The way narcissists use money is clearly pathological. In fact, it’s common for this personality profile to go bankrupt and have large debts. However, the most damaging thing is that, due to their influence, manipulation, and wrongdoing, many of those around them up the same way. In addition, they’re usually traumatized by the whole experience.
Many people have suffered financial abuse after an emotional relationship with a narcissist. They’re scenarios in which these figures assume absolute control over the economic accounts of their partners. Furthermore, numerous businesses and companies fail when narcissists are in control.
Narcissistic personality disorder doesn’t just involve low empathy, exaggerated achievement, and an inordinate need for attention and praise. In fact, because of their fantasies of power and need for success, money becomes a form of status for narcissists and a necessary instrument to achieve what they want.
It’s money that motivates many narcissists to bond with others. If they find out that they can obtain certain benefits, they’ll be interested.
Ways narcissists use money
Money gives the narcissist a sense of power and dominance over others. It’s like a drug. However, these men and women don’t think about the good things they can do by being powerful. They’re only interested in appearance, success, renown, and being superior to everyone else. Money is synonymous with social status and that’s what they crave.
The behavior of a narcissist is purely instrumental. Their movements, actions, and relationships are solely based on what they can get from others. This means that their friendships and emotional relationships aren’t usually due to chance or even deep and genuine emotional feelings. In fact, in 80 percent of cases, they have a hidden interest.
Research conducted by the University of South Alabama (USA) claims that narcissists always use money irresponsibly. They make wasteful, dangerous, and volatile investments. The most worrying thing is that due to their low empathy, they don’t mind bringing down others who rely on them.
Therefore, it’s critical to understand the financial behavior of these kinds of people.
Narcissism defines a type of maladaptive personality that has a great impact, both mentally and financially, on those with whom they come into contact.
At first they’re generous, but be careful…
When you meet a narcissist, everything seems perfect. They’re the kinds of personalities who know how to draw others in. This means that the first thing that’ll draw your attention to them is their generosity. They dish out invitations with abandon and won’t allow you to pay for that coffee, dinner, taxi, hotel room…
However, this kind of altruistic behavior soon runs out. There always comes a day when they’ve forgotten their card, or the bank, for bizarre reasons, has blocked their current account. Gradually, you end up covering their expenses.
Financial blackmail: a recurring strategy
The way narcissists use money is clearly manipulative. Once they’ve earned your trust, the demands begin, based on emotional blackmail. They’ll use words like “I’ve done so much for you, and haven’t asked for anything in return”,“You know that I’d do anything for you”, “You know that I’m trustworthy and that I really appreciate you”, and “ I’m only asking you because I don’t trust anyone else”.
They’ll never reveal their economic situation to you (or they’ll lie)
Narcissists are secretive when it comes to their financial affairs. If they start a relationship, they’ll rarely reveal their financial situation. Moreover, they generally resort to deception and the most far-fetched lies in order to appear solvent and status.
Naturally, this is especially serious when it comes to business matters. Many people have entered into agreements and deals with narcissists assuming that they had funds or good contacts. When, in reality, nothing they said was true.
They seek to appear and skimp money on what is essential
The way narcissists use money can be especially damaging if they have a family. In these situations, the way they spend money is ill-advised and dangerous. They won’t invest in basic aspects such as food or in covering basic needs for their children or partner.
The narcissist prioritizes their own social survival above all else. For example, this may involve having a high-end car, good suits, etc. Consequently, it’s really common for debts to appear and for the situation to become excessively complicated with dire consequences.
Most narcissists think they have the right to exercise financial control over their partners. They feel free to spend and even financially ruin others.
Fraud and extortion
As you can probably imagine, the narcissist doesn’t hesitate to cross the boundary into illegal and unethical behavior. They’ll defraud and betray, and commit acts that border on criminality. They also use money punitively, to punish others.
In the relational and emotional context, they’ll usually be friendlier when they’re obtaining an economic benefit. However, when they’re denied financial support, they act vindictively.
Lack of empathy and the way narcissists use money
The narcissist doesn’t mind bankrupting their partners in a company. Nor do they suffer when they exercise financial control over their partner and gradually leave them with no recourse. Their lack of empathy is advantageous for them in this respect because it means they can act without feeling any remorse.
Furthermore, their lack of impulse control and the fact that they see money as an instrument for achieving success and good social status leads them to clearly dangerous behaviors. This isn’t only a risk for the narcissist. Families can also be affected by debt and fraud investigations.
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