Social Comparisons Bad for Your Wealth

Trying to "keep up with the Joneses" only leaves you feeling more stressed and less capable of handling financial pressures, according to behavioural finance experts

Lex Hall 9 August, 2018 | 7:48AM

Stepford Wives rivalry keeping up with the joneses social comparison behavioural finance

Trying to "keep up with the Joneses" only leaves you feeling more stressed and less capable of handling financial pressures, according to a Morningstar behavioural finance expert.

You are better off comparing yourself to people with less money and focusing on how good you have it, says Sarah Newcomb, a behavioural economist with Morningstar.

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Lex Hall

Lex Hall  is Content Editor for Morningstar Australia

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