How do your money habits compare to the typical transactions on Cash App?

According to Cash App's recent trend report, "food" is the most frequently used word in transactions on the peer-to-peer payment app. This may not be surprising to anyone who has struggled to split the bill after a group dinner and ended up with one person covering the tab while the others paid them back.

"Love," "rent," and "birthday" are other popular mentions in Cash App transactions, following "gas" and "food."

These words suggest social connections, like friends and family giving money for dining out, travel, or celebrations.

Lindsay Bryan-Podvin, a financial therapist at Cash App, explains to CNBC Make It that this data primarily focuses on how individuals spend their leisure time and interact with others culturally.

Bryan-Podvin suggests that trends can make individuals feel more in sync with their peers in terms of spending habits.

"My clients often ask, 'Am I normal? Do others do this?'" she says. "This snapshot provides a reassuring answer: 'Yes, you're normal' when it comes to spending, lending, and saving."

Some spending trends identified by Cash App and their implications on our collective money habits are as follows:

'I am committed to prioritizing my self-care and I will not feel embarrassed about it.'

According to data, Gen Z and millennial Cash App users aged 18 to 44 are primarily using the app to transfer funds for leisure activities and self-care purposes.

Bryan-Podvin says that the use of phrases like "sweet little treats," "pickleball," and "mocktails" indicates that these generations are prioritizing self-care and are not embarrassed about it.

These trends may make individuals feel more comfortable with their own spending habits, but they could also indicate a societal pressure to prioritize spending on leisure activities.

It's okay to indulge in discretionary spending, but if it's done excessively to keep up with trends or follow the crowd, it's important to reevaluate your financial goals and priorities, advises Bryan-Podvin.

She emphasizes the importance of returning to one's personal values and priorities.

If prioritizing concerts or fashion is crucial to your self-expression and identity, that's understandable. However, it may require cutting back on other expenses due to financial constraints.

Ensure that the trends you want to participate in align with your values, advises Bryan-Podvin.

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