Economic and Financial Abuse

Economic or financial abuse is one type of domestic violence. It shows up when the husband or partner refuses to allow his spouse to take part in financial decisions. He tells her or implies that women are inferior. He says they don’t have the intelligence or skills to handle finances.

He insists on keeping the checkbook and all financial records without letting her keep up to date with their financial status. Should he pass away first, she would have no idea how to pay bills, how to keep a checkbook, and how to handle the economic situation. She probably wouldn’t even know where he kept the checkbook and financial records.

He usually refuses to let her work outside of the home. If she does work, he belittles her job and her education and has her turn over her paycheck to him.

Without her knowledge, he will apply for credit cards and checking accounts, place her name on them, and make investments.

He may give her one check and fill in the information for her. If he gives her an allowance, he will most likely demand a full account with receipts of how she spent the money. However, he feels no obligation to give her an account of anything he does.

When it comes to his retirement fund, he will make full regular payments. If he talks to her about her retirement fund, he will suggest she put in a meager amount. He knows it won’t ever amount to much, and this will allow him to continue his power and control over her.