What is Financial Abuse?
Exactly what is financial abuse?
Financial abuse, often overlooked and misunderstood, is a form of manipulation where one person takes control over another person's ability to acquire, use, and maintain financial resources. It's a tactic used by abusers to gain power and dominance in a relationship and can have severe emotional and practical consequences for the victim.
Characteristics of Financial Abuse:
Victims often find it challenging to break free from such situations due to the financial dependency created by the abuser. However, recognizing the signs is the first step towards seeking help.
By providing information on financial abuse, our goal is to raise awareness, offer support, and empower victims to reclaim their financial independence. If you or someone you know is facing financial abuse, it's essential to seek professional advice and support.
Financial abuse, often overlooked and misunderstood, is a form of manipulation where one person takes control over another person's ability to acquire, use, and maintain financial resources. It's a tactic used by abusers to gain power and dominance in a relationship and can have severe emotional and practical consequences for the victim.
Characteristics of Financial Abuse:
- Control Over Resources: This includes the perpetrator taking complete control over budgeting and all monetary resources, often denying the victim access to their own funds.
- Restricted Access: The victim might find their access to joint bank accounts limited or entirely cut off.
- Monitoring Expenditure: The abuser might supply an inadequate allowance to the victim, keeping a stringent check on every penny spent.
- Career Sabotage: The abuser may prevent the victim from working or even go to the extent of sabotaging their job opportunities.
- Misuse of Funds: Taking the victim’s salary without their consent or using their credit card without permission.
- Identity Theft: Fraudulently using the victim's identity to secure credit, further trapping them in a cycle of debt.
- Refusal to Contribute: The abuser might deliberately avoid working or contributing to shared household expenses, making the victim financially strained.
Victims often find it challenging to break free from such situations due to the financial dependency created by the abuser. However, recognizing the signs is the first step towards seeking help.
By providing information on financial abuse, our goal is to raise awareness, offer support, and empower victims to reclaim their financial independence. If you or someone you know is facing financial abuse, it's essential to seek professional advice and support.
