Narcissists can be grandiose when it comes to self-serving, unnecessary spending (i.e., buying a designer watch they can't afford), but skimp on the essentials (i.e., food, health expenses, basic household items).
They commonly regift items, leave their wallets at home, or refuse to share. Because they don't adhere to social norms, they don't care if people are affected by their cheapness. It's no wonder most narcissists don't have close friends. Narcissists, however, may show off their wealth to other people.
Subsequently, when it comes to their strange relationship with money, most narcissists make their own rules and play their own games. Some narcissists are objectively wealthy. But many of them are struggling, and understanding the narcissist and money problems can be paramount for your well-being.
Hiding assets.
They go to great pains to hide marital assets, sometimes setting up secret accounts, “lending” money to friends, or stashing cash in safe-deposit boxes. Because they're so grandiose, they don't believe they'll ever get caught.
Final Thoughts on the Red Flags of a Narcissist
Narcissistic individuals often exhibit traits such as a lack of empathy, manipulative behavior, and an inflated sense of self-importance. It's essential to understand that dealing with a narcissist can be draining and challenging.
Because money and material wealth are highly important to narcissists, they often become a focal point of their relationships—sometimes resulting in financial abuse.
Generally, narcissists are very frugal with their money and defensive with it. When it comes to their possessions, they don't give them freely. There is, however, more to this greed than self-preservation. Due to their lack of empathy, narcissists may not understand the benefits of sharing their resources.
Controlling access to funds: The narcissist may control the access to joint bank accounts, credit cards, or other financial resources, leaving their partner without access to the money they need to live.
It is all part of the entitlement they feel. So yes, they are stingy. And this is not even the worst of it- when they lie, and cheat, and break hearts in a cruel way, and treat people abysmally, it is much worse. That is why everyone should know the basics about narcissism.
Narcissistic parents are often emotionally abusive to their children, holding them to impossible and constantly changing expectations. Those with narcissistic personality disorder are highly sensitive and defensive. They tend to lack self-awareness and empathy for other people, including their own children.
The root of the disorder is actually a strict resistance to feeling vulnerable with anyone at any time. Here's a lay description of how it works: The narcissist does not truly trust others in close relationships.
We pitted two major theories against each other: social learning theory and psychoanalytic theory. Social learning theory holds that children are likely to grow up to be narcissistic when their parents overvalue them: when their parents see them as more special and more entitled than other children (9).
Emotional reactions
So when they encounter a piece of information about narcissism they immediately might feel exposed, ashamed, betrayed, or attacked. Moreover, they often take things very personally and think that everything is about them.
Narcissists' strong desire to achieve and display status likely leads to higher levels of materialism. Furthermore, those high in narcissism possess an inflated, yet fragile, sense of self-esteem and become dependent on social sources for affirmation (Morf & Rhodewalt, 2001).
Embezzling Cash
Narcissists may take out cash advances on credit card accounts or other lines of credit. They may spend it shortly thereafter, or sock it away into a secret bank account, or maybe stash it in a secret hiding spot somewhere in your home.
Narcissists use sex and the pretence of emotion to control others. They like to be in control, and often derive pleasure from giving or withdrawing sex or affection to this end. 10. Narcissists are not really capable of feeling guilty, and feel no shame about lying if they think that it will get them what they want.
You're Stuck Financially
If there's one thing that narcissists know how to do well, it's to take advantage of their spouses financially. You might be paying for everything while your partner can't hold down a job, or their job might be bringing in a lot of income but they're not letting you see any of it.
Since narcissists are very interested in social status and influence, they use acts of generosity to appear noble and kind. Some examples of this are narcissists who donate their money, goods, or time.
It is common for people with a narcissistic personality disorder to regret discarding or losing someone, but it does not mean what you might think. If they feel regret, it is not because they hurt you. It is for losing something that they value. You are a possession, not a real person.
A monumental weakness in the narcissist is the failure to look internally and flesh out what needs to be worked on. Then, of course, the next step is to spend time improving. The narcissist sabotages any possibility of looking deep within.
“To what extent do you agree with this statement: 'I am a narcissist.'”