By: Hannah Jagiri

Financial Abuse is a form of domestic violence that often goes unnoticed yet leaves lasting scars on Victims’ lives. It occurs when one partner controls the other’s financial resources, leading to dependency and power imbalances. Recognizing the signs of Financial Abuse is crucial for breaking the cycle and supporting those affected.

Understanding Financial Abuse

Financial Abuse involves an array of manipulative tactics one partner uses to control the other’s finances. It can manifest in various ways, such as limiting access to money, controlling spending decisions, withholding financial information, or forcing the Victim to be financially dependent. This form of abuse transcends socioeconomic boundaries and can affect anyone, regardless of gender or income level.

Recognizing The Signs

1. Strict control over finances: Perpetrators of Financial Abuse often dictate how the Victim spends their money, withhold access to funds, or give an inadequate allowance.

2. Monitoring and restricting: An abusive partner may closely monitor the Victim’s financial transactions, including scrutinizing receipts and statements, or setting strict budgets.

3. Forbidding work or education: Preventing the Victim from pursuing employment or education can maintain dependency and restrict their financial independence.

4. Coerced debt and financial ruin: Abusers may manipulate Victims into accumulating debt or ruin their credit by misusing their personal information without consent.

5. Sabotaging employment opportunities: Hindering the Victim’s career growth, such as interfering with job interviews or causing disruptions at work. This interference is another tactic used to maintain control.

6. Forced signing of financial documents: Coercing the Victim into signing legal documents, such as loans or contracts, without their knowledge or consent, is a severe form of Financial Abuse.

What’s Next?

If you suspect that you or someone you know is experiencing Financial Abuse in a relationship, it is crucial to seek help and support. Connect with domestic violence helplines, local authorities, one of our Norm Therapists®, or trusted friends and family members who can assist. Educating oneself about financial literacy and seeking guidance from professionals such as therapists, counselors, or financial advisors can help Victims regain control over their finances and their independence.

Conclusion
Financial Abuse can devastate Victims, often leaving them trapped in toxic relationships. By recognizing the signs of Financial Abuse, we can empower individuals to break free from the cycle of control, rebuild their lives, and foster healthy relationships constructed on trust, respect, and equality.

References

What is Financial Abuse. (n.d.). The Hotline. https://www.thehotline.org/resources/what-is-financial-abuse/

What Is Financial Abuse & How Can We Help Victims? (n.d.).NNEDV. https://nnedv.org/latest_update/financial-abuse/

Financial Abuse. (2017, January 26). WomensLaw.org. https://www.womenslaw.org/about-abuse/forms-abuse/financial-abuse