How Does Wealth Affect Family Relationships?

Many people fantasize about having more money and how it might impact their lives. What would you do if you suddenly came into extreme wealth? How would your life change? More importantly, how would your relationships change? 

We don’t tend to think about how wealth impacts relationships — especially those within our own family. 

But, far too often, money does change things. It’s one of the most powerful and influential tools in the world. It’s also the source of many arguments and problems within relationships. 

The more you understand how wealth can negatively impact the connection you have with your family, the more conscious you’ll be about taking active steps to make sure those issues don’t affect you as much, no matter your financial situation. 

Control, Respect, and Power

We live in a society where it can often feel like money controls everything. The more money you have, the more respect you deserve. The more money you have, the more power you have. As the old saying goes, money can’t buy happiness. But, in today’s world, it can definitely make you feel important. 

It’s easy for those feelings to go to your head and change your attitude. You might start to feel like you deserve more respect or more control over your own family members. Or, you might notice a family member who already has a lot of money trying to take the reins over everyone else and be the decision-maker for the family simply because of their financial status. 

That can leave a bad taste in everyone else’s mouth. Respect has nothing to do with how much money is in someone’s bank account. If someone in the family starts acting like they somehow deserve more control because of their wealth, it’s going to create problems. 

Jealousy Issues

Whether someone in your family flaunts their money or not, people are going to have an idea of their financial status. Those things tend to “get out,” and they can create extreme jealousy issues between family members. 

Even if someone is humble about their wealth, it won’t necessarily stop another person from coveting it. 

That kind of jealousy can lead to rumors being spread throughout the family, or certain family members taking sides, even when they don’t know the full scope of the situation. 

Stress and Strain

While money is one of the world’s biggest motivators, it’s also a great source of stress for many people. If someone in your family is wealthy, it can unfortunately create contention between family members. 

That’s no one’s fault, really, unless the wealthy family member makes it a point to talk about their financial success more often than not. But, sometimes, just the knowledge that someone has a lot of money can make people act differently around them. 

Even if it’s a family member they’ve known forever, money can change attitudes and thought processes. There are stigmas and stereotypes that go along with it, and those are hard to break. 

What Can You Do? 

The last thing you want is for wealth to cause your family relationships to crumble. If you start to notice any of these signs, take a step back and talk to your family members about what’s going on. Communication is key. 

Don’t let wealth become so important in your life that it keeps everything else — including your family — in the shadows. Relationships should always be prioritized, and being able to understand how other family members feel can make a big difference in how money affects those relationships. 

Finally, don’t hesitate to reach out for help if you feel like money is already starting to take a toll. Family therapy can help you work through the underlying issues that are being covered by wealth, so you can strengthen your family relationships and work through any of the problems wealth is bringing to the surface.