Financial control is a prevalent issue in abusive relationships, with nearly all survivors of domestic violence facing some form of financial abuse. The impact of financial challenges created by this abuse often becomes a barrier for victims to leave or break free from their abusive partner. "Domestic abuse revolves around power and control, and financial matters play a significant role in our lives," explained Ruth Glenn, the president and CEO of the National Coalition Against Domestic Violence.

Recognizing Financial Abuse

Domestic violence is a cycle of behaviors used by one partner to dominate and control the other in an intimate relationship, including economic or financial abuse. Financial abuse involves a pattern of control over financial resources, opportunities, and decisions. The abuser typically takes charge of all financial matters, leaving the victim clueless about their financial situation. Various tactics of financial abuse include preventing the victim from working, withholding access to joint funds, monitoring spending, and coercing debt.

In essence, financial abuse is all about manipulating money and economic opportunities in a way that diminishes the survivor's financial independence. "By doing so, not only does the abuser continue to have power over them, but it also strips the survivor of their ability to envision and control their financial future," Glenn remarked.

The Significance of Financial Autonomy

No one anticipates entering a relationship while preparing for the worst-case scenario, but the statistics are a stark reminder of the prevalence of domestic violence. With millions of Americans impacted by domestic violence annually, it's crucial to recognize the signs early. Financial abuse, in particular, can blindside victims who are unaware of the severity of their situation.

For individuals facing financial abuse or domestic violence, regaining financial independence is pivotal for self-protection. This can be achieved by maintaining steady income, staying informed about shared finances, saving emergency funds, safeguarding personal and financial information, monitoring credit reports, and being vigilant for financial control tactics.

Preparing Financially to Escape Abuse

If you are considering leaving an abusive relationship, prioritizing safety is paramount. Assessing your situation, gathering essential resources securely, creating a safety plan, setting up independent accounts, finding ways to increase income, safeguarding credit, adapting insurance policies, and seeking assistance from domestic violence organizations are crucial steps in financial preparation to escape abuse.

Remember, you are not alone in this journey. National domestic violence hotlines, legal resources, shelters, and advocacy organizations are available to offer guidance, support, and protection as you navigate through this challenging time. Take control of your financial future, rebuild your life, and seek the assistance you need to break free from an abusive relationship.