Everyone has the right to make independent financial decisions. If your partner, family member, carer or anybody else is controlling your financial affairs against your wishes, then this is financial abuse.
Money Helper has a very helpful resources around financial abuse: spotting the signs and leaving safely.
Financial abuse is a form of domestic abuse and is a way of having power over you. Always remember you are not alone. There are places to go for help and support and things you can do.
Financial abuse involves someone else controlling your spending or access to cash, assets and finances. This can leave you feeling isolated, lacking in confidence and trapped.
A research study undertaken by the Co-operative bank and Refuge in 2020 found that nearly 2 out of 5 adults (39%) have experienced economic abuse in a current or former relationship. The most common types of this behaviours, include:
| Partner using money as a means of manipulation | 55% |
| Partner making significant financial decisions without consulting them | 52% |
| Having to ask permission or show evidence of spending | 49% |
| Partner taking financial assets without permission | 47% |
| Personal spending monitored or only allowed money for bare essentials | 45% |
| Partner putting debts in their name and being afraid to say no | 41% |
| Partner stopping or interfering with them going to work | 41% |
| Not being allowed to have own savings account | 35% |
| Prevented from having access to a personal bank account | 30% |
If you need advice or support with this please see link for Money Matters financial abuse: spotting the signs and leaving safely.
