Many understand domestic violence as physical or emotional harm; however, economic abuse is a component of domestic violence as well. According to the National Network to End Domestic Violence, economic or financial abuse is often used as a tactic to make victims stay in abusive relationships.
Between 94-99% of domestic violence survivors have also experienced economic abuse, meaning that they have not had access to the family finances, have been prohibited from working, or have had their credit scores destroyed by the abusive partner. Other signs of economic abuse include:
- Sabotaging work or employment opportunities by stalking or harassing the victim at the workplace or causing the victim to lose their job by physically battering prior to important meetings or interviews
- Controlling how all of the money is spent
- Not allowing the victim access to bank accounts
- Withholding money or giving “an allowance”
- Not including the victim in investment or banking decisions
- Forbidding the victim from attending job training or advancement opportunities
- Forcing the victim to write bad checks or file fraudulent tax returns
- Running up large amounts of debt on joint accounts
- Refusing to work or contribute to the family income
- Withholding funds for the victim or children to obtain basic needs such as food and medicine
- Hiding assets
- Stealing the victim’s identity, property or inheritance
- Forcing the victim to work in a family business without pay
- Refusing to pay bills and ruining the victims’ credit score
- Forcing the victim to turn over public benefits or threatening to turn the victim in for “cheating or misusing benefits”
- Filing false insurance claims
- Refusing to pay or evading child support or manipulating the divorce process by drawing it out by hiding or not disclosing assets
The signs and implications of economic abuse are overwhelming so Bright Future Foundation’s Economic Justice Program and advocates are here to support survivors in Eagle County.
Bright Future Foundation’s Economic Justice Program includes:
- Financial education
- Budgeting and financial counseling
- Debt management and consolidation
- Credit management and financial planning
We are so grateful to our partners in this effort including Violence Free Colorado and the Allstate Foundation for their support of the “Moving Ahead Through Financial Management” Curriculum, The Denver Office of Financial Empowerment and Protection for their professional financial counseling to our clients, and Alpine Bank for supporting a match savings program.
If you have experienced financial abuse, call Bright Future Foundation’s hotline at 970-949-7086
