Many Americans believe social media provides an inaccurate picture of wealth and success; 57% of social media users say people post to appear more successful, and 51% of users say social media depicts “unrealistic lifestyles,” according to a 2023 Bankrate. survey.

However, many of them cannot help but be included in the cycle of comparison. Between 2022 and 2023, American adults spent $71 billion on “buy impulseThey were influenced to do so by social media, according to Bankrate data — a fact that supports a rise in “money dysmorphia.”

Connected: These 5 Money Secrets Can Turn Healthy Relationships Toxic, Financial Therapist Warns