1 in 7 Women: Unveiling the Hidden Epidemic of Economic Abuse 

Economic Abuse Against Women

Uncovering the Prevalence of Economic Abuse Against Women in Hidden Chains

A new study that found one in seven women experience economic abuse in their lifetime has brought attention to the grim reality of this form of domestic violence, which is typically obscured by physical and verbal assault. This blog post explores the subtleties of economic abuse, how it affects women, and how critical it is to identify and deal with this pernicious problem.

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Comprehending Financial Abuse: Exceeding Physical Damage

Economic Abuse Against Women
Controlling and manipulating a partner’s financial resources with the goal of retaining dominance and authority is known as economic abuse. This can show up in a number of ways, such as:

Limiting access to funds, requesting financial records, or pressuring a spouse to resign from their position are all examples of controlling revenue.
Debt accumulation is the result of taking out loans in a partner’s name without that partner’s permission or accruing debt that is unaffordable and putting that debt on them.

• Financial opportunity sabotage: Keeping a spouse from seeking training or professional development that could increase their financial independence.
• Limiting expenditures: Limiting the amount of money a spouse can spend on necessities and themselves.
• Financial isolation: Keeping a partner’s bank account, credit card, or even personal funds out of their reach.

The Horrible Effects of Financial Mismanagement

Economic Abuse Against Women
Economic abuse affects women in a profound and complex way, impacting:

• Financial stability: As a result of their dependence on their abuser, women find it challenging to terminate the relationship and establish a solid life for themselves.
• Emotional and mental health: Anxiety, sadness, and a sense of unworthiness can result from ongoing financial stress and uncertainty.
• Physical health: Stress and financial strain can lead to a disregard for basic necessities and medical treatment, which can result in physical health issues.
• Social life and support systems: The abuser may keep the victim alone, making it difficult for them to get in touch with friends, family, and other support networks.

Understanding the Symptoms of Financial Abuse

Economic Abuse Against Women
The precise strategies used may differ, but the following are typical indicators of financial abuse:

• continuous pressure to keep track of every dollar spent.
• Partner insisting on seeing bank accounts, paychecks, or other financial data.
• being prohibited from working or from having access to your own funds.
• being made to feel bad about purchasing necessities, even for your own family.
• Your partner is undermining your attempts to achieve financial independence.

Breaking the Silence: Tools and Assistance

Economic Abuse Against Women
You are not alone if you believe that you or someone you know is being abused financially. The following resources can provide assistance and direction:

The National Network to End Domestic Violence (NNEDV) can be reached by texting the code HOME to 741741 or calling 1-800-799-SAFE (7233). The Financial Abuse Network can be reached at https://www.abusenetwork.org/contact-us.
Resolving financial mistreatment necessitates teamwork. We can make everyone’s future safer and more equal by promoting change, helping victims, and increasing awareness.

Recall that reaching out to a dependable friend, relative, financial counsellor, or therapist can be the first step in escaping financial abuse and gaining access to the tools and assistance need to start over.