Financial Abuse Explained
Financial abuse is another method used by abusive people to exert power and control over their partners. Domestic violence survivors may have limited or no access to financial resources, creating additional barriers in leaving a violent relationship. It is estimated that 99% of survivors report experiencing some form of financial abuse. Additionally, lack of financial resources compels survivors to return to abusive relationships. Here is a list of common ploys used by people who harm:
- Withholding money
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Stealing money or account information
- Restricting finances
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Making all the financial decisions without consulting their partner
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Refusal to support the family with basic needs such as, food, shelter, clothing, medications
- Refusal to pay utility bills
- Opening and using credit cards under their partners name without their consent
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Forcing partners to co-sign a loan
- Interfere with performance at work to get them fired, such as frequent calls, texts, or visits
- Preventing partner from accessing school or employment
- Forcing partner to work in a family business with little or no pay
- Pushing partner to sign a power of attorney so they can sign legal documents without their partner’s knowledge
Financial abuse leads to bad credit, evictions, limited job skills, debt, poverty, and homelessness. Survivors need social service organizations that can help them with affordable housing, job skills, financial education, counseling, basic needs, and legal advocacy to resolve the financial harm caused by their abusive partner.
