Written by Lily Powell, 2026 Marketing Intern
Recently, while scrolling on social media, I came across a post asking how much money the average 20-something year old should have in their savings account. I was shocked by what I found in the comment section. Responses ranged from no savings to $30,000 being put away, leaving me as confused and uncertain as ever about my own financial state.
On instinct, I quickly checked my savings account and in less than a minute, the realization of not being where I need to be sent me spiraling down a rabbit hole of self-doubt.
A few days later I began to ask myself why that one post affected me so much. Why did I feel behind seeing that a few people my age have significantly more in their savings, rather than feeling accomplished by my current financial position?
Why did I feel the need to make a comparison at all?
The truth is that comparison is part of how we learn. As individuals, we compare ourselves to others as a method of motivation and as a checkpoint to measure personal success. However, it takes a great amount of discipline to do so successfully, without it impacting mental health and self-image. When it begins to alter how one is determining self-worth and overall satisfaction, psychologists refer to it as social comparison theory.
However, despite its adverse effects, comparison isn't inherently negative. Witnessing others succeed can serve as a source for inspiration and extrinsic motivation. I realized I needed to learn to adapt my thinking and use comparison as a tool to support my financial goals, rather than allowing it to hinder my progress.
To gain some more insight, I began researching financial articles and advice columns. Here are three things I took away during the process that I have begun to implement into my life.
- Use yourself as a benchmark to measure growth. Circumstances are constantly changing. This is why using your past self as a comparison allows you to celebrate each milestone and the hard work that accompanied it.
- Comparison without context is a slippery slope. In this digital world where a snapshot of everyone's lives is just a click away, it's easy to feel like we're falling behind. When doubt begins to take over, pause for a moment and remember we're only being shown the curated version of people's lives, not what they are sacrificing to get there or struggling with behind closed doors.
- Don't let the spending habits of others distract you from your goals. Social media and the rise of influencers have skewed our perception of what is attainable. Before you're convinced to buy a new product, upgrade your car, or go on a vacation, take a moment and consider why you're drawn to what they are promoting and if it will add value to your life.
Changing my perspective has been challenging, but by keeping this advice in mind, I have been able to reflect internally on my own financial journey without worrying about how it differs from others around me.
If you too find yourself struggling, I encourage you to reach out to the financial wellness coaches at the Community Empowerment Center for personalized advice on how to finally break free from financial comparison.