The majority of people who are abused by their significant others are also victims of financial abuse. Three signs of financial abuse are:
Limiting access to money and controlling spending.
Even purchasing groceries is impossible. The abuser will limit the abused partner’s access to money so she cannot afford to live on her own.
Interfering with work.
The abuser will not let the abused get a good paying job. The abuser may show up at work and make a scene or sabotage the abused person’s ability to do her job so she’ll be fired.
Ruining their credit.
The abuser will run up the abused person’s credit card or neglect bills in the abused partner’s name so that her credit rating is ruined. With a bad credit rating, the abused will not be able to even get an apartment.
Allstate Foundation’s Purple Purse initiative was created to help women in this situation. They will help them to take necessary steps to get out of their situation, like:
- Think about your confidence with finances.
- Gain information about assets and liabilities.
- Beginning to save money.
- Seeking financial independence.
Their Moving Ahead Curriculum, created in partnership with the National Network to End Domestic Violence and validated by Rutgers University, gives free, useful tools to help abused people get out.