Do you earn a good salary or have a large retirement pot but still worry that you don’t have enough money? If so, you could be suffering from financial dysmorphia — and you certainly aren’t alone.
Most people would be happy to earn £250,000 a year. But when Frank Frulio, a senior manager at the space services firm Spire Global UK, was told that he wouldn’t receive the £150,000 annual bonus he was hoping for, he took the firm to an employment tribunal. Losing his bonus, he explained, “created a sense of panic, knowing that I could no longer afford to work at Spire.”
Unfortunately for Frulio, the tribunal concluded that the bonus was not “properly payable” and dismissed his claim.
Regardless of whether Frulio deserved to receive his bonus, you may be surprised that anyone could claim that £250,000 a year is not enough to live on. It is, however, not uncommon, for high earners to consider themselves poor, or at least not particularly wealthy.
The Times, for instance, recently featured a successful business owner from West Yorkshire who feels she never has enough money, despite living rent-free in a farmer’s cottage with her husband and children, and owning three rental properties that, between them, generate an income of between £70,000 and £90,000 a year.
Surveys highlight a real problem
According to the Office for National Statistics, the median household income in the UK, after tax, was £31,400 in the financial year ending in April 2021. But a survey for the New Statesman two years later found that 59% of those with a household income of £80,001-£100,000 considered their earnings “about average”.
An HSBC survey published in February 2025 found that many well-off Britons still didn’t feel wealthy — despite their high incomes and ambitious goals.. On average, the report said, people felt that you need to earn £213,000 to be “wealthy”.
The perception gap is most pronounced among high earners. Although individuals earning £100,000 or more fall within the top 4% of UK income earners, just one in ten considered themselves wealthy. Those with the highest incomes estimated that it takes an annual income of £724,000 to qualify!
Similar to body dysmorphia
There is a name for this phenomenon in which people have a distorted or unhealthy perception of their financial situation: financial dysmorphia. It’s very similar to body dysmorphia, which involves a skewed perception of one's body image.
People who suffer from financial dysmorphia often obsess over saving or budgeting despite having more than enough. They may feel guilty after spending money, even on necessities. Even if they earn a good salary or have sizeable savings, they may feel like financial failures. Or they may rue what they see as missed investment opportunities.
Another common trait among financial dysmorphics is a tendency to measure their financial success against other people’s or unrealistic ideals.
What causes financial dysmorphia?
So what causes it? Unfortunately, financial dysmorphia is deeply ingrained in us. In our evolutionary past, scarcity signalled danger. Our ancestors were wired to focus intensely on shortages, like food or shelter, to survive. In modern times, that same mechanism can misfire, causing us to obsess over money, status or security, even when we have enough.
Financial dysmorphia can also stem from childhood experiences, especially for those who grew up in homes where money was scarce. Cultural or family beliefs about success and wealth are another contributory factor. Financial trauma — suddenly losing your income, or a large amount of money, for example — can make you vulnerable. So too can social media and the pressure to “keep up”.
How to overcome financial dysmorphia
Left unchecked, financial dysmorphia can lead to chronic stress, burnout, strain on relationships and poor financial decisions. So what can you do about it? Here are some suggestions:
Reality-check your finances Create a clear and honest snapshot of your financial situation. Use an online money management tool to view your savings, investments, pensions and other financial accounts in one place.
Set values-based goals Align your spending and saving with your personal values instead of arbitrary numbers.
Limit comparison triggers Unfollow or mute accounts that make you feel behind or inadequate. And remember, social media often shows filtered financial lives.
Work on your money story Reflect on the beliefs you inherited growing up — “ Money is scarce”, for example, or “I’ll never be good with money” — and question them.
Practise financial self-compassion Everyone makes “mistakes”, and there’s no one perfect way to manage money. You’re allowed to learn as you go.
Celebrate financial wins Even minor successes like paying off a credit card, sticking to a grocery budget, or increasing your savings rate deserve recognition.
Financial planning makes all the difference
However, the best way to overcome financial dysmorphia is to hire a financial planner who understands it, and who can work with you on a plan you can stick to.
Money dysmorphia often thrives on feelings — "I feel poor” or "I feel behind”, for instance — but a financial plan grounds you in facts. Working out what your goals are and ensuring you have enough money to achieve them can be hugely liberating.
A financial plan gives you a clear roadmap. Knowing you’re “on track” makes it easier to feel calm and in control. A plan can also build a sense of security, knowing that you have sufficient emergency savings and insurance coverage, and that your portfolio is broadly diversified.
A good financial planner also brings an outside perspective. They can spot distorted thinking and gently challenge you, and remind you that your fears are perfectly normal. They can also help you define what “success” looks like for you — and not for your peers, or social influencers.
Finally, a financial planner can help you focus on what really matters to you, set authentic and attainable goals, and track your progress over time.
Conclusion
In short, don’t feel guilty or out of the ordinary if you relate to any of these feelings. As we’ve explained, they’re perfectly natural. And the growth of social media has only added to the problem.
The good news is, there are ways to deal with it. And you’ll feel much calmer, and more fulfilled, when you do.
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