Breakups Shouldn’t Leave You Financially Vulnerable
“After he kicked me out onto the street, when I didn't think it could get any worse, he cut off access to our shared bank account and I was left homeless, with pre-cervical cancer and a severe ankle injury”
It’s heartbreaking to hear stories of intimate partner financial abuse and how it is facilitated online. This testimonial was proudly shared with us by a mother of two who survived intimate partner cyber abuse where the male perpetrator engaged in financial abuse. Her partner weaponized her inability to walk, after she endured a severe ankle injury, and kicked her out of their shared home of many years.
She has now fully recovered and continues to work toward building a more peaceful and stable home for her children. Although her ex-husband continues to weaponize their once-shared money, she has built resilience and continues to fight for her freedom from her abuser.
Here are some tips you can use to help protect yourself or a friend from financial abuse:
Maintain Individual Accounts: Always have a personal bank account with funds that only you can access. This ensures you have financial resources that are solely under your control.
Keep Records: Document all shared financial transactions and responsibilities. Keep a copy of important financial documents, account statements, and any communication regarding money.
Understand Your Finances: Be fully aware of your financial situation, including debts, assets, and investments. Knowledge is power, and it's crucial when it comes to shared finances.
Build Your Own Credit: Having credit in your own name is important. Make sure to build and maintain your own credit history.
Set Boundaries: Have clear and open conversations about money with your partner. Set boundaries that protect both parties' interests.
Seek Legal Advice: If you suspect financial abuse or are going through a breakup where finances are involved, seek legal advice to understand your rights and options.
Emergency Fund: Always try to have an emergency fund. This fund should cover at least three to six months of living expenses.
Remember, financial abuse is a form of domestic violence. It's about control, but with the right steps, you can regain your financial independence and protect yourself and your loved ones
