Lance Palmer, a professor in the financial planning, housing and consumer economics department of the College of Family and Consumer Sciences, was quoted in a Thrive Global article about financial stress.
A study from Discover and Thrive Global revealed that 31% of people have felt the physical effects of money stress. These people admitted that they’ve seen an impact on their blood pressure, sleep or mental health.
Although it’s natural for people to think about how they’re doing relative to others, Palmer said that it’s not healthy to compare financial factors, budgets or debts.
“If you feel like the people you’re comparing yourself against are doing better than you, it creates a lot of stress,” he said.