Understanding and Combating Financial Abuse: Part 1

Financial abuse is a form of domestic abuse where one person manipulates and controls their partner's access to financial resources. It can involve a range of behaviours, from controlling the household budget, to preventing a partner from working, to running up debts in their partner's name. Financial abuse can leave victims feeling trapped and powerless. However, there are steps women can take to protect themselves from financial abuse:

1. Maintain Financial Independence: Where possible, maintain your own bank account and credit card. This can provide a safety net and ensure you have access to funds if needed. 

2. Stay Informed: Be aware of your financial situation. Know where your money is going, understand your bills, and keep track of your assets and debts. 

3. Build a Good Credit Score: A good credit score can provide financial security and independence. Pay your bills on time, keep your credit card balances low, and regularly check your credit report for any discrepancies.

4. Seek Employment: Having your own income can provide financial stability and independence. If you're unable to work full-time, consider part-time work or remote work opportunities.

5. Set Financial Boundaries: Have open discussions about money with your partner. Set boundaries and make sure both parties have an equal say in financial decisions.

6. Keep Important Documents Safe: Keep your financial documents, such as bank statements, tax returns, and property deeds, in a safe place. These can be crucial in proving financial abuse.

7. Seek Professional Advice: If you suspect financial abuse, seek advice from a financial adviser or a lawyer. They can provide guidance on how to protect your assets and rights.

8. Reach Out for Support: If you're experiencing financial abuse, reach out to domestic abuse hotlines or support groups. They can provide emotional support, practical advice, and resources to help you escape the situation.

Financial abuse is a pervasive issue that affects countless individuals and can have long-lasting effects. However, by maintaining financial independence, staying informed, setting boundaries, and seeking support, women can protect themselves from this form of abuse.