DO YOU NEED A SPENDING REALITY CHECK?

WARPED PERCEPTIONS ABOUT MONEY COULD BE HAVING AN IMPACT ON YOUR FINANCES. VICKY SHAW LEARNS MORE

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IT’S the latest financial buzz phrase, and “money dysmorphia” is wreaking havoc on bank balances.

Put simply, it means having a warped view of your finances, where there’s a major mismatch between reality and perceptions of wealth. It can lead to out-of-control spending and mountains of debts.

Tinisha Graham, a money-saving expert at online budgeting tool IE Hub, says: “Money dysmorphia is a growing challenge, and it’s something many people are grappling with today, often without even realising it.”

HOW TO SPOT THE SIGNS

Tinisha explains: “It’s a reflection of the deep emotional ties we have to money, whether it’s fear of not having enough or avoiding financial truths.