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No one wants to admit that they are jealous of someone else’s money. However, nearly three in five Americans have felt envious of someone else’s financial situation, according to a NerdWallet survey. Especially when it comes to family and money, jealousy can tear a family apart. If you’re the family member who has the money, you probably face a host of challenges with your family. Some of it may be ugly and strain your relationship. Here’s the real truth about your family’s jealousy.
Money Envy
The truth about money envy is that it’s fairly common. Financial therapists may tell you that it’s part of the human condition. For example, when you scroll through social media and see a post about an expansive house that is your dream home, you immediately get that pang of envy. It’s more than wanting to keep up with the Joneses. Often, money envy is attached to a deep sense of shame for what you don’t have.
Your family may have to work on this individually to improve their own financial situations and change their money mindsets. Additionally, one study found that envy of any kind can evoke a neurological pain response. In short, envy can be agonizing. So, it’s best to handle feelings of envy with care. Your loved ones’ finances may be impacting their mental health in ways you aren’t recognizing.
How Money Can Change Relationships
Astonishingly, research has found that financial envy is usually directed more at our peer groups than at people like Bill Gates. We are envious of the people around us whose financial status we feel we can achieve. Typically, we aren’t envious of billionaires. This may explain why family members are often jealous of one another.
Beyond money envy, your family may have certain expectations of you because of your finances. You might be the one that everyone comes to when they need help financially. Taking care of everyone’s problems can be taxing and strain the relationship.
In addition, your family may exclude you or start fights for no reason. In reality, every interaction has some kind of meaning. If you are constantly arguing with your family, it may be because of their deep-seated jealousy.
How to Move Past Money Jealousy with Family
Just because your family is jealous of your success doesn’t mean that you have to have a tumultuous relationship. There are steps you can take to work through the envy. For example, have an open conversation about what triggers your family. Maybe they don’t appreciate when you talk about your wealth. Acknowledging that they are envious is often the first step in improving the relationship.
Money jealousy isn’t always a bad thing. Your family members can use it as a motivator to improve their own financial situations. Maybe you can help your family to improve their finances and grow their own wealth.
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Teri Monroe started her career in communications working for local government and nonprofits. Today, she is a freelance finance and lifestyle writer and small business owner. In her spare time, she loves golfing with her husband, taking her dog Milo on long walks, and playing pickleball with friends.
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