

Alternatively, these negative thoughts can be modified to “I haven’t learned how to budget yet, but I can start now,” or “This restaurant may be out of my budget, but I can suggest a less expensive option instead.” He explained.

Financial advisors aren’t just for the wealthy; They work with all types of people from different economic backgrounds. Talking with a professional can help you get a clear idea of ​​where your money stands and create a plan to achieve your goals, which may ease your financial worries.

Read more: What is a financial advisor and what do they do?

“I worked with a client who told me that even though he knew he was going to be fine financially, he always woke up every morning with a pit in his stomach that something terrible was going to happen,” said Michael Lerch, chief operating officer. Advising and planning for Wells Fargo. “Although this served him as he started and built his business, he realized that it was interfering with his ability to enjoy retirement and family. The underlying issue was that he did not have a goals-based plan.

Together, they created a plan that outlined his client’s goals, assets and spending patterns, then projected that over time, Lerch explained. “This segment ensured that the technical aspects of his financial life were covered,” he said. “But he also needed to feel psychologically safe.”

Lerch said seeing the plan in digital form gave his client peace of mind each morning, knowing that if it went off track, he would know immediately so he could take action. “This eases his mind so he can live his life.”

Read more: 5 psychological financial tricks to reduce spending and increase saving