Highlighting Financial Empowerment & the Allstate Foundation Annual Purple Purse Challenge
July 19, 2017
Financial abuse is one of the most powerful tools an abuser can use to maintain power and control in a relationship, and is present in almost all cases of domestic violence. Both the short- and long-term effects of financial abuse can be devastating for survivors of abuse. A short-term effect, such as limited financial assets renders survivors unable to obtain safe and affordable housing, or provide basic needs for themselves or their children. Long-term, financial abuse can result in ruined credit scores, lack of employment experience, and various legal issues such as identity theft. As a result, achieving financial independence can seem impossible to victims of financial abuse.
According to the 11th Annual Domestic Violence Counts Report, in just one day, over 41,000 adults and children found housing in emergency shelter or transitional housing. However, almost 8,000 requests for safe housing were not met due to limited funding and resources. In California, a woman with two small children was not able to find emergency housing because all nearby shelters were full. Her abuser was away on a work trip, and she was afraid that if she could not find space in a shelter, her family would be forced to stay with the abusive partner until another opportunity came for them to escape. The threat of homelessness is often what forces survivors to stay with an abuser.
To address, respond, and prevent financial abuse, NNEDV’s Economic Justice project works to empower and support a survivor’s journey to achieve financial autonomy through strengthening their financial capabilities, assisting in rebuilding credit scores, and keeping advocates fully informed about personal finance tools, resources, and the most recent research pertaining for financial education. In partnership with The Allstate Foundation Purple Purse, NNEDV delivers financial literacy information with tools like the Moving Ahead Through Financial Management curriculum.
This October, Allstate will partner with over 250 nonprofit organizations for its annual Purple Purse Challenge. This fundraising challenge is aimed to assist organizations in providing financial empowerment services to survivors. Through this program, nearly $5.5 million has been raised for domestic violence programs since 2014. To join the cause, visit the Purple Purse Challenge website and complete the online application by August 1st, or email Foundation@Allstate.com with any questions.
To learn more about financial abuse and Allstate Foundation Purple Purse, visit: http://purplepurse.com/