Financial abuse is very common, part of 99% of abusive relationships. Still, nobody really talks about it. Everybody knows about physical and emotional abuse, but people seem to be confused about financial abuse. In simple words, financial abuse means one spouse taking control of the other using their own or shared finances.
Financial abuse can begin very gradually, and sometimes when it happens to you, you may not even know it. A challenging thing about such abuses is they do not leave physical marks and thus are difficult to legally prove. Here is where lawyers from Coil Law come for help.
Signs your partner is financially abusive
- Taking financial advantage of you.
When someone takes advantage of your money by spending large sums of it without asking you first, using your credit cards, and asking them to support you financially, it is financial abuse. They may also ask you to give them “loans,” pay their debts, and present other demands. In some cases, the abuser may force you to share your money with them while they refuse to share theirs.
- Not giving access to funds.
If your spouse refuses to give you access to bank accounts and other funds, it is a cause of concern. Being legally married means that any income or asset you and your spouse possess is now shared by both and does not belong to a single person. As their spouse, you have the right to access these funds and know where the money is going.
- Sabotaging your career.
Some people do not want their spouses to work and gain an independent income. So, they may forbid them from taking up a job or working at their current employment. Abusive behaviors can include harassment at the workplace, physical abuse before meetings so they do not perform well, etc. Abusers do this to make sure the victim is financially dependent on them.
- Intense monitoring of your expenses.
Keeping track of money is good for keeping your finances in control. However, if your spouse asks you to provide them with even the smallest receipts after expenditure and descriptions of your spending, it is one of the signs.
- Economic exploitation.
Economic exploitation is a severe form of abuse and requires immediate help from the law. Here, one spouse creates a line of credit under their name without their consent and then refuses to pay bills from the victim’s account or gamble away the money. The victim has no idea of this happening, while their credit card score is ruined.
Initially, you may think that your spouse is just trying to protect you from wasting the finances, but what they are really doing is abusing you. Realizing you are in an abusive relationship can be shocking. However, with the right attorney, you could create an escape plan.