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5 signs of financial abuse

Khanh Nguyen
|
February 18, 2022
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5 signs of financial abuse

1 in 6 adults in the UK have experienced economic abuse at some point, and 1 out of 3 that suffer from economic abuse don’t confide in others about their experiences.

Although being very common, it’s not as well-recognized as other forms of abuse like hitting, shoving, or verbal threats of harm.

“I’d never fall for it”, you might think. No victim wakes up in the morning thinking they were gonna give away all their money. Instead, it’s the result of a painstaking grooming process - financial abuse happens very slowly over time and abusers often appear really trustworthy at first which is why it's important to notice the signs.

5 most common signs of financial abuse

1. Calling all the shots

They decide how you should spend your own money. They make you ask for permission to buy things you need and you have to explain every penny you've spent.

You never know what resources they have, or what’s happening with shared money.

2. Not supporting your career

They tell you where you can/can't work or discourage you from taking new career opportunities.

3. Racking up debt and leaving you to pay it off

They pressure you to pay for things and take out loans for them because they have "emergencies".

4. "Helping you manage your money" by transferring your assets to their name

And threaten, abuse or otherwise coerce you if you refuse.

5. Making poor financial decisions under your name

They run up bills on your credit card and take out loans under your name, which terribly affect your credit score.

Note that every example here is a red flag in a relationship. You don’t have to recognize all of these signs for you or someone you know to be in an abusive relationship 🚩

Where to get help

If you’re in immediate danger, call the police at 999.

If you’re not in danger but have worries about your safety, you can call the National Domestic Abuse Helpline on 0808 2000 247 (24-hour) or the Men’s Advice Line on 0808 801 0327 (Mon–Fri 9am-8pm). Many high street pharmacists – including Boots, Superdrug and Morrisons – have made pharmacy consultation rooms available as safe spaces for people experiencing domestic abuse who need to get help in total confidence.

Find lots more useful information and organisations to support on the Surviving Economic Abuse website.

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