One of the least discussed yet most impactful forms of domestic abuse involves finances. In fact, financial abuse is present in nearly 100% of domestic violence cases.
In financial abuse, perpetrators control their victim by using tactics like withholding access to money, destroying their credit, or hurting their job performance.
[Related: Helping Domestic Violence Victims Create Financial Security]
“While this type of abuse
leaves no bruises, it can be one of the most oppressive forms of intimate partner violence. In fact, it is often cited as the number one reason women cannot leave an unsafe relationship,†says Dr. Dara Richardson-Heron Ph.D., CEO of the YWCA (USA). “Without the resources necessary to care for oneself and children, victims of domestic violence are too often forced to make unfair decisions between their safety and their economic stability,†she adds.BE’s Senior Editor of Personal Finance, Stacey Tisdale, discussed the issue on WABC’s Here and Now, with the show’s host, Sandra Bookman.