New form of bullying: Financial bullying in relationships - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

New form of bullying: Financial bullying in relationships

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A new study show one in ten couples experience “financial bullying” from their significant other. A new study show one in ten couples experience “financial bullying” from their significant other.
POPLAR BLUFF, MO (KFVS) -

A new study shows one in 10 couples experience "financial bullying" from their significant other.

Experts say financial bullying can include:

• Making someone feel guilty about their shopping habits;

• Limiting a partner's spending;

• Making a partner show receipts for all purchases;

• Imposing an allowance.

The Callahan's have been married for about five months. They say they used to be heading down the road to financial bullying.

"I was trying to keep track of our finances and so I was like ‘Give me your receipts!' and I felt like he felt like I was trying to control what he was doing and I really didn't mean it like that," Lindsey Callahan said.

"I definitely felt like there was a trust issue that was going on," Eric Callahan said.

Financial Planner Derieck Hodges said other couples have shared this experience.

"In a lot of relationships there is typically a dominant person who handles most of the money decisions," Hodges said.

Hodges said it's not always a bad thing for one person to take the reins on the finances, but he says, be careful not to take it too far.

"There are cases where there is a spouse who has become more than just dominant, they become kind of dictatorial in how they handle the finances and that's probably not very healthy," Hodges said.

The Callahan's now follow the Dave Ramsey financial plan through Financial Peace University. They say this new plan has changed the way they look at finances as a couple.

"We have our tithing envelope, groceries, gas," Lindsey Callahan said as she flipped through the couple's monthly budgeting envelopes. "Once the money is gone that's all you can submit for that so that definitely helps a lot."

Experts say this couple is on the right track with handling their finances.

"You both have to have a say and you both have to listen," Eric Callahan said.

For these newlyweds, their financial planning meant a new way of thinking.

"Before marriage, for me, it was definitely myself and myself only. With another person in my life, you have to work as a team because if you don't you're going to collapse," Eric Hodges said.

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