The alarming prevalence of economic abuse in relationships has come to light in recent findings, revealing that one in seven women have experienced financial control by a partner. This often-overlooked form of domestic abuse represents a significant yet underreported crisis affecting millions of women worldwide.
Economic abuse manifests when one partner restricts, exploits or sabotages the other’s financial resources to create dependency and maintain control. Unlike physical violence, these financial manipulation tactics can persist undetected for years, creating invisible chains that bind victims to their abusers long after relationships end.
“Economic abuse rarely exists in isolation,” explains Dr. Nicola Sharp-Jeffs, founder of Surviving Economic Abuse. “Financial control typically emerges alongside emotional manipulation, gradually eroding a victim’s independence and self-worth. By the time many women recognize what’s happening, they’re often trapped in a web of debt, poor credit, and financial insecurity.”
According to research from the UK charity Refuge, common tactics include preventing access to bank accounts, forcing partners to account for every penny spent, accumulating debt in the victim’s name, and sabotaging employment opportunities. These behaviors create financial dependency that makes leaving abusive relationships exponentially more difficult.
The consequences extend far beyond immediate financial hardship. Victims often face damaged credit scores that persist for years, housing instability, and employment challenges. The psychological impact – including financial anxiety, diminished confidence in managing money, and profound trust issues – can linger long after leaving abusive partners.
What makes economic abuse particularly insidious is its socially acceptable facade. Behaviors that might raise red flags in other contexts – like insisting on controlling household finances or questioning purchases – are often normalized or even romanticized as signs of care or traditional relationship dynamics.
“We’ve made progress in recognizing physical and emotional abuse, but economic abuse remains relatively hidden,” notes financial psychologist Dr. Amanda Clayman. “Many victims don’t identify their experiences as abuse because society has normalized certain financial power imbalances in relationships.”
The pandemic has only exacerbated this crisis. With increased financial pressure, job losses disproportionately affecting women, and prolonged isolation with abusers, reports of economic abuse surged during COVID-19 lockdowns. Financial institutions have begun responding to this growing awareness, with several major banks implementing measures to identify and support customers experiencing financial abuse.
Organizations like the Financial Conduct Authority have developed guidance for identifying vulnerable customers, while advocacy groups push for stronger legal protections. The UK’s Domestic Abuse Act now explicitly recognizes economic abuse, marking a significant step forward in addressing this issue legally.
For those experiencing economic abuse, rebuilding financial independence requires both practical and emotional support. Financial education programs specifically designed for survivors, trauma-informed financial counseling, and policy reforms are all essential components of an effective response.
“Recovery isn’t just about regaining financial stability,” explains financial advocate Sarah Pennells. “It’s about reclaiming ownership of your financial decisions and rebuilding trust in your own judgment after someone has systematically undermined it.”
The path forward requires increased awareness, specialized support services, and challenging cultural narratives that normalize financial control in relationships. By recognizing economic abuse as a legitimate form of domestic violence, we can begin dismantling the systems that enable it and create pathways to genuine financial independence for survivors.
Economic abuse thrives in silence and shame. Breaking that silence is the first step toward change – both for individual survivors and for society as a whole. As one survivor shared, “Regaining control of my finances wasn’t just about money. It was about reclaiming my future.”
