In an article by Sherri Gordon, she explains how victims stay in abusive relationships because they fear not being able to provide “financially for themselves and their children.” Financial security is also recorded as one of the main reasons that women return to the abuser.
Therefore, it is important to identify signs of financial abuse early and for women to protect their financial independence at all costs.
Financial abuse comes in many forms and actions. Below is a summary of what a potential abuser does to control his victim financially.
- Controlling your savings
- Taking your money and using your credit cards without permission
- Offering to help you with your budget or financial decisions to gain access and control over your finances
- Not giving you the full picture of your dual financial situation
- Withholding money, and/or requiring you to ask for money.
For more information on financial abuse, read the full article here.