Financial domination or ‘Findom’ is a harmful situation where one person in a relationship exerts complete control over the finances, leading to an imbalance of power and emotional distress. This can result in feelings of helplessness, lack of independence, and even financial hardship.

BTW, this is very very simplastic definition. Because this situation generally in GenZ language refers to a kind of hidden fantasy of an individual. So, on social media specially on Reddit, expect a very complex situation or story related to Findom.

But in this article, we’ll stick to the simple version of the problem and discuss around that only.

What is Financial Domination?

Financial domination occurs when one partner makes all financial decisions without involving the other. This can include controlling how much money is spent, where it goes, and who has access to it. The non-dominant partner may have limited access to money or require permission to make purchases.

Why Does Financial Domination Happen?

There are many factors that can contribute to financial domination, including:

• • Cultural norms: Traditional gender roles and societal expectations can perpetuate financial domination. Like in Pakistan, majority of times male of the family controls the finance.
  • Power imbalances: Pre-existing power dynamics in a relationship can influence financial control.
  • Financial illiteracy: Lack of financial knowledge can make one partner more vulnerable to manipulation.
  • Fear and dependency: Emotional factors can lead to a reliance on the dominant partner for financial security.

Signs of Financial Domination

There are multiple ways to identify, if you suspect you might be in a financially dominated relationship. Check for these signs:

• • Constant monitoring of spending: Your partner may always want to know where you are spending your money.
  • Denial of financial information: Your partner may refuse to share information about their finances or hide financial documents from you.
  • Controlling behavior: Your partner may try to limit your access to money or make it difficult for you to work or earn money.
  • Isolation from financial resources: Your partner may try to keep you away from your family or friends who can offer financial support.
  • Emotional manipulation: Your partner may use financial control to manipulate or control you emotionally.
  • Limited access to financial resources: You may have difficulty accessing your own money or making financial decisions.

Breaking Free from Financial Domination

If you find yourself in the situation of financial domination then you need to take some actions immediately to break free of ‘Findom’. The very first step is to discuss about this with your partner. There are chances that your partner will motivate you to be financially literate and get out of the ‘Financial Domination’.

Apart from this here are some other strategies to consider:

• • Educate yourself about personal finance: Gain knowledge about budgeting, saving, and investing. This will empower you to make informed financial decisions. Keep regularly visiting OutFinance and be financially empowered and make informed financial decision.
  • Establish financial independence: Build a separate bank account and start saving money. This will give you more control over your finances and make it easier to leave a financially dominating relationship. More of it, it will give you confidence that you can control money and have an idea how money works.
  • Seek support: Talk to friends, family, or a therapist about your situation. They can offer emotional support and advice. You don’t need to hesitate to ask for help.
  • Consider legal advice: If you are concerned about your financial safety or well-being, consult with a lawyer to understand your rights and options.
  • Set financial goals: Determine short-term and long-term financial objectives. This will help you stay motivated and focused on your financial future. Keep in mind, small wins are the most important thing in your long run objectives.
  • Develop a budget: Track your income and expenses to manage your finances effectively. This will help you identify areas where you can save money.
  • Build an emergency fund: Save enough money to cover unexpected expenses, such as medical bills or car repairs.
  • Create a financial plan: Develop a comprehensive financial plan that outlines your goals, strategies, and timeline.

Additional Serious Considerations:

• • Financial abuse: If your partner is using financial control to abuse or manipulate you, it is important to seek help from a domestic violence organization. You can google the helpline numbers or nearest centers for this to visit.
  • Child support: If you have children, be aware of your rights to child support and ensure you are receiving the appropriate amount.
  • Divorce: If you are considering divorce, consult with a lawyer to understand your financial rights and obligations.

Breaking free from financial domination can be challenging, but it is possible. By taking proactive steps and seeking support, you can regain control of your finances and build a healthier, more fulfilling relationship. Relationship is all about be there for each other and supportive to each other, being dominator in the Findom is not something you should proud about, make your partner financially literate and let them be the equal partner in your financial journey.