Recently, media personality Kim Kardashian revealed on her podcast Call Her Daddy that one of the reasons that contributed to her taking the decision to take divorce form former husband Kanye West in 2021 was the latter's rather erratic spending habits.
She even went on to add that she felt financially insecure when she was in the relationship with West. It may come as a surprise to many of you, but wait till you hear this. “Just not feeling safe, you know, not even physically, just like maybe emotionally or even, you know, financially. I would like come home, and we had like five Lamborghinis, and I’d come home and they’d all be gone if he was in an episode. And I’d be like, ‘Oh, wait. Where’s all our cars? Like, my new car?’ And it would be like, oh, he gave them away to all of his friends," Kardashian revealed.
Well, erratic spending habits of an individual can make their partner feel financially unsure. Moneycontrol's team reached out to relationship expert Ruchi Ruuh to understand more about financial intimacy and how unusual spending habits of an individual can eventually take a toll on their relationship.
"A lot of people must be thinking that why would a person as rich as Kardashian let spending habits of their partner become a big concern. What people really need to understand here is that feeling financially unsafe isn’t always about lack of money. It can also demonstrate lack of stability and trust in the relationship overall. So, when Kim said that she felt financially unsafe, she was essentially talking about West's unpredictable spending habits made him appear so unreliable, untrustworthy and someone with a lack of responsibility," Ruuh explained.
What is financial intimacy?
"I have seen people talk about physical and emotional intimacy, but they often ignore financial intimacy which is equally if not more important. In fact, I am sure a lot of people will draw a blank when they here this term. A refrain that I get to hear a lot is, 'What is financial intimacy?' To such people, I always explain that this type of intimacy involves not only discussions around earning and spending, but also what relationship one has with money and what their fears are around it," Ruuh told Moneycontrol.
In Kim's case, the erratic spending habit of West must have triggered a feeling of insecurity in Kardashian. Not just that, she must have also felt that she was left out of a major decision to give away luxury cars to West's friends. "Many people see money as freedom and security for the future, their partner's unpredictable financial behaviour can be viewed as a threat and make one experience a sense of loss of control," shared Ruuh.
"I was once counseling a new couple who had just moved in together. They had been together for a while, but living together and sharing expenses was new to both. One partner wanted to save for a big holiday and the other one wanted to enjoy each day like a vacation. Obviously, there was a disconnect. Both partners made some ground rules and negotiated how both of them can do things they wanted to do. Daily budgets were understood and limits were set. However, it took some time to achieve financial intimacy," explained Ruuh.
Red flags in financial intimacy- Avoiding conversations about money or becoming defensive when asked about it
- Hiding expenses, debts or even earnings
- Making big financial decisions without informing the other partner
- Using money to gain more control in the relationship and shifting the power dynamic
- Constantly feeling anxious, guilty, or uncertain about how money is being handled
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