Do you have MONEY DYSMORPHIA?

It means a distorted image of your financial situation and it can affect anyone – from super-scrimpers to overspenders, explains Caroline Bloor

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Does it feel as though you never have enough money - even if you do? Or are you splurging on a lifestyle that, in reality, you can’t afford?

If so, you may be affected by a modern form of anxiety known as money dysmorphia. Google searches for the term were up almost 2,000% in the UK over the past 12 months*. It's derived from the term body dysmorphia, where someone becomes obsessed with perceived flaws in their appearance. Money dysmorphia can cause feelings of panic around money, along with anxiety and irrational financial behaviour.

What are the signs?

+ Obsessively checking your bank account

+ Constant anxiety about not having enough money, even when secure

+ Feeling guilty or stressed after spending

+ Assuming everyone's doing better than you

+ Panic-saving or hoarding money

+ Overspending or extreme frugality

+ Prioritising earning over wellbeing or relationships

+ Undervaluing your financial position

If that sounds like you, you're not alone. A distorted view of your financial reality could be an emotional coping mechanism driven by the cost-of-living crisis, our social media comparison culture or deep-rooted financial beliefs.