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Category: News

April 4, 2014

Financial-abuse FullEach year, millions of Americans are affected by domestic violence and nearly all (98%) are also affected by financial abuse, a tactic used by abusers to gain power and control over their partners by limiting access to assets or concealing information about family finances. Financial abuse – along with emotional, physical, and sexual abuse, manipulation, intimidation, and threats – is intentional and is used by an abuser to trap their partner in the relationship.

The signs of financial abuse can be subtle – like not including the victim in investment or banking decisions – or overt, when abusers forbid the victim from working, withhold money, or provide the victim with an “allowance.” Financial abuse is less commonly understood, but is one of the most powerful methods to keep a victim in an abusive relationship and deeply diminishes the victim’s ability to stay safe after leaving.

This April, which is recognized as Financial Literacy Month, NNEDV and the Allstate Foundation are standing together to say “No More!” to financial abuse.

One way that we can all say No More is by learning more about financial abuse – the signs of a financially abusive relationship and how we can support survivors. It’s time to Know More about financial abuse, arm ourselves with the knowledge needed to build healthy financial futures, and educate our communities about the steps needed to access safety and security.

Since 2005, NNEDV and Allstate have been working together to help survivors move toward long-term safety and financial security. The Moving Ahead Through Financial Management curriculum was developed to help victims understand their financial circumstances and create short-term and long-term plans to move forward. It covers the basics – financial abuse, financial fundamentals – as well as more in-depth topics like Mastering Credit Basics, Building Financial Foundations, and Creating Budgeting Strategies. 

As with all forms of abuse, financial abuse can affect any person at any time – regardless of a person’s age, race, education level, or gender. Learn more, so that you know the signs of abuse and can pass along the knowledge to help others. Visit NNEDV’s Economic Justice Project page for more information.

Concerned about financial abuse, but aren’t sure if you’re being abused? Learn more about the signs of financial abuse from WomensLaw.org

Check back to nnedv.org throughout the month for more information about financial abuse and ways that you can say No More! (We will also be sharing this information on Facebook, Twitter, Google+, and Pinterest!)

 

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