How Does Financial Abuse Take Form Within a Marriage?
There are various types of abuse in relationships. One we see often during the divorce process is financial abuse. Financial abuse in a relationship can take various forms, including:
1. Controlling the finances: One partner taking complete control over the couple’s finances, restricting access to bank accounts, credit cards, or cash.
2. Monitoring spending: Constantly monitoring and scrutinizing the other partner’s spending habits, leading to a lack of financial independence.
3. Withholding money: Refusing to provide funds for basic needs, such as food, clothing, or medical expenses.
4. Sabotaging employment or education: Preventing the other partner from getting or keeping a job or furthering their education to maintain financial dependence.
5. Accumulating debt in the other partner’s name: Using the other partner’s identity to take on debt without their consent or knowledge.
6. Coercing financial decisions: Forcing the partner to make financial choices against their will, causing economic harm.
7. Economic threats: Threatening to leave, divorce, or harm the partner financially as a means of control.
8. Economic blackmail: Demanding money or assets in exchange for not revealing sensitive or damaging information.
It is important to recognize these signs and seek help if you or someone you know is experiencing financial abuse in a relationship.