Tag

Financial Wellbeing

All articles tagged with #financial wellbeing

"Survey Reveals Alarming Prevalence of 'Money Dysmorphia' Among Young Adults"

Originally Published 1 year ago — by CNBC

A recent report by Credit Karma reveals that nearly one-third of Americans experience "money dysmorphia," a distorted view of their finances often stemming from comparing themselves to others and feeling inadequate, with younger generations being more affected. Despite above-average savings, those with money dysmorphia are obsessed with the idea of being rich. Another report by Edelman Financial Engines shows that only 14% of Americans consider themselves wealthy, and social media is exacerbating feelings of financial inadequacy, leading some to overspend. Experts recommend reducing social media usage and addressing the psychological aspect of financial satisfaction to combat these issues.

health personal-finance comparison financial-wellbeing money-dysmorphia personal-finance social-media wealth-perception

The truth behind JPMorgan, Wells Fargo, and Citi's resilience

Originally Published 2 years ago — by MarketWatch

Despite claims from JPMorgan Chase CEO Jamie Dimon and other bank executives that U.S. consumers are in good financial shape, evidence suggests otherwise. Consumer debt is rising, inflation is impacting food and rent costs, many Americans lack emergency savings, and student loan payments are set to resume in October. While corporate earnings may show some positive signs, the overall economic health of households is not accurately reflected. The idea of an "average consumer" is a myth, as financial situations vary greatly. Bankers acknowledge potential risks but emphasize that current conditions are a normalization rather than a deterioration. While the job market and consumer sentiment have improved, many households are still facing financial challenges.

business economy consumer-debt corporate-earnings economy financial-wellbeing jamie-dimon us-consumers