Bullying has become all too common in our society today. Typically it's an issue among children and teens, although adult bullying isn't unheard of. There are many different types of adult bullying, especially among couples. In this article, we turn our focus to financial bullying.
What is financial bullying?
By definition a bully is someone who uses his or her influence or strength to intimidate others and force them to do what they want. Financial bullies intimidate and manipulate their partners by controlling all of the household finances.
What are some signs of financial bullying?
Financial bullying can come in a variety of forms, including withholding money, restricting access to certain accounts, and limiting spending. Many bullies will force their partners to account for even small purchases by always asking to see receipts. In order to feel the power and control bullies crave they also often threaten to leave knowing this would leave their partner in financial trouble.
What can you do?
As in any type of bullying situation, if you feel you are being bullied, it is best to tell someone you trust or consider seeking professional help. Many couples will fight over finances, but financial bullying goes beyond the typical.
If you find yourself in a situation like this there are ways to take back control of your finances. You can use a tool like Credit Karma to check your credit score and see your full financial picture. If you are concerned your partner might have opened or could open accounts in your name you can also monitor your accounts at Credit Karma.
- "I Do" and Money: The Effects of Different Money Choices on Your Credit, Bank Account and Debt
- 4 Conversations Couples Should Have About Money
- The American Association for Marriage and Family Therapy
- Women's Institute for Financial Education
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