Stop financial abuse before it starts: protect your freedom

FINANCIAL abuse is one of the least visible forms of domestic violence - yet one of the most damaging. According to the Human Sciences Research Council's (HSRC) National Gender-Based Violence Study conducted in 2024, one in eight women over the age of 18 has experienced financial abuse, defined as the unreasonable deprivation of financial resources to which a person is legally or rightfully entitled.

- SHARON HAMMAN

From 25 November to 10 December each year, the global 16 Days of Activism for No Violence Against Women and Children campaign reminds us of the importance of protecting independence and security.

Momentum's Science of Success reminds us that success favours the focused; those who make deliberate and well-informed decisions rather than reactive ones. In the context of financial abuse, it means not just responding to it but preventing it before it can get a foothold.

Understanding financial abuse before it happens

Financial abuse rarely begins with obvious control. It often starts with small, subtle behaviours - a partner insisting on “handling” the finances, a family member questioning how money is spent, or someone persuading you to share passwords or bank access “for convenience.”

At its core, financial abuse is the misuse or restriction of someone's money or assets to limit their independence. It can occur in any relationship, across all ages and income levels.

Preventative awareness means recognising early warning signs such as:

Someone demanding control of your salary, pension, or grants.

Pressure to share financial information or cosign loans.