Financial abuse is a form of domestic violence that can be difficult to identify, as it does not leave physical marks. It is an act of power and control, where one partner uses money to manipulate and exploit the other. Financial abuse can take many forms, from preventing someone from having access to their own money, to taking out loans in their name without their knowledge. Recognizing the signs of financial abuse is key to helping victims and stopping the cycle of abuse.
One of the most common signs of financial abuse is when one partner gives the other “allowances” or “budgets” without their input. This is a way of controlling the victim’s access to money and limiting their independence. Another sign is when the abuser pressures the victim to quit their job or sabotages their work responsibilities. This can be done in subtle ways, such as by making them late for work or sabotaging their relationships with their coworkers.
Another sign of financial abuse is when the abuser feels entitled to the victim’s money or assets. This can include taking out loans in the victim’s name without their knowledge, or using their credit cards without permission. The abuser may also spend the victim’s money without their knowledge, leaving them with little to no access to their own funds.
Other signs of financial abuse include controlling the victim’s access to bank accounts, preventing them from getting a job, or taking away their financial independence. Abusers may also threaten to harm the victim or their family if they do not comply with their demands.
Financial abuse can have serious consequences for victims, leaving them feeling powerless and trapped in a cycle of abuse. Recognizing the signs of financial abuse is key to helping victims and stopping the cycle of abuse. If you or someone you know is a victim of financial abuse, it is important to seek help from a trusted friend, family member, or professional.
