DKC’s Post

Interesting piece I came across today, on the concept of "money dysmorphia": worry about money even when one's financial situation is stable and healthy. The article discusses how social media, combined with generation defining events like the GFC and pandemic have made young people particularly susceptible to this phenomenon. In my experience, even the ultra-wealthy can struggle with an inability to internalize their financial wellbeing. Part of the value of working with a finance professional is not only ensuring you don't run out of money, but sometimes more importantly, having someone give you the freedom to spend guilt free on the things that bring you joy. You don't win extra points in life making yourself miserable over every penny, especially when it's not necessary. https://lnkd.in/gP2VY9vJ

Great article. How you speak about money in your family can affect how your kids perceive and use money in their future.

Have you heard of doom spending – one of the latest trends shaping Gen Z shopping and saving behavior? A recent article in Fortune unpicks the trends, discussing how young people opt to spend money on travel and luxuries when things that were priorities for previous generations, like saving up to buy a house or start a family, seem unaffordable and out of reach. Our data reflects this and highlights the financial insecurity the generation faces, with over 50% of Gen Z worrying about their financial security – more than double that compared to other generations. Read the full story by Orianna Rosa Royle in Fortune: https://lnkd.in/drwXU9TS #doomspending #financialplanning #GenZ

Check out this article from GO Banking Rates, featuring Powerhouse Coach Suzanne Scullion!

Money Dysmorphia - a feeling of insecurity around your financial situation even when the true picture reveals little cause for concern. On the surface, this one is easy to dismiss. Can't blame you if think there are bigger issues in our world that need attention right now. That said, many who work in finance are well aware of the strong ties between money and emotion and will be quick to tell you that the struggle is real. Managing your finances often involves having a clear understanding of how you view money and how your noodle processes information about it. That's an introspective exercise that a good advisor can help you with. In the interim, if you find yourself feeling anxious, step away from the spreadsheet, the smartphone and the data. Then, breathe... Unless this anxiety is from a physical threat such as a punch by Tyson, a roundhouse by Messi, or a stage five clinger. In that case, throw your smartphone at said threat and run like hell.

Millennials face financial challenges unique to their generation. The good news is that by routinely practicing smart money management habits, Millennials can rise above those challenges. To get started, we put together some foolproof ways to start on the road to financial success.

Millennials face financial challenges unique to their generation. The good news is that by routinely practicing smart money management habits, Millennials can rise above those challenges. To get started, we put together some foolproof ways to start on the road to financial success.

Breaking stereotypes & simplifying financial jargons, no one can do it better than Priti Rathi Gupta A financial stalwart with over 2 decades of experience, she is paving the way for women all across the country to manage their own money. Join this Financial Fitness Masterclass to learn from Priti and get equipped with the basics of Money Management. When: Tuesday, 21st November, 2023 Where: LXME App Time: 6.30PM Download the LXME App now and Register https://lnkd.in/dZvTMCM2 #lxme #bootcamp #financegoals #moneymanagement #moneymatters #womenandmoney