Financial abuse is a form of domestic and family violence and is also sometimes referred to as economic abuse.
Financial abuse can include a variety of things, like controlling and preventing your access to money, forcing you to get loans you don’t want or preventing you from getting a job.
Financial abuse can also occur with other forms of violence and abuse. Financial abuse is not OK. There is support is available to you.
Financial abuse is when someone is controlling with money and assets.
Financial abuse can happen to anyone. It is about their behaviour, not yours.
Financial abuse is a common form of abuse.
Participants in this video are discussing the effects of financial abuse.
Three women who lived with the experience of financial abuse discuss their personal experiences. They discuss their situations pre and post the abuse taking place. Clinical Engagement Manager from 1800 Respect, Inez Carey summarises what financial abuse may look like, and how to reach out for support.
A warning sign common in financial abuse is exclusion from financial decision making as well as exclusion from access to information regarding your or your household’s income.
There will be a pattern to the behaviour where it happens several times. Although you may not be aware of how it began it is common to get progressively worse over time. Sometimes other types of abuse may be happening at the same time. If financial abuse is used to control or scare you, it is a form of family and domestic violence and is not OK.
Financial abuse can happen to anyone, regardless of ethnic background, gender age, ability, or wealth. Even if you are separated or divorced it can happen at any time of a relationship.
It is common for those who have experienced financial abuse to also experience domestic and family violence.
Financial abuse may happen in any relationship, this includes with:
These people don’t have the right to force or pressure you into controlling your finances or your belongings.
Forcing or pressuring to give money to them or others
Taking or controlling your pension, pay or benefits
Making you give them control into your money, payments bank accounts or property
Not giving you access to your own bills, loans or bank account statements (or online banking applications)
Pressuring or forcing you to sell your possessions or even your property
Taking or selling belongings or property without your approval
Pressuring or forcing you to sign legal documents that gives someone the ability to control your money, property or financial decisions
Running debts or taking out loans in your name
Not allowing you to use joint bank accounts for household expenses
Stopping or interfering with your work or search to look for work
Stopping or interfering with your education or your ability to go to school
Forcing you to work and not letting you access your earnings
Not allowing you to pay for essentials you may need such as food, medicine or disability related equipment
Refusing to use their income to help with supporting you and your children (when they are the partner or parent of your children) or contributing to household expenses
Hiding money and assets
Financial abuse can be a form of domestic or family violence. If you or know someone who may be experiencing financial abuse it’s OK to as for help and support