When people think of domestic violence, they often imagine a person living with a spouse or partner that is physically abusive. Unfortunately, that is only one form of domestic violence. While many people also recognize emotional abuse as another form of domestic violence, individuals often are often not aware of financial abuse, even when they are victims of it. For this reason, it is important that everyone understands what financial abuse is, how to recognize the signs and to have hope that even when it is occurring, there is a way to put an end to it.
Understanding Financial Abuse
Financial abuse occurs when one person limits their spouse’s or partner’s access to money and other financial resources. They do this because it places them in a position of power over the other person. Without access to their own finances, a person becomes much more dependent on their spouse or partner, which provides the abuser with the security of knowing that the other person will not leave them. Many studies have shown that it is usually women that are the victims of financial abuse, although of course it can happen to anyone.
Recognizing the Signs of Financial Abuse
Sometimes, people do not realize that they are a victim of financial abuse. This is often because financial abuse is typically accompanied by physical and emotional abuse, which is much more obvious than financial abuse. Some of the most common warning signs of financial abuse include:...