Lifestyle
Are You the Only One Who’s Broke? Or Is It ‘Money Dysmorphia’?
On Instagram feeds, martini glasses clink in what feels like a never-ending loop. Photo carousels from nights out show low-lit steakhouses, tartare and soufflés, Luxardo cherries. (What, in this economy, is screaming Luxardo cherries?) A roommate’s random co-worker is somehow lounging on yet another cabana in yet another tropical bathing suit. (Who owns that many bathing suits?) A co-worker’s random roommate is inexplicably trying out a new Bitcoin-powered bathhouse.
Just one click away is the news: flip-flopping on tariffs that could hit iPhones, T-shirts, backpacks and toothbrushes. There are wildly zigzagging red lines on market charts and somber television newscasters with panicked voices talking about retirement savings, which is angst-inducing even for people decades away from retirement.
“Phone-eats-first type of food, whatever viral sweater is going around on TikTok, the new work bag,” said Devin Walsh, 25, who lives in New York and works in marketing, listing the tempting purchases that flit across her Instagram, even, stubbornly, this past week. “Meanwhile, everyone is referencing the Great Depression.”
It’s a dizzying time to be a 20-something inundated by social media feeds flashing other people’s trips and restaurant reservations, which feel more over-the-top than ever, thanks to what trend forecasters call the “boom boom aesthetic.” It’s a recent embrace, by fashion labels, influencers and ordinary spenders, of lavish old-money consumption, like Gordon Gekko-inspired suits and endless (once verboten) furs.
Many young people are plagued by pangs of economic self-doubt, telling friends or therapists that they can’t keep up with the Joneses (and what the Joneses are posting on Instagram). Others are struggling to save, and then making impulse buys that leave them feeling anxious or guilty, that spending hangover from an “oh why not” pair of shoes.
“You see a social media post and you’re like, ‘Maybe I’m doing something wrong,’” said Veronica Holloway, 27, a data analyst who lives in Chicago. “Like somehow I must be being irresponsible if I’m not able to spend like this.”
The resulting unease is leading to what financial planners call “money dysmorphia.” A sibling of the term “body dysmorphia,” meaning people who look in the mirror and do not see what’s really there, it refers to people who have a distorted view of their own financial well-being. It’s a mind-bending split-screen view of reality.
“You’re in a position where you don’t believe you have enough money, even though the numbers say you’re OK,” said Aja Evans, a financial therapist with some clients who struggle with dysmorphia. “It’s easy for people to create a narrative around what they’re seeing online — they’re like, ‘Oh my God, everyone is going away for spring break, I’m the only one who is staying home.’”
These perceptions, unhinged from reality, lead some to hold back on spending unnecessarily. It could lead others to overspend, sometimes enabled by “buy now, pay later” technologies; the average Gen Z consumer holds roughly $3,500 in credit card debt, according to data from Experian. A 2024 study conducted by Qualtrics found that nearly a third of all Americans reported feeling money dysmorphia, including 43 percent of Gen Z.
For Ms. Holloway, this disquieting uncertainty about spending started in childhood, after both her parents lost their jobs in the 2008 financial crisis. Her family lived below the poverty line, she said. Ms. Holloway thought twice about even necessary expenses. When she bought a pair of $130 sneakers for her high school cross country team, she spent a week feeling sick to her stomach.
She has never been able to fully shake her worries, even now that she has a paycheck that more than covers her rent and meals. It does not help that her social media acts as a highlight reel of friends’ expenses, from flashy dinners to acrylic nails.
What’s known as the hemline theory says that when the economy becomes stronger, skirts lengths become shorter; boom times mean people want to party. A corollary that some economists and sociologists have found is that when the economy turns downward, tastes for little luxuries sometimes grow. During the 2008 financial crisis, some scholars reported seeing the “Lipstick Effect,” which was consumers spending more on small cosmetic items, perhaps as a way to feel slightly better about the state of the world, or at least about their faces. And in the early 1980s, when the economy cratered, fashion turned gaudy and over-the-top. One popular poster from the time shows a man in a tweed jacket and English riding pants leaning against a Rolls-Royce, cocktail glass in the air.
“That display of preppy-style wealth came during the worst economic recession since the 1930s,” said Douglas Rossinow, a historian and the author of “The Reagan Era.”
That tendency toward crisis-inflected lipstick spending has been layered on top of a financial reality that is already confusing for young people. For years, millennials were living with a warped sense of financial security because of venture capital money essentially subsidizing DoorDash deliveries and Uber rides. Social media invites people to post only their most hard-to-get dinner reservations and “White Lotus”-reminiscent beach travel. Now the economic picture is particularly uncertain, and the Instagram aesthetic is particularly luxurious.
“There was this more subdued, minimal norm-core look of the 2010s where people were trying to occlude their power or wealth — which came out of Silicon Valley and its casual approach to the workplace — that has fallen out of favor,” said the trend forecaster Sean Monahan.
Mr. Monahan, who coined the term “boom boom aesthetic” in December, has tracked a recent surge in posts of flashy finery: caviar bumps, broad-shouldered suits, Chateau Marmont parties, 1980s-style decadence. “People feel like they’re participating in status games very explicitly,” he said. “The social hierarchy is in flux.”
Dessie DiMino, a tech worker, notices when friends post pictures from ski resorts and music festivals. She has had to ratchet up the voice in her head reminding herself to save as she follows headlines about economic uncertainty and the tariffs that seemed poised to hit her daily spending, including grocery items like coffee beans and chocolate.
“I don’t want to just stop doing everything, but I know there are days I should really bite the bullet and stay home,” said Ms. DiMino, 27.
To Ms. Walsh, the marketing employee from New York, the draw toward prudence feels especially tricky for her generation because of the shared sense that they’re living under a cloud of incessant crisis — Covid-19, climate change, political turbulence. Sometimes, she tells her mother, it’s hard to muster the discipline to save when she keeps hearing that the sky is falling.
“We’re more inclined to spend frivolously because of this looming main character energy of ‘The world is going to end anyway,’” Ms. Walsh said. “What are we saving for?”
In February, she splurged on hosting a Valentine’s Day party in her Hell’s Kitchen apartment, spending hundreds of dollars on heart-shaped sunglasses that she mounted to the wall to feel like a Sunglass Hut, a sink filled with alcohol and a new $150 heart-printed dress. “Was it a rational use of funds?” she said. “Maybe not.”
Financial planners, especially those who work with young people, are trying to help clients who are feeling throttled by these economic shifts. Some of these clients are buying up new blazers and vacations as a balm for their broader sense of anxiety about where the economy is headed. Others are avoiding even reasonable purchases.
“I work with somebody who started cheaping out on groceries, even though her family’s financial future doesn’t hang on a trip to Whole Foods,” said Matt Lundquist, a therapist in Manhattan. “The inverse end of that is people being much more pleasure seeking — getting the Chanel bag, the ‘Oh forget it, I’ve been wanting these shoes.’”
Kara Pérez, who founded an organization that educates women on managing finances, has seen this uncertainty reshape her clients’ views on class. Some are overwhelmed by the affluence they see on social media, and it makes them lose sense of whether or not they are financially comfortable. Ms. Pérez said some clients whom she would describe as firmly middle class no longer saw themselves that way.
“A lot of people are like, ‘I’m not Kim Kardashian, I’m not Elon Musk, therefore I am broke,’” Ms. Pérez said.
Ms. Pérez also sees this sentiment in comments that users leave on her social media page. On TikTok, where Ms. Pérez calls herself a personal finance expert, she’s forgiving of those who reply to her posts amid the chaos of the moment, effectively saying: “There’s no point in saving babe, we’re not going to retire. It’s OK to spend extravagantly now.”
Online prediction market platforms allow people to place bets on wide-ranging subjects such as sports, finance, politics and currents events.
Photo Illustration by Scott Olson/Getty Images
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Photo Illustration by Scott Olson/Getty Images
The rise of prediction markets means you can now bet on just about anything, right from your phone. Apps like Kalshi and Polymarket have grown exponentially in President Trump’s second term, as his administration has rolled back regulations designed to keep the industry in check. Billions of dollars have flooded in, and users are placing bets on everything from whether it will rain in Seattle today to whether the US will take over control of Greenland. Who’s winning big on these apps? And who is losing? NPR correspondent Bobby Allyn joins The Sunday Story to explain how these markets came to be and where they are going.
This episode was produced by Andrew Mambo. It was edited by Liana Simstrom and Brett Neely. Fact-checking by Barclay Walsh and Susie Cummings. It was engineered by Robert Rodriguez.
We’d love to hear from you. Send us an email at TheSundayStory@npr.org.
Listen to Up First on Apple Podcasts and Spotify.
Now you can pair your big show with dinner and a more intimate listening experience. The Hollywood Palladium, an Art Deco music venue graced by performers like Frank Sinatra, Richard Pryor, Jimi Hendrix, Lady Gaga and Jay-Z since 1940, has debuted a swanky lounge known as Vinyl Room.
Inspired by 1970s Japanese high-fidelity (hi-fi for short) listening rooms and operated by entertainment company Live Nation, it’s a space where concertgoers can have dinner, grab drinks and catch a vinyl DJ set before, during or after their ticketed event in the same venue.
With a name like Vinyl Room, you can expect to see vinyl records everywhere.
“You’re in [for] a whole night of music,” says Geni Lincoln, president of the California region for Live Nation, adding that her team put “so much thought” into the sound and design of the space, which was in development for more than two years.
“I’ve been coming to the Palladium since I was a teenager, so it’s really special to see,” she says.
Entering Vinyl Room feels like you’re stepping into a secret speakeasy for music lovers, one with iconic music memorabilia, a thoughtful food menu and premium sound quality. Want to check it out? Here are five things to know.
Everything inside of Vinyl Room is inspired by the sounds and the musicians who’ve played at the Hollywood Palladium since 1940.
1. Vinyl Room is exclusively open to members and concertgoers with an upgraded ticket
Vinyl Room is open only on Hollywood Palladium show nights, starting 90 minutes before doors open, and remains open one hour after the concert. Admission is limited to concertgoers who purchase a ticket upgrade, which starts at $35. Early reservations are recommended.
Vinyl Room also offers annual membership packages, which start at $2,000 and come with various benefits such as complimentary guest passes to Vinyl Room, access to an exclusive menu, valet parking, table reservations inside the lounge, a dedicated private entry, complimentary coat check and concert ticket credits.
Tip Dunn, also known as DJ tenSpeed, played records during opening night at Vinyl Room at the Hollywood Palladium.
2. Hi-fi is having a moment in Los Angeles — and Vinyl Room delivers on sound quality
From Common Wave Hi-Fi in Boyle Heights to Slow Jamz Gallery in the Arts District and Gold Line bar in Highland Park, hi-fi — a 1950s term used to describe the high-quality reproduction of sound — venues and experiences have been slowly popping up around L.A. over the last few years. Vinyl Room joins a short list of places where audiophiles can go to listen to music on hi-fi equipment, which many argue is the best way to experience it.
Much like the Hollywood Palladium, which is known for its top-tier sound, Vinyl Room also makes sound a priority. The lounge utilizes hi-fi sound equipment including Master Sounds Clarity-M speakers to ensure that the records sound as crisp as possible. Live DJs spin records on a set of turntables, which helps to create a richer and more analog sound that is closer to the original track than compressed versions such as MP3s.
Ruthie Embry, vice president of architecture and design at Live Nation, says the records and other memorabilia inside the space “connects you directly to the venue’s history the second you walk in the door.”
3. All of the decor ties back to music and the Hollywood Palladium’s rich history
With a name like Vinyl Room, you can expect to see vinyls everywhere. Records line most of the walls and shelves, drinks are served on vinyl-shaped coasters and tables and light fixtures are designed to the theme. There’s even vinyl wallpaper in the photo booth. In one corner of the lounge, you can dig through records under a neon sign that reads, “But have you heard it on vinyl?”
Ruthie Embry, vice president of architecture and design at Live Nation, says the records and other memorabilia inside the space “connects you directly to the venue’s history the second you walk in the door.”
Some standout items include a Red Hot Chili Peppers show flier, a Hollywood Palladium postcard signed by late musician and host Lawrence Welk and a photo of late singers Bonnie Baker and Orrin Tucker at the venue. Even the bathroom creates a memorable photo moment: The stalls are filled with photos of musicians and an “on air” studio sign lights up when a stall is occupied.
Vinyl Room’s menu, created by Chef Ryan DeRieux, is inspired by Asian flavors and includes items like the “Vinyl Roll,” which is made with spicy tuna.
4. Don’t worry about dinner plans before or after the show. Vinyl Room has got you covered
Eliminating the need to find a pre- or post-show restaurant, Vinyl Room has a full Asian-inspired menu created by Chef Ryan DeRieux.
Think sushi tots (like crispy tuna but with tater tots instead of rice), tuna poke nachos, chili crunch chicken wings and shiitake tempura burgers. There’s also a mouth-watering 10-ounce American wagyu skirt steak served with shishito peppers, pickles and charred carrots. For dessert, try the taiyaki, a popular fish-shaped Japanese street food, which is served with a delicious passion fruit cream that I wanted to take to go because I liked it so much.
Signature cocktails at Vinyl Room, inspired by popular songs, include the Superfly, Escape (if you like piña coladas) and Smoke on the Water.
5. The craft cocktails aren’t just delicious — they each have a story
Vinyl Room’s old-fashioned is made with Nikka Yoichi whisky, which is made in Japan.
The cocktail program, developed by third-generation bartender Sean Kenyon, is inspired by the songs created by musicians who’ve graced the Hollywood Palladium stage. A nod to the 1970s, the Superfly is a fizzy, citrus-forward play on Curtis Mayfield’s 1972 track and is made with Roku Gin and yuzu and sencha syrup. Other signature drinks include the rum-based Escape (if you like piña coladas) with coconut oolong syrup, pineapple juice and miso, and the tart yet sweet Smoke on the Water, which is reminiscent of Deep Purple’s 1972 song. The bar also offers an espresso martini (called the MT Joy), a signature old-fashioned (made with Nikka Yoichi whisky) and a Japanese whiskey highball (made with Hibiki Harmony whisky). The bar offers a number of non-alcoholic options as well.
A screenshot from George Mélière’s Gugusse et l’Automate. The pioneering French filmmaker’s 1897 short, which likely features the first known depiction of a robot on film, was thought lost until it was found among a box of old reels that had belonged to a family in Michigan and restored by the Library of Congress.
The Frisbee Collection/Library of Congress
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The Frisbee Collection/Library of Congress
The Library of Congress has found and restored a long-lost silent film by Georges Méliès.
The famed 19th century French filmmaker is best known for his groundbreaking 1902 science fiction adventure masterpiece Le Voyage dans la Lune (A Trip to the Moon).
The 45-second-long, one-reel short Gugusse et l’Automate – Gugusse and the Automaton – was made nearly 130 years ago. But the subject matter still feels timely. The film, which can be viewed on the Library of Congress’ website, depicts a child-sized robot clown who grows to the size of an adult and then attacks a human clown with a stick. The human then decimates the machine with a hammer.
In an Instagram post, Library of Congress moving image curator Jason Evans Groth said the film represents, “probably the first instance of a robot ever captured in a moving image.” (The word “robot” didn’t appear until 1921, when Czech dramatist Karel Čapek coined it in his science fiction play R.U.R..)
“Today, many of us are worried about AI and robots,” said archivist and filmmaker Rick Prelinger, in an email to NPR. “Well, people were thinking about robots in 1897. Very little is new.”
A long journey
Groth said the film arrived in a box last September from a donor in Michigan, Bill McFarland. “Bill’s great grandfather, William Frisbee, was a person who loved technology,” Groth said. “And in the late 19th century, must have bought a projector and a bunch of films and decided to drive them around in his buggy to share them with folks in Pennsylvania, Ohio, New York.”
McFarland didn’t know what was on the 10 rusty reels he dropped off at the Library of Congress’ National Audio-Visual Conservation Center in Culpeper, Va. A Library article about the discovery describes the battered, pre-World War I artifacts as having been, “shuttled around from basements to barns to garages,” and that they, “could no longer be safely run through a projector,” owing to their delicate condition. “The nitrate film stock had crumbled to bits on some; other strips were stuck together,” the article said. It was a lab technician in Michigan who suggested McFarland contact the Library of Congress.
“The moment we set our eyes on this box of film, we knew it was something special,” said George Willeman, who heads up the Library’s nitrate film vault, in the article.
Willeman’s team carefully inspected the trove of footage, which also contained another well-known Méliès film, Nouvelles Luttes extravagantes (The Fat and Lean Wrestling Match) and parts of The Burning Stable, an early Thomas Edison work. With the help of an external expert, they identified the reel as having been created by Méliès because it features a star painted on a pedestal in the center of the screen – the logo for Méliès Star Film Company.
A pioneering filmmaker
Méliès was one of the great pioneers of cinema. The scene in which a rocket lands playfully in the eye of Méliès’ anthropomorphic moon in Le Voyage dans la Lune is one of the most famous moments in cinematic history. And he helped to popularize such special effects as multiple exposures and time-lapse photography.
This moment from George Méliès’ Le Voyage dans la Lune (A Trip to the Moon) is considered to be one of the most famous in cinematic history.
George Méliès/Public Domain
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George Méliès/Public Domain
Presumed lost until the Library of Congress’s discovery, Gugusse et L’Automate loomed large in the imaginations of science fiction and early cinema buffs for more than a century. In their 1977 book Things to Come: An Illustrated History of the Science Fiction Film, authors Douglas Menville and R. Reginald described Gugusse as possibly being, “the first true SF [science fiction] film.”
“While it may seem that no more discoveries remain to be made, that’s not the case,” said Prelinger of the work’s reappearance. “Here’s a genuine discovery from the early days of film that no one anticipated.”
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