Young Adults Obsessed with Wealth, Experience 'Money Dysmorphia'

Social media pressures contribute to financial distortions, but new 'loud budgeting' trend offers hope for more frugal lifestyles.

According to a survey by Credit Karma and Intuit, 44% of Generation Z and 46% of Millennials are 'obsessed with the idea of being rich', compared to 27% of all Americans.
Many young adults are experiencing 'money dysmorphia', a distorted view of one's finances that could lead to poor decisions.
Social media and the rise of 'influencers' are contributing to these feelings, with young adults feeling the pressure to emulate the luxurious lifestyles they see online.
Despite these pressures, a new social media trend called 'loud budgeting' is encouraging young adults to live more frugal lifestyles and focus on their financial future.
Financial experts are advising young adults to focus on long-term financial goals, such as investing in their retirement, rather than chasing after immediate wealth.