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.
Signage for Tata Electronics Pvt Ltd. at the company’s factory in Hosur, Tamil Nadu, India, on Tuesday, Aug. 5, 2025.
Bloomberg | Bloomberg | Getty Images
Tata Electronics has lined up American chip designer Intel as a prospective customer as the division of Mumbai-based conglomerate Tata Group works to expand India’s domestic electronics and semiconductor supply chain.
Under a Memorandum of Understanding, the companies will explore the manufacturing and packaging of Intel products for local markets at Tata Electronics’ upcoming plants.
Intel and Tata also plan to assess ways to rapidly scale tailored artificial intelligence PC solutions for consumers and businesses in India.
In a press release on Monday, Tata said that the collaboration marks a pivotal step towards developing a resilient, India-based electronics and semiconductor supply chain.
“Together [with Intel], we will drive an expanded technology ecosystem and deliver leading semiconductors and systems solutions, positioning us well to capture the large and growing AI opportunity,” said N Chandrasekaran, Chairman of Tata Sons, the principal investment holding company of Tata companies.
Tata Electronics, established in 2020, has been investing billions to build India’s first pure-play foundry. The facility will manufacture semiconductor products for the AI, automotive, computing and data storage industries, according to Tata Electronics.
The firm is also building new facilities for assembly and testing.
India, despite being one of the world’s largest consumers of electronics, lacks chip design or fabrication capabilities.
However, the Indian government has been working to change that as part of efforts to reduce dependence on chip imports and capture a bigger share of the global electronics market, which is shifting away from China.
Intel CEO Lip-Bu Tan said the partnership with Intel was a “tremendous opportunity” to rapidly grow in one of the world’s fastest-growing computer markets, fueled by rising PC demand and rapid AI adoption across India.
With more than a thousand troops being killed or wounded every day, there’s no sign that Donald Trump’s push to end Russia’s war in Ukraine is reducing the battles on the ground.
Quite the opposite.
Ukraine‘s military chief says Vladimir Putin is instead using the US president‘s focus on peace negotiations as “cover” while Russian soldiers attempt to seize more land.
That means much greater pressure on the Ukrainian frontline, even as Russian and American, or American and Ukrainian, or Ukrainian and European, leaders shake hands and smile for cameras before retreating behind closed doors in Moscow, Alaska, and London.
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3:05
This was not an upbeat meeting of Ukraine and its allies
Putin’s not counting on peace
The lack of any indicators that the Kremlin is looking to slow its military machine down also makes the risk of war spreading beyond Ukraine’s borders increasingly likely.
It takes a huge amount of effort, time, and money to put a country on a war footing as Putin has done, partially mobilising his population, allocating huge portions of government spending to the military and realigning Russia’s vast industrial base to produce weapons and ammunition.
Image: Putin has been in India to shore up support from Narendra Modi. Pic: Reuters
But when the fighting stops, it requires almost as much focus and energy to switch a society back to a peace time rhythm.
Deliberately choosing not to dial defence down once the battles cease means a nation will continue to grow its armed forces and weapons stockpiles – a sure sign that it has no intention of being peaceful and is merely having a pause before going on the attack again.
The absence of any preparations by Moscow to slow the tempo of its military operations in Ukraine – where it has more than 710,000 troops deployed along a 780-mile frontline – is perhaps an indicator that Putin is anticipating more not less war.
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3:07
What is Putin trying to achieve in India?
How could the war end?
What happens next in Europe will depend on the content of any peace deal on Ukraine.
An all-out Russian defeat is all but impossible to conceive without a significant change of heart by the Trump White House and a massive increase in weapons and support.
The next best result for Ukraine would be a settlement that seeks to strike a fair balance between the warring sides and their conflicting objectives.
This could be done by pausing the fighting along the current line of contact before substantive peace talks then take place, with Ukraine’s sovereignty supported by solid security guarantees from Europe and the US.
But such a move would require Europe’s NATO allies, led by the UK, France and Germany, genuinely to switch their respective militaries and populations back to a wartime footing, with a credible readiness to go to war should Moscow attempt to test their support of Ukraine.
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6:47
Why Ukraine’s allies may welcome Trump walking away
Will Starmer level with the public?
That does not just mean increased spending on defence at a much faster rate – in the UK at least – than is currently planned. It is also about the mindset of a country and its willingness to take some pain.
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1:46
New UK military technology unveiled
Worst case scenario?
The other alternative when it comes to Ukraine is a scenario that sees a sidelined Europe unable to influence the outcome of the negotiations and Kyiv forced to agree to terms that favour Moscow.
This would include the surrender of land in the Donbas that is still under Ukrainian control.
Such a deal – even if tolerated by Ukraine, which is unimaginable without serious unrest – would likely only mean a temporary halt in hostilities until Putin or whoever succeeds him decides to try again to take the rest of Ukraine, or maybe even test NATO’s borders by moving against the Baltic States.
With Trump’s new national security strategy making clear the US would only intervene to defend Europe if such a move is in America’s interests, it is no longer certain that the guarantees contained in NATO’s founding Article 5 principle – that an attack on one member state is an attack on all – can be relied upon.
In the scenario, Washington does not come to Britain’s defences, which leaves the British side with very few options to respond short of a nuclear strike.
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A powerful earthquake struck off northern Japan, injuring 33 people and unleashing a tsunami.
The 7.5-magnitude quake struck at about 11.15pm local time, around 80 kilometers off the coast of Aomori prefecture.
Japan’s Fire and Disaster Management Agency said 33 people were injured, including one seriously, with most hurt by falling objects.
Image: A road is congested with cars heading for higher ground in Tomakomai City December 8, 2025 after a magnitude 7.6 earthquake. Pics: AP
A tsunami of 70cm was measured just south of Aomori, in Kuji port, Iwate prefecture, while levels of up to 50cm struck elsewhere in the region, the Japan Meteorological Agency said.
“I’ve never experienced such a big shaking,” said Nobuo Yamada, who owns a convenience store in Hachinohe, Aomori, in an interview with public broadcaster NHK.
Earlier on, the meteorological agency issued an alert for potential tsunami surges of up to 3m/10ft, with 90,000 residents ordered to evacuate.
Residents were urged by chief cabinet secretary Minoru Kihara to go to higher ground or seek shelter until advisories were lifted.
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Image: People sheltering today in Kamaishi Elementary School in Kamaishi City, Miyagi Prefecture. Pic: AP
He said about 800 homes were without electricity, and that the Shinkansen bullet trains and some local lines were suspended in parts of the region.
Some 480 residents took shelter at the Hachinohe Air Base, defence minister Shinjiro Koizumi said, with 18 defence helicopters mobilised for damage assessments.
While Satoshi Kato, vice principal of a public high school in the same town, encountered traffic jams and car accidents en-route to the school as panicked people tried to flee.
Japan has recent experience of the perils of earthquakes – one in 2011 unleashed a tsunami that killed some 20,000 people and triggered a nuclear meltdown at the Fukushima Daiichi Nuclear Power Plant.
Image: The earthquake warning off the coast of Aomori Prefecture, Japan. Pic: AP
Today’s quake caused about 450 litres of water to spill from a spent fuel cooling area at the Rokkasho fuel reprocessing plant in Aomori, the Nuclear Regulation Authority said.
But water levels remained within the normal range and there was no safety concern, the authority added.