Financial or Economic Abuse

Financial abuse is when an abuser takes control of the finances to prevent the other from leaving and to maintain power and control in the relationship. The abuser may take control of all the money, withhold it and conceal financial information from the victim. The Center for Financial Security defines financial abuse as “controlling a person’s ability to acquire, use and maintain economic resources.”  This is a common tactic used by abusers to obtain and maintain power and control in the relationship.

Indicators of Financial Abuse

Controlling Finances: The abuser may exert control over all financial matters, including income, expenses, and savings. They might limit the victim’s access to money or bank accounts.

Withholding Information: The abuser intentionally hides financial information from the victim. This could include not sharing account details, bills, or financial statements.

Forbidding Work or Education: The victim may be prevented from working or pursuing education, limiting their financial independence.

Forcing Debt: The abuser might accumulate debt in the victim’s name without their knowledge or consent, leaving the victim responsible for repayment.

Stealing Money or Property: Taking money, valuables, or property from the victim without permission.

Sabotaging Employment: The abuser may interfere with the victim’s job by causing disruptions, making them late, or preventing them from attending work.

Using Threats: Threatening to harm the victim financially (e.g., destroying credit, ruining their reputation) if they don’t comply with the abuser’s demands.

Isolating the Victim: The abuser isolates the victim from friends and family, making it harder for them to seek help or financial support.

Monitoring Spending: Constantly monitoring the victim’s spending, questioning purchases, or demanding receipts.

Forcing Joint Accounts: While joint accounts can be healthy, an abuser may force the victim into one to maintain control over finances.