Abuse is more than just physical violence.
Research shows that other forms of abuseincluding financial abuseoccur just as frequently inunhealthy relationships.
Older research has suggested that 99% of domestic violence cases also involved financial abuse.
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However, estimates about the prevalence of economic abuse vary.
Some studies indicate that the prevalence rates in the U.S. range from 52% to 98%.
At a Glance
Financial abuse is often the first sign of dating violence and domestic abuse.
That’s why identifying financial abuse is critical to your safety and security.
It is characterized by attempts to control, use, or manage your financial resources.
What Exactly Is Financial Abuse?
Financial abuse involves controlling a victim’s ability to acquire, use, and maintain financial resources.
Financial insecurity is also one of the top reasons women return to an abusive partner.
Men can be victims of abuse as well.
This financial dependence traps them in the relationship.
Without resources, they are unable to see a way out of their situation.
Below is an overview of the way financial abuse is perpetrated.
Some abusers may use all of these tactics while others may only use one or two.
Regardless of whether the abusive person is using one tactic or 10, it’s still considered financial abuse.
Here are some ways in which people are abused financially.
Here are some examples of this exploitation:
Financial abuse can take many forms.
People may have their own money restricted or stolen by the abuser.
Rarely do they have complete access to money and other resources.
When they do have money, they often have to account for every penny they spend.
Here are some examples of job interference.
Here are some examples of controlling shared resources and assets.
Devastating Effects of Financial Abuse
The effects of financial abuse are often devastating.
It’s important to remember that financial abuse is often accompanied byemotional abuse.
This can also undermine a person’s ability to deal with the situation.
And if they need to leave the relationship permanently, finding safe and affordable housing is challenging.
They also struggle to provide necessities like food, clothing, and transportation.
Financial abuse also has long-term effects.
Consequently, it’s tough for them to establish independence and long-term security.
In fact, many victims stay with or return to abusers due to concerns about financial stability.
Financial abuse can also have other long-term effects, including problems withself-esteemand problems withtrust in relationships.
Leaving the relationship is often the best solution.
after you grab changed these, do not share them with anyone else.
Open a new account and hide cash where your abuser cannot find it.
Find Support
Talking to trusted loved ones can provide support, care, and encouragement.
Find out what they are comfortable with and what would work for their specific situations.
Financial abuse is not something that gets better with time.
In fact, it often escalates and can lead to other types of abuse.
The key is to address financial abuse right away.
For more mental health resources, see ourNational Helpline Database.
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