10/12/2024
💬 What is financial abuse?
When we think of abuse, we often think of physical or emotional harm. But did you know that financial abuse can be just as damaging? According to Movisie, financial abuse is common, especially among vulnerable groups such as older adults or people in dependent relationships. It is a subtle yet powerful way to exercise control over someone.
How does it work?
Financial abuse occurs when someone controls your money, property, or economic freedom. This can happen through:
Restricting your access to your own money.
Forcing you to hand over your income or assets.
Preventing you from working, making you financially dependent.
Imposing unfair contracts or agreements that limit your freedom.
Did you know?
Research by Women's Aid shows that 95% of domestic abuse survivors also experience financial abuse.
Examples in practice
Many situations may seem innocent but can actually be forms of financial abuse:
Unfair contractual restrictions:
An employer forces you into exclusivity without fair compensation, limiting your ability to earn income elsewhere.
Creating dependency:
A partner discourages you from working or pursuing education, making you financially dependent.
Subtle manipulation around spending:
Comments like, “Do you really need that?” or “You don’t need to buy that,” make you second-guess your own decisions.
Debts in your name:
A family member takes out loans or subscriptions in your name without your consent.
What can you do?
Recognize the signs.
Speak up. Financial abuse is still a taboo subject, but by talking about it openly, you can help others.
Seek help. Organizations like Veilig Thuis (Safe at Home) can provide support.
🛑 Financial abuse will only stop if we recognize it. Share this message and help others identify the signs. 💪
Sources:
Veilig Thuis: https://www.veiligthuis.nl
Movisie on financial abuse: https://www.movisie.nl
Women's Aid: https://www.womensaid.org.uk
