Financial abuse is a very powerful method of keeping a partner trapped in a relationship. It is a way to keep a victim financially unstable as well as keeping them dependent Financial abuse makes it difficult for a victim to leave an abuser in order to gain safety. After a victim leaves the relationship, the abuser may continue the abuse in an effort to keep that person dependent.
If you think you may be the victim of abuse, please seek help from a Domestic Violence Advocate. If you are local (Fremont of Custer Counties) call us at 719-275-2429. Or you can call your local Crisis Center or the National Hotline at 1-800-799-7233.
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Financial abuse needs to be taken seriously because it occurs in 98% of domestic violence cases. It is coercive and controlling behavior and can be a precursor to more dangerous abuses.
Here are some signs of financial abuse:
Control of how money is spent or giving an allowance
Withholding money for basic needs
Very little access to money, even if it is in a joint account
Taking your money or paycheck
Requiring someone to keep track of purchases
Not allowing your name on bank accounts, land deeds, or mortgages
Forcing someone to turn over their public benefits
Refusing to pay child/spousal support
Hiding assets
Refusing to pay bills in order to ruin victim's credit score
Blocking, interfering, or discouraging victim's employment or education
Sabotaging transportation or childcare to stand in the way of a victim maintaining their job
When victims choose to leave the relationship, they may find that it is hard to gain economic independence, safety, and security in the long term. If they were prohibited from working or the abuser sabotaged childcare or transportation, the victim's sporadic work history can be a detriment to gainful employment. Financial abuse can create ongoing challenges for a victim.
If you are in Fremont or Custer Counties, call Family Crisis Services if you need help or someone to talk with (719-275-2429).