Is scrolling through social media and seeing people’s vacation posts or luxurious lifestyles making you feel financially insecure?

However, in reality you’re just fine. You could be suffering from money dysmorphia. 

“This is an internet term, not a clinical one, but it describes a very real feeling of a rocky, warped relationship with one’s finances,” says Satrix head of brand, René Basson.

“Social media exacerbates feelings of inadequacy, making many people wonder why they can’t keep up. To grow in confidence about your financial journey, consider meeting with an adviser to establish an investment routine that suits you best.

“A social media scroll can make you feel as if ‘everyone’ is holidaying in exotic destinations, making you wonder why you’re falling behind – when in reality, you’re fine financially. Or, perhaps, you’re deep in debt but you keep chasing dopamine hits from purchases that stretch your finances further.

“A survey by Credit Karma found, 43% of Gen Z and 41% of millennials have experienced some form of money dysmorphia. These generations – notably known for digital savviness – seem particularly prone to financial insecurities. This can lead to irrational decision-making, which impacts future outcomes.

“The antidote? Having a solid plan in place and pursuing empowering patterns of behaviour such as investing.”