Financial Abuse is a form of abuse in which the abuser has control over the economic resources of the abused. Financial abuse can be a part of both Elder and Domestic Abuse. Examples of Financial Abuse include: using physical force to get money, spending someone else’s money without their consent, and prohibiting someone from getting (or quitting) a job. Although Financial Abuse is prevalent and almost always present in abusive domestic relationships, it is less recognized as abuse than Domestic Abuse (Zeiderman, 2021). Here are some myths and facts about Financial Abuse.

Myth: Financial Abuse only happens to people in low-income households.
Fact: Financial Abuse can happen to anyone, regardless of socio-economic background.

Myth: Financial Abuse only happens to people who don’t know how to manage their finances.
Fact: Financial Abuse is about controlling others’ finances through manipulation, regardless of the abusee’s ability or knowledge (Money, 2021).

For more information on Financial Abuse, visit our website and the sources below. If you want to help ARO support abuse survivors, please consider donating.

References
Money, W. a. (2021). What is financial abuse? Retrieved from Women and Money: https://www.womenandmoney.org.au/what-is-financial-abuse/
Zeiderman, L. (2021, February 17). Financial Abuse: What It Is, What to Do if You’re a Victim. Retrieved from Psychology Today: https://www.psychologytoday.com/us/blog/legal-matters/202102/financial-abuse-what-it-is-and-what-do-if-youre-victim