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Jingshi (Joyce) Liu, Lecturer in Marketing, City, University of London

How your favourite things can boost your wellbeing

Thinking about a favourite book. Krakenimages.com/Shutterstock

The cost of living crisis has left many people struggling to afford basic necessities such as food and heating for their homes. On the other hand, the top ten richest men in the world doubled their wealth during the COVID pandemic while 99% of people became worse off.

While this is a comparison of two extremes, many people attempt to “keep up with the Joneses” – looking at what the people around them own and striving to afford the same things. Comparing material wealth and resources to those around you is even more common when others are better off. It’s hard not to wonder why someone else has a nicer car or better clothes.

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