WHEN you are defining the term “abuse”, do you ever consider financial abuse in those definitions? Often, when I listen to people discuss abuse, I rarely ever hear them mention the category of financial abuse. That can be for a lot of different reasons. Perhaps people are unfamiliar that a person can be financially abused, or they simply do not accept this as a type of abuse. Whatever the reason may be, there are many studies and statistics to prove that people all across the world are being financially abused. For me, the first thing that comes to mind is when the elderly have their money or assets taken away from them without their consent. As with most cases of abuse, financial abuse also entails a struggle or imbalance of power.

Financial abuse can be overt or very unnoticeable. It is a form of family violence. Universally, I do not think enough people speak about the damaging effects financial abuse has on the victims. This is quite a powerful method that is used to “trap” victims by making them stay in an abusive relationship. Studies have shown that in 99% of the domestic violence cases that occur, financial abuse is also present. Contrary to the belief that only impoverished people can be victims of financial abuse, this form of abuse does not only affect a specific target population. In most cases, financial abuse occurs in romantic relationships where an abusive partner restricts and limits their partner’s access or ability to spend money. The “allowances” will be fewer and fewer as months go by, and the victim is often forbidden from being employed.

The abuser may use manipulation, fear tactics or even physical abuse to force these ideologies onto the victim if they do not comply. Some cases are often so extreme that even access to purchase food or visit a doctor is affected. Most times, victims are unable to leave these abusive relationships because of their lack of finances, assets or even education on financial independence and literacy. Most times, when victims leave their homes they’re either forced into a shelter or they return to their abusive partner where homelessness is not a concern. This is a key issue that needs further attention on all levels. Money gives one a sense of security and stability. Abusers use it as a tactic to control victims. If victims don’t abide by or obey them, they lose that sense of security or stability by receiving limited or no money.

This creates an unhealthy dependency. Financial abuse may also come in the form of leaving people in debt unknowingly, stealing the victim’s property, false insurance claims, evading child support or refusing to pay bills. It is not black and white. There are many ways that people can become victims of financial abuse. As such, I am pleading with you all to consider spreading awareness of what financial abuse is and let victims realise that they are indeed victims. Money is used as a powerful tool of control and oppression, and I hope that financial abuse in all of its forms is addressed effectively and efficiently at all levels.