What The Elle - 💡 What is “money dysmorphia”?

Plus, a workshop giveaway and the big headline of summer 2024.
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TIME TO THRIVE

Get face-to-face with your finances

 

Whether you spent your summer splurging or saving, post-summer money clarity can feel overwhelming.

Maybe you’re staring at a bulky credit card bill detailing a week of pricey poolside drinks and duty-free indulgences that you can’t necessarily afford.

Or maybe you’re starting to feel a little regret about holding back this summer — even if your finances would have allowed it.

It’s pretty common to feel divorced from the reality of your finances. (It’s even more common in the summer, when you just want to chill out and forget about what your bank account looks like.) According to Credit Karma, 43% of Gen Z and 41% of millennials reported experiencing some form of “money dysmorphia.”

That’s the internet’s non-clinical diagnosis for a condition that can plague people of all financial states. It’s when you have a warped sense or understanding of your own finances — which then, in turn, leads to irrational, vibes-based decision-making.

Like overspending on TikTok Shop when you should really be putting money toward your student loans. Or, on the other hand, denying yourself simple indulgences even though you can afford them because you can’t shake your money anxiety.

There’s no better time than fall to get face-to-face with your finances and start taking control of your money. We put together a little guide to money dysmorphia — with tips on how to fend it off.

Read the explainer
 

UNSOLICITED ADVICE

“The advice I’d give to people who have struggled, like me, to spend money they actually have, instead of what they’re scared of not having, is that a financial scarcity mindset is hindering their ability to thrive.”

Writer Lola Mendez on struggling with what she calls “wage dysmorphia.” Ready to take her advice and thrive? Explore some high-level, flexible methods with a financial planner to make room for the fun stuff.

 
 
 

FEELING SPENDY?

An impulse buy here and there is harmless, but it shouldn’t be a habit. Read how you can practice intentional spending.

Get the guide >

 

CAN’T. BE. STOPPED.

Women were the headline of summer 2024. Here’s our CEO’s take on how women used their power to live freer, realer lives.

Read and subscribe >

 

ATTEND FOR A CHANCE TO WIN A TOTE

Our new, free workshop goes over the basics and benefits of financial planning — plus, how we do it differently at Ellevest.

Register for workshop >

 
Text that reads, “maybe the real brat summer was the credit card debt we gained along the way.”
 

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This newsletter was brought to you while working by the pool. Forward it to your friends who defy expectations.

DISCLOSURES
 
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
© 2024 Ellevest, Inc. All Rights Reserved.
All opinions and views expressed by Ellevest are current as of the date of this writing, are for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.
Information was obtained from third-party sources, which we believe to be reliable but are not guaranteed for accuracy or completeness.
The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice.
The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.
Investing entails risk, including the possible loss of principal, and past performance is not predictive of future results.
Ellevest, Inc. is a SEC registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Ellevest fees and additional information can be found at www.ellevest.com.
 
 
 

Older messages

😵‍💫 The “M-word”

Thursday, August 22, 2024

How women are using their financial power to demand the world act like menopause exists. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌

🔥 Not “fine for now”

Tuesday, August 20, 2024

Plus, mini-retirements, sexy menopause, and how to find the right financial planner. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏

🥇 When “gender parity” isn’t enough

Thursday, August 8, 2024

Plus, volatile markets and menopause in the workplace. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏

🥐 Unfiltered money advice

Thursday, August 1, 2024

Plus, post-divorce confidence, a calculator for splitting expenses, and behavioral finance. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏

🏆 Get off the bench

Thursday, July 25, 2024

Plus, how you can go for gold with a financial planner. ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏ ‌  ͏

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