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Financial Abuse

Overview

Finances can be a stressful factor in any relationship. When there are intermingling finances, mortgages/rent, bills to be paid and considerations to be made about saving for the future, money can become a powerful source of conflict. In healthy relationships, each partner will have a say when making financial decisions.

​In a relationship where some form of abuse is present whether it is physical or emotional, it’s not uncommon that an abusive partner extends their power and control into the area of finances. This is known as financial or economic abuse and it can be very difficult to recognise. An abuser may tell their partner what they can and cannot buy or they may restrict a partner’s access to bank accounts.

Financial abuse can take many different forms, including:​

• Giving their partner an allowance and closely monitoring how their partner spends the money and demanding the receipts for all purchases
• Preventing a partner from viewing or having access to bank accounts or bank details
• Taking out credit cards in their partner’s name without permission or not paying the bills on credit cards, which could ruin their partners credit score rating
• Using funds from children’s savings accounts without their partner’s permission
• Refusing to give their partner money for food, clothing, utility bills or medicine
• Living in their partner’s home but refusing to work or to contribute to the households cost
• Making their partner give them their tax returns or confiscating joint tax returns
• Stealing money from their partner or their partner’s family/friends
• Placing the partner’s pay check in their bank account and denying them access to it
• Forbidding their partner to work or limiting the hours that they can work

When an abusive partner is controlling the finances, planning for an independent future without them can feel difficult. Thankfully, there are many organisations that advise and support people who are victims of financial abuse. Services and organisations can help create plans that will support a victim who is attempting to leave and can also help them become economically stable and self sufficient after leaving an abusive relationship.​

No one has the right to prevent you having access to the money that you earn. If your partner is acting in any of these ways, make contact to local authorities or banks that are dealing with abusive situations effectively.

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​If you need any further support, contact our friends at Yorkshire Bank and speak to the dedicated financial care team, who will help you manage any debts and help you take back control of your finances.

The Details

The Care Act 2014 describes ‘financial abuse‘ as a type of abuse which includes having money or other property stolen, being defrauded, being put under pressure in relation to money or other property and having money or other property misused.26 Oct 2018

Financial abuse is an aspect of ‘coercive control’ – a pattern of controlling, threatening and degrading behaviour that restricts a victims’ freedom.
It’s important to understand that financial abuse seldom happens in isolation: in most cases perpetrators use other abusive behaviours to threaten and reinforce the financial abuse.

Financial abuse involves a perpetrator using or misusing money which limits and controls their partner’s current and future actions and their freedom of choice. It can include using credit cards without permission, putting contractual obligations in their partner’s name, and gambling with family assets.

Financial abuse can leave women with no money for basic essentials such as food and clothing. It can leave them without access to their own bank accounts, with no access to any independent income and with debts that have been built up by abusive partners set against their names. Even when a survivor has left the home, financial control can still be exerted by the abuser with regard to child maintenance.

Sadly the vast majority of survivors experience financial abuse at some point.

What is economic abuse?

Economic abuse is wider in its definition than ‘financial abuse’, as it can also include restricting access to essential resources such as food, clothing or transport, and denying the means to improve a person’s economic status (for example, through employment, education or training). The charity Surviving Economic Abuse describes it in the following way:

“Economic abuse is designed to reinforce or create economic instability. In this way it limits women’s choices and ability to access safety. Lack of access to economic resources can result in women staying with abusive men for longer and experiencing more harm as a result.” 

The impact

As reported in The Domestic Abuse Report 2019: The Economics of Abuse, we surveyed 72 survivors and found that:

  • Nearly a third (31.9%) of respondents said their access to money during the relationship was controlled by the perpetrator
  • A quarter of respondents said that their partner did not let them have money for essentials during the relationship
  • A third of respondents had to give up their home as a result of the abuse or leaving the relationship and nine found themselves homeless as a result of leaving
  • 43.1% of respondents told us they were in debt as a result of the abuse and over a quarter regularly lost sleep through worrying about debt
  • 56.1% of our sample who had left a relationship with an abuser felt that the abuse had impacted their ability to work and over two fifths of all respondents felt the abuse had negatively impacted their long-term employment prospects/earnings. 
 
Why is it important to address financial abuse?

The manipulation of money and other economic resources is one of the most prominent forms of coercive control, depriving women of the material means needed for independence, resistance and escape.

  • It’s a barrier to leaving: Lack of access to economic resources is a reason why many women feel that they have no choice but to stay with an abuser.
  • Increased risk for the survivor: Economic barriers to leaving can result in women staying with abusive men for longer and experiencing greater danger, injuries and even homicide as a result.
  • A barrier to an independent life: Economic abuse doesn’t rely on physical proximity, so can continue after separation. Women are often left in debt and the lack of financial security impacts on their ability to rebuild their lives after leaving. (Women’s aid)

Books related to Financial Abuse

Unf*ck Yourself: Get out of your head and into your life

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The Law Relating to Financial Crime in the United Kingdom, 2nd Edition (The Law of Financial Crime)

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