Domestic violence is not just physical. It can also include emotional, psychological, and financial abuse. Financial abuse in a marriage can be just as damaging as physical violence, leaving victims feeling powerless and trapped.
Red flags to look out for
Financial abuse can be subtle and may go unnoticed for a long time. Here are some signs to watch for:
- Controlling all finances: Your partner controls all the money and gives you a strict allowance or no access to funds.
- Monitoring your spending: They closely monitor your spending, questioning every purchase and demanding receipts.
- Restricting access to financial information: You cannot access bank accounts, financial statements, or any information about household finances.
- Sabotaging employment: They prevent you from getting or keeping a job by interfering with your work or creating obstacles.
- Accumulating debt in your name: Your partner takes out loans or credit cards in your name without your consent, damaging your credit score.
- Withholding financial support: They refuse to provide money for basic needs like food, clothing, or medical care.
- Forcing financial decisions: This includes coercing you to make financial decisions that benefit them but harm you.
Recognizing these signs can help you understand if you are experiencing financial abuse. If you identify with any of these examples, taking steps to protect yourself is important.
Reclaim control of your finances
If you know what is happening, there are ways to regain control. In addition to reaching out to friends and family members, you can start gathering evidence. This includes financial documents and communication that implies abuse.
Furthermore, you would want to open a separate bank account to secure your money. If you do not feel safe and feel like the abuse can get physical, you may reach out to a domestic violence hotline for advice and resources. You may also consider obtaining a restraining order or other legal protections to safeguard your finances.
If you suspect that you are a victim of financial abuse, it is crucial to seek professional help. Reclaiming your financial independence is vital for a safer and more secure future.