• Mya K

Financial Abuse

October is bullying awareness and domestic violence awareness month. In effort to help you create or maintain your credit profile as an asset as well as getting your personal finances in order, I want to shed light on another subject which is financial abuse.

Many of you may not know that I was a victim of financial abuse. According to Shannon Thomas, LCSW and certified trauma therapist, financial abuse is the hidden exploitation and control of finances. Financial abuse is happening all around us daily and many do not realize they are in the midst of it because either the behavior is being normalized, there is fear of a consequence (threat) if they leave, or people are very much aware however, they do not have access to any money to break free.

This type of abuse can reveal itself in many forms but a few signs are not having access to money in a relationship, when you have a need you are being told “we can’t afford it” but there seems to always be money for their needs, and while the first two examples are restricting, it can also be seen when you have access to money but your partner is not willing to contribute and allows you to handle everything. In a healthy partnership the goal is to be building a legacy together.

There is help for financial abuse victims through an organization that I love called Purple Purse. Here they teach about the difference between a financially abusive relationship and a healthy one and help victims gain financial control, build credit, and other necessities after leaving the abuse. Money oftentimes is the reason victims stay in that environment so empowerment around personal finance and credit is key.

I am living proof that life carries on after abuse. If you are in a domestic violence situation with finances or of any kind, please seek help from a trusted person or organization so you can be empowered to remove yourself from that environment. Visit Purple Purse https://www.purplepurse.com/ to learn more.

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