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Image-obsessed millennials think it’s important to “look or appear” financially successful more than previous generations — despite many of them struggling with high housing costs, student loanpayments, and compoundingcredit card debt, according to a recent Wells Fargo study.

While 54% of the millennials Wells Fargo surveyed say they’ve been greatly affected by the cost-of-living crisis, 59% of the 28-to-43-year-old age group think it’s important to show off their financial status through the way they dress, the car they drive, and the home they live in.

By comparison, just 35% of Gen Xers, 14% of baby boomers, and 7% of the silent generation feel the same about flaunting their wealth, according to the survey.

This “money dysmorphia,” as dubbed by Intuit Credit Karma, can lead millennials to be so obsessed with flaunting their riches that they bury themselves even deeper in debt, said Emily Irwin, managing director of advice and planning for Wells Fargo.

“Theres a growing trend to present themselves with an image that isnt reflective [of] their actual financial situation,” Irwin told Fortune, which first reported on the survey.

“For some, it could be even be a fake it until you make it mentality.”

What’s even more telling is that Wells Fargo’s study surveyed 1,000 affluent millennials, who make more than $250,000 per year, further proof that lower-income earners aren’t the only ones “grappling with this external image,” Irwin added.

Were living in a world where our net worth seems clickable — anyone can look up what we paid for our homes, handbags, or cars — and, because of this, showcasing a lavish lifestyle can feel more exhilarating than saving,” Irwin told The Post on Thursday.

Wells Fargo found that of the high earners in this age group, nearly one-third buy things they cannot afford to impress others or feel like they “fit in,” while 34% have been guilty of exaggerating their income, savings, or spending to maintain an appearance of financial success.

Irwin suggested millennials reassess how they view their economic situation.

“Tying financial behaviors to short- and long-term goals is the best way to get real about your money story and to make living within your means sexy — on and off TikTok, she said.

That’s not easy. Millennials face the worst economic headwinds in recent history. Stubbornly-high inflation has pushed interest rates to a 22-year high, crippling young would-be homebuyers.

The average interest rate on a 30-year fixed rate mortgage in the US, which is tracked weekly by Freddie Mac, is 6.64% — near a multi-decade high, though the figure has fallen from its 8% peak last October.

Credit card debt is also at an all-time high. Though it’s unclear how many millennials specifically are experiencing borrowing troubles, the Federal Reserve Bank of New York said in its third-quarter report released last November that overall debt levels increased by 1.3% during the three-month period, to $17.29 trillion. 

Many millennials are also grappling with student loan payments.

Data from the US Department of Education showed that in October — when payments resumed after a three-year pause — some 40% of the 22 million borrowers did not make their payments.

There are signs that even fewer borrowers made payments in November, despite President Joe Bidens relief programs.

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Industrial action on agenda as actors balloted by Equity over AI scanning concerns

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Industrial action on agenda as actors balloted by Equity over AI scanning concerns

Thousands of members of actors’ trade union Equity are being asked whether they would support industrial action over artificial intelligence protections.

The organisation has launched an indicative ballot among about 7,000 members working in film and TV.

Performers are being asked whether they are prepared to refuse to be digitally scanned on set in order to secure adequate artificial intelligence protections.

It will be the first time the performing arts and entertainment trade union has asked this whole section of its membership to vote in a ballot.

The Hollywood strikes took place in 2023. File pic: AP
Image:
The Hollywood strikes took place in 2023. File pic: AP

The announcement follows the Hollywood strikes in 2023, when members of Equity’s sister union in the US, SAG-AFTRA, and writers, went on strike over issues including AI.

Video game actors in the US also protested over the use of AI, ending almost a year of industrial action earlier in 2025.

Equity’s ballot opens on Thursday and runs for two weeks, and will show the level of support the union has for action short of a strike.

Another statutory ballot would have to be made before any industrial action is taken.

“While tech companies get away with stealing artists’ likeness or work, and the government and decision makers fret over whether to act, unions including Equity are at the forefront of the fight to ensure working people are protected from artificial intelligence misuse,” Equity general secretary Paul W Fleming said in a statement.

“If bosses can’t ensure someone’s likeness and work won’t be used without their consent, why should performers consent to be digitally scanned in the first place?”

Mr Fleming said the ballot would give members the opportunity to “send a clear message to the industry: that it is a basic right of performers to have autonomy over their own personhood and identity”.

The union has no choice but to recommend members support industrial action, he said.

“It’s time for the bosses to step away from the brink and offer us a package, including on AI protections, which respects our members,” added Mr Fleming.

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Spotify Wrapped: How does it work – and who are this year’s top artists?

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Spotify Wrapped: How does it work - and who are this year's top artists?

The hotly anticipated Spotify Wrapped is revealing our top tracks, artists and albums for 2025.

But how does the streaming service calculate personalised summaries of users’ listening habits and rank the UK’s hottest artists?

Here’s a look at how your data is used.

The platform describes the annual statistics as “a chance to look back on your year in sound”.

It says data is captured between January and mid-November on every account, although it mostly excludes anything streamed in private mode. (Don’t worry, your passion for the Spice Girls can be kept secret.)

Wrapped presents personalised listening statistics, which Spotify calls the “real story of your year of listening”, alongside global figures for comparison.

The streaming service says Minutes Listened reflects the actual time spent listening to audio on the platform.

More on Spotify

Once a user streams at least 30 tracks, Spotify generates a list of Your Top Songs. Similarly, Your Top Artists ranks artists based on total minutes listening to a particular performer.

Other metrics identify the top genres users have played, as well as podcasts and audiobooks ranked by total minutes listened. And if you’ve listened to at least 70% of tracks on a record, you’ll see top albums too.

Spotify also creates Your Listening Age, a guesstimate of your age based on the era of the music “you feel most connected to”.

The streaming service says the statistic is calculated using a five-year span of music which users engaged with more than other listeners of a similar age.

Spotify has been summing up 2025's most listened to tracks. Pic: Spotify
Image:
Spotify has been summing up 2025’s most listened to tracks. Pic: Spotify

Swift vs Bunny

Pop superstar Taylor Swift has been named the UK’s most-streamed artist on Spotify for the third year in a row.

But she dropped out of the top spot in the global rankings, coming second to Puerto Rican superstar Bad Bunny, who secured more than 19.8 billion streams. Third were The Weeknd, followed by Drake and Billie Eilish.

Bad Bunny’s LP Debi Tirar Mas Fotos was the most listened-to album worldwide.

Read more from Sky News:
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Drake’s lawsuit dismissed
Spotify hikes UK prices

Spotify revealed Drake was the UK’s second most-listened to artist, followed by Sabrina Carpenter in third, The Weeknd in fourth and Billie Eilish in fifth.

Despite being the most listened-to artist, Swift failed to break into the UK’s top five most listened-to songs and albums of the year.

Alex Warren’s Ordinary was the most-streamed song, and Short ‘N’ Sweet, released by Carpenter last year, the top album.

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Israel allowed to take part in Eurovision 2026 – as at least three countries withdraw

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Israel allowed to take part in Eurovision 2026 - as at least three countries withdraw

Israel will be allowed to compete in next year’s Eurovision Song Contest – with several broadcasters saying they will now boycott the event.

Dutch broadcaster AVROTROS, Spain’s RTVE and Ireland’s RTE immediately issued statements saying they will not participate in the 2026 contest following the European Broadcasting Union’s general assembly meeting on Thursday.

Sky News understands Slovenia’s broadcaster will also pull out.

Members were asked to vote in a secret ballot on whether they were happy with new rules announced last month, without going ahead with a vote on participation next year.

In a statement, the EBU said members had shown “clear support for reforms to reinforce trust and protect neutrality”.

Ahead of the assembly, Israel’s public broadcaster KAN said its chief executive Golan Yochpaz and representative to the EBU, Ayala Mizrahi, would present KAN’s position “regarding attempts to disqualify Israel from the competition”.

The rule changes annnounced in November came after Israeli singer Yuval Raphael received the largest number of votes from the public at this year’s contest, held in Basel, Switzerland, in May – ultimately finishing as runner-up to Austria’s entry after the jury votes were counted.

More on Eurovision

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