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Financial Abuse

Email Hotline

June 18, 2025 | Return to REACH Hub
Ver la página en Español: Abuso financiero

Discussions about abuse often focus on physical or emotional harm, but there’s another form that’s just as damaging yet less visible – financial abuse. It can occur in various relationships, including intimate partnerships, families, and even friendships. Financial abuse is a manipulation tactic used to gain control over someone’s economic resources, ultimately limiting their independence and freedom.

It is important to recognize the signs and understand the impact of this serious, yet often overlooked, form of abuse. As awareness of financial abuse grows, there are more specialized economic empowerment programs available to help survivors regain power and control and build stronger financial futures.

Forms of Financial Abuse

Financial abuse can take many forms, including:

  • Control over financial resources: The abuser may take complete control of the household finances, leaving the survivor with no access to money or financial information. This control can extend to withholding money, stealing resources from the survivor, or forbidding them from having a bank account.
  • Interference with employment: Abusers may sabotage the survivor’s job prospects by preventing them from working, harassing them at their workplace, or forcing them to quit their job, impacting the survivor’s earning potential and professional growth.
  • Accumulating debt in the survivor’s name: Abusers may coerce survivors into taking on debt or opening credit accounts, which can damage their credit scores and create long-term financial instability.

The Impact on Survivors

The effects of financial abuse are profound and extensive, affecting survivors on multiple levels, such as:

  • Economic dependence: Survivors often find themselves financially dependent on their abusers, which can hinder their ability to leave the relationship. Without financial resources or knowledge of the household finances, survivors may feel trapped, believing they have no means of supporting themselves or their children independently.
  • Long-term financial instability: Even after leaving an abusive relationship, survivors may face significant financial challenges. Poor credit scores, accumulated debt, and lack of work experience can make it difficult for them to secure housing, find employment, or access loans. This long-term financial instability can perpetuate a cycle of poverty and dependence.
  • Emotional and psychological impact: Financial abuse can erode a survivor’s self-esteem and sense of autonomy. The constant stress and anxiety of managing limited resources, combined with the fear of financial ruin, can cause depression and anxiety. Survivors may also experience feelings of shame or guilt, believing they are to blame for their financial situation.

Support and Resources for Survivors

Understanding the complexities of financial abuse is the first step in providing effective support for survivors. Once you identify financial abuse, you can connect survivors with specialized programs and services to help them address the effects of financial abuse and build their self-sufficiency. Here are ways to help:

  • Financial education and access to financial resources: Empowering survivors through financial education and resources is crucial for helping them regain control of their financial lives. Workshops focused on budgeting, credit repair, and financial planning can provide essential skills for achieving financial independence. Check out these resources to learn more:
    • NNEDV’s Independence Program offers credit-building microloans to survivors of financial abuse, aiding them in establishing or enhancing their credit.
    • The Moving Ahead workbook by The Allstate Foundation addresses various key financial subjects, including budgeting, debt management, and credit improvement.
    • FreeFrom is dedicated to supporting survivors in their journey toward economic freedom, offering programs such as an emergency safety fund, a savings matching initiative, and financial coaching.
  • Legal support: Legal assistance can be crucial for survivors dealing with financial abuse. A lawyer may help someone navigate issues such as debt relief, credit repair, securing child support or alimony, or suing an abuser for money. Also, in some states, certain types of economic abuse involving identity theft, destroying or stealing the victim’s property, and coercive control may be reasons for getting a domestic violence restraining order. To learn more about the legal options for addressing financial abuse, go to the Financial Abuse section on WomensLaw.org.
  • Community and counseling support: Support groups and counseling services can give survivors a safe space to share their experiences and connect with others who have faced similar challenges. Emotional support is vital in healing and rebuilding confidence.

For more help, use the WomensLaw Email Hotline to ask questions and get personalized information and referrals about financial abuse or any form of abuse.