Learn More About Financial Abuse

Financial abuse is a form of intimate partner violence that involves controlling a person's access to financial resources. It is an insidious form of power and control that can have devastating effects on victims. Common signs of financial abuse include controlling access to bank accounts, preventing a partner from having access to their own money, taking out loans in someone else's name, and forcing a partner to sign financial documents without them understanding the terms. In a safe space, let's discuss how to recognize if you are being financially abused and what to do if you are.

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Financial abuse is a form of intimate partner violence that involves controlling a person’s access to financial resources. It is an insidious form of power and control that can have devastating effects on victims. Financial abuse can take many forms, from controlling access to bank accounts, preventing a partner from having access to their own money, taking out loans in someone else’s name, and forcing a partner to sign financial documents without them understanding the terms.

It’s important to recognize the signs of financial abuse, so that you can take steps to protect yourself. Here are some common signs of financial abuse to look out for:

• Your partner controls access to bank accounts and other financial resources, including preventing you from having access or control of your own money.

• Your partner takes out loans in your name without your knowledge or consent.

• Your partner forces you to sign financial documents without understanding the terms.

• Your partner prevents you from working or taking a job, or forces you to work in order to keep the money they control.

• Your partner pressures or forces you to give them money.

If you recognize any of these signs in your relationship, there are steps you can take to protect yourself.

1. Document the Abuse

Documenting the abuse is the first step to take. Keep track of any conversations, emails, texts, or messages that could be used as evidence of the abuse. Save any financial documents that your partner has asked you to sign and keep copies of any bank statements or credit card bills that show the abuse.

2. Develop a Safety Plan

Develop a safety plan that includes setting aside money, finding a safe place to stay in the event of an emergency, and keeping important documents like driver’s licenses and passports in a safe place.

3. Reach Out for Help

Reach out to a trusted friend or family member and share what is happening. It is important to find a support system in order to get the help you need.

4. Contact the Police

If you are in danger or fear for your safety, contact the police. They can help you get the protection you need.

5. Contact a Financial Advisor

Financial advisors can help you take steps to regain control of your finances and protect your assets.

6. Get Legal Advice

It is important to consult with a lawyer to understand your rights and protect your legal interests.

Financial abuse can have serious and long-lasting consequences, but there are steps you can take to protect yourself. If you recognize any of the signs of financial abuse, reach out for help and take steps to regain control of your finances and your life.