Survey: 1 in 10 spouses ‘financially bullied’ - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC

Survey: 1 in 10 spouses ‘financially bullied’

Posted: Updated:

Maxine Browne is thrilled to be in charge of her own credit and debit cards.

"For years I had no access to money whatsoever," Browne said.

Browne said her Husband controlled all their cash and credit. Browne is not alone.

A Credit Karma survey reveals one in ten respondents classified their significant other as a "financial bully."

So how do you recognize a bully? Relationship therapist Rachel Sussman said it's important to look for warning signs. For example, does your partner limit your spending?
Have you changed your spending behavior for them?

Certified financial planner Kathleen Sachs said couples should ordinarily make sure they are on the same page when it comes down to money.

"If I say to you, how is your financial health? And you say to me ‘I have no idea my spouse is in charge of that,' you have put yourself at risk," Sachs said.

Sachs warns make sure you always know your financial basics, including what you are billed each month, your debts and how to access retirement accounts.

Experts say if you don't know this information or feel like you are being bullied by your spouse you should speak up.

"There is a lot of power in communication," Sachs said.

Credit Karma also found the percentage of men and women who report being financially bullied in almost equal.

Copyright 2014 WBTV. All rights reserved.

Powered by WorldNow