Even if a teenager only earns a small amount of money for babysitting or is financially supported by parents, the NSPCC says there are red flags to watch for that teenagers are being financially abused.
Research by Surviving Economic Abuse (SEA) found that one in three (36%) girls and young women aged 16 to 24 experienced economic abuse from a partner, and of those, 31% of teenage girls aged 16 to 18 ‘have recently experienced economic abuse’.
In addition, the economic abuse often started within weeks, with 17% of 16 to 18-year-olds saying that it started within the first month of the relationship – more than double the rate of women aged 22 to 24, at 8%.
“Normally around 16 people will start getting part-time jobs, apprenticeships and even regular babysitting,” explains NSPCC helplines service head, Paddi Vint.
“This is the age where young people start to develop some ideas of financial freedom and should be starting to learn about money and finances. It is also the age when partners could start taking advantage.”
The children’s charity warns there are some worrying signs of financial abuse that parents can look out for in their children.
1. Changes in behaviour
“Your teenager may start to become overly secretive,” says Vint. “They may avoid going out on social outings saying they can’t afford them, despite working regular shifts.
“Or they may appear to be spending less money on themselves.”
2. Running out of money
“If parents give pocket money, teenagers could seek it early because they’ve run out of cash,” says Vint. “And if they work, perhaps they don’t have enough money to get to or from work or school, and start asking to borrow money.”
3. Unexplained missing items
“Belongings going missing could suggest the teenager has had to sell their things to give money to their partner,” warns Vint.
4. Splashing out on new clothes
“Alternatively, the young person could start buying lots of new clothes or getting lots of new equipment – that could also be a sign of financial abuse,” adds Vint.
5. Coercive control techniques
General signs of financial abuse can include partners demonstrating coercive controlling behaviours.
The NSPCC’s Vint explains, “Abusers might expect their partner to pay for dates and buy them items, using manipulation techniques like, ‘If you love me, you’d buy me this’.
“Or abusers might openly criticise what partners are spending money on, belittling their choices.”
6. Interfering with job or school
Another red flag is when a partner starts disrupting a partner’s employment or schooling. “An abuser might want to see who their partner is working with, or they might even start to befriend people they work with,” explains Vint.
“They might start calling into their work unannounced, insisting on picking up and dropping off to school or work in a bid to control who they see.”
7. Distancing from workplace
The children’s charity also warns that potential abusers might encourage partners to call in sick to work, demanding they spend more time with them.
“Alternatively, they might demand more money from their partner – and encourage them to take on extra shifts at work,” adds Vint.
8. Financial exploitation
An abusive partner may ask their partner to “mind” money for them. As Vint explains, “They may be asked to set up online digital wallets like Google Wallet or Apple Wallet in their name and have money transferred into it – this is also a sign of financial abuse.”
