A woman must understand money and use it wisely to gain independence. However, it is essential for women also to understand economic abuse. Relationships can be a source of financial abuse because we are both told that money is something men should control and that couples should share their resources, including bank accounts. One out of five adults in the UK has experienced economic abuse, with sixty percent being women. Signs of economic abuse can be the secrecy of finances, independent accounts, if they suggest you quit work, keeping tabs on what you spend, putting your name on products they buy, and they ask you to pay for more and more things. Recognizing these signs of economic abuse can help you avoid it.
- Economic abuse was first recognized in law only this year.
- The abuse occurs when one partner exploits or sabotages another partner’s finances for the sake of control.
- Warning signs include a partner who is secretive about finances or keeps close tabs on you.
“I was amazed to see that she was so clearly a victim-survivor of economic abuse, but she didn’t mention that phrase once.”