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What Is Financial Abuse?

Financial abuse is a type of abuse wherein the victim is controlled by another via money. This kind of abuse covers a lot of different behaviors, with the common ground being that the victim is unable to control his or her own finances and means of living. While financial abuse can happen to anyone, it normally happens in a domestic setting, wherein one spouse or partner financially abuses the other. Another common scenario is when an elderly person is financially abused by a child.

What are some manifestations of financial abuse? One, if you are coerced into taking money out of your bank account for your partner. Two, money - cash - is forcibly taken from you. Three, if you are asked to sign financial documents without allowing you to understand what they mean. Four, if someone keeps borrowing money from you without paying it back.

Those are only some examples of financial abuse. In some cases, an abuser may take away the financial freedom of the abused. For example, a spouse may say that he or she will handle the household finances in order to make things easier on the other. It may simply be a pretense, with the goal of being in control of the money and effectively financially crippling the abused.

If you are being financially abused, it is imperative that you seek outside help. You may approach other family members and friends initially. There are also government and non-government agencies which assist those who are financially abused.

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