Do you constantly feel broke, even when your bank account is healthy?
Do you obsess over minor purchases, even when you’ve got the option to afford them?
What is money dysmorphia?
On one end, write down your goals: Where do you want to be financially?
On the other end of the paper, write down where you are now.
Now, your task is to bridge the gap between these two points.
Create a timeline: What different goalposts will help you connect these dots?
For instance, say you want to save $5,000 in anemergency fund.
Your closest goalpost may be to save $50, then $100, and so on.
On top of these goals, what behaviors do you oughta implement so you can save those amounts?
Maybe its ordering fewer Lyfts, orlearning how to meal prep.
Track your spending in detail.
See exactly how much is being spent on needs versus wants.
This gives you concrete data to counter the feeling that you’re broke.
Automate saving and investing.
Set up automatic transfers from each paycheck into savings and investment accounts.
Examine recurring costs for subscriptions, memberships, and services you rarely use.
Trim expenses that don’t provide much value.
Don’t measure your financial progress against others.
Stay focused on your own goals and needs.
Note milestones like paying off a debt, reaching a savings target, or making wise investments.
Allow reasonable, affordable treats without guilt.
Monitor excessive financial anxiety.
Don’t let money control your life.
Finally, Bryan-Podvin emphasizes the importance of accountability.
As Ive previously covered, were not as immune tofinancial peer pressureas we like to think.
Saying your goals aloud to people whose opinions you value makes a huge difference, Bryan-Podvin says.
If you find yourself struggling, seek support.
Reach out to afinancial therapistlike Bryan-Podvin.
With time, a money dysmorphia mindset can be retrained.
The right strategies and professional support can help your perceptions align better with financial reality.
