Money Dysmorphia and Your Debt Problems
Few Americans enjoy math enough to choose to take more math classes than required to graduate. Ask a group of pre-med majors what they like and dislike about their field of study, and thy will tell you about their desire to heal the sick and their ambitions for well-paying jobs in the medical profession, but they will also admit that all the math classes and math-intensive science classes that pre-med majors have to take are tough. Anyone who made it through elementary school understands the concepts of greater than and less than, though. You can look at your bank account balance and see that it is greater than zero but that it is less than you would need to make a major purchase before your next paycheck comes in. It is not so easy to compare your bank account balance today or on payday to what other people have. Jessica Dickler of CNBC Finance refers to this phenomenon as “money dysmorphia,” the feeling that the money you have is not enough even though you are able to pay for necessities, and unrealistic assumptions about what other people in similar positions of employment to yours earn. If you are ready to address the mountain of debt that you have racked up in the effort of competing with imaginary rivals, contact a Plantation debt lawyer.
Screen Time Is Bad for Your Financial Health
Your parents might tell you that comparing yourself to other people will only make you miserable, but it is easy for them to say that, because they have had so much practice. According to CNBC Finance, approximately half of people under age 45 feel insecure about their income or their assets and assume that people of similar educational and professional background have more than they do. Therefore, they spend more money than they have in order to impress people, in order not to look like the losers that they feel like.
The Internet isn’t helping. Yes, the old generation had to contend with magazines where half of the pages were full-page ads for unaffordable commodities and TV shows where baristas can apparently afford to live in spacious apartments in New York City, but somehow today’s media make it worse. When you pick up your phone to set an alarm or respond to a text message from your mother, you are bombarded with notifications from mainstream news sites about how people your age with twice your income are broke, to say nothing of the YouTube shorts and Tik Tok videos by professional Stay at Home Girlfriends telling you that you are a chump for having a job at all, that they can make more money than you do just by existing. Disengaging from all the materialistic chatter, which has no basis in reality, anyway, is the hard part. Once you do that, it is easier to explore practical options for paying down your debts.
Work With a Debt Lawyer About Paying Off Your Debt
A South Florida debt lawyer can help you take a realistic look at your finances and strategize about getting out of debt. Contact Nowack & Olson, PLLC in Plantation, Florida to discuss your case.
Source:
cnbc.com/2024/03/13/nearly-half-of-young-adults-have-money-dysmorphia-survey-finds.html
