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Did you know that financial abuse occurs in up to 99% of domestic violence cases? (The Hotline)
Financial abuse is a hidden form of control that traps victims in unsafe relationships by restricting their financial independence. Many survivors don’t even realize they are experiencing financial abuse until they try to leave and find themselves with no money, ruined credit, or no way to support themselves.
In this post, we’ll uncover the different forms of financial abuse, how it keeps victims trapped, and the steps women can take to protect themselves.
What is Financial Abuse?
Financial abuse happens when one partner controls another through money. It often looks like:
✅ Monitoring Spending – The abuser tracks every purchase, demands receipts, and may even give a strict allowance.
✅ Preventing Work or School – The abuser may stop the victim from getting a job, limit their hours, or even get them fired.
✅ Taking Out Credit in the Victim’s Name – The abuser may open credit cards or loans in the victim’s name, leaving them with massive debt.
✅ Withholding Money – The victim is left with no access to cash, accounts, or their own paycheck.
✅ Blocking Access to Bank Accounts – The abuser may keep accounts hidden or demand total control over shared finances.
(Sources: The Hotline, DomesticShelters.org)
Why is Financial Abuse So Effective?
Financial control keeps victims trapped, isolated, and unable to leave without risking homelessness. In fact:
📌 57% of homeless women say domestic violence was the immediate cause of their homelessness. (The Hotline)
📌 Nearly half of domestic violence survivors report that financial abuse was a primary reason they felt they couldn’t leave.
What Can You Do If You’re Facing Financial Abuse?
If you are experiencing financial control in an abusive relationship, these steps can help you start regaining control:
✔️ Document Everything – Keep records of bank statements, credit reports, and any threats.
✔️ Secure Important Documents – Make copies of your ID, Social Security card, and bank info. Store them somewhere safe.
✔️ Create a Safety Plan – Know where to go in an emergency and who can help.
✔️ Consult a Lawyer – A legal expert can help with custody, protective orders, and financial rights.
✔️ Build a Support Network – Reach out to trusted friends, family, or an advocate for help.
✔️ Open a Private Bank Account – If it’s safe, start saving money in a separate account.
✔️ Learn Financial Literacy – Understanding how to manage money can help you gain independence.
Free Resources That Can Help
💡 The Hotline – For general domestic violence information, including financial abuse.
💡 DomesticShelters.org – To help you find a safe place to go.
📌 Need a step-by-step survival plan? The Scary Ex Survival System is our online program for women who believe their life (and their children’s lives) are in danger from an ex-partner. Click here to learn more.
Watch the Full Video on Financial Abuse
📺 Want more details? Watch our YouTube video on financial abuse! Click here to watch now. https://www.youtube.com/watch?v=74u2z1UWskw
📌 Have you or someone you know experienced financial abuse? Share your thoughts or advice in the comments. Your voice matters!
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