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Economic abuse is a form of domestic abuse where one partner controls the other’s access to money and resources, making them financially dependent and unable to leave. This can involve controlling bank accounts, threatening or restricting access to funds, preventing work or education, making unilateral money decisions without mutual agreement, opening accounts in the survivor’s name without their knowledge, and accumulating debts in the survivor’s name. It traps the abused in the relationship, leaving them isolated and helpless. Recognizing and addressing economic abuse is essential to help survivors regain their independence and rebuild their lives. If this sounds like you or a loved one, we can help. See below or call the Community Financial Care Center at (877) 937-2328 to learn how.

If you believe that you are in an economically abusive relationship, consider these steps: 

• Confide in a trusted friend or family member for support. 
• Contact local domestic violence organizations for advice and local resources. 
• Save small amounts of money if possible. 
• Gather important documents like IDs and bank statements. 
• Create a safety plan and seek professional advice to regain your independence. 

For a more comprehensive breakdown visit First Step or see below to find a local advocate who can truly help support and guide you based on the needs of your specific situation. 

Symptoms can look very different based on the situation and no single symptom may be a sure sign, however there are red flags that offer clues to economic abuse, like: 

• Reluctance to speak freely about money matters or other relationship cues.
• They appear not to have clear knowledge of their own finances. 
• They dodge or shut down communications around certain things, especially money. 
• Multiple bank account holders, where someone doesn’t appear in control of their accounts. 
• Unusual banking activity and withdrawal patterns, including frequent overdrafts or requests for unusual transactions. 
• Anything that triggers a gut reaction that something isn’t right here. 

If you feel someone you care about is suffering from economic abuse, tap to learn more about how to confidentially offer help from First Step. 

To learn steps to help secure your financial identity and info online in the face of financial abuse, visit techsafety.org

Abusive situations MUST be handled delicately and CONFIDENTIALLY. Listen without judgement, believe their experiences, and provide reassurance. Help them explore resources, like local domestic violence or sexual assault organizations, financial assistance, and legal advice. Encourage them to save small amounts of money and secure important documents. Because early intervention and your support can make a significant difference in helping them regain their independence and safety. Not to mention a better financial outcome for the rest of their lives. 

Ready to help? Tap to learn more about how to confidentially offer help from First Step and see below for your local advocate resource who can advise you. Or reach out to us at (877) 937-2328 to learn more about financial support options from Community Financial. 

Create your personalized strategy to stay safe and respond to danger. It includes reaching out to a local violence resource for support, identifying safe areas in your home, collecting emergency contacts, setting aside a hidden bag with essentials, creating a financial safety plan and cash access, including opening a bank account in your own name, determining next steps after exit and planning how to leave safely if needed. Learn more about safety planning here: 

• Safety Planning from First Step 

Saving up money is crucial for leaving a domestic violence situation. Having your own funds can provide the financial independence needed to secure safe housing, transportation, and basic necessities. Savings accounts with higher yield APYs can also help protect and grow that money faster, passively. Even setting aside small amounts can make a big difference in helping you regain control and take steps toward a safer future. 

• High Yield Savings accounts 
• Grow Your Change 
• CDs and IRAs

Because every little bit helps, take steps to help improve your cashflow by limiting unexpected drains on your cash balance, like overdraft and non-sufficient funds fees, and increasing incoming funds through tools like high-yield savings accounts. Especially look for accounts that don’t require fees or minimum balances to protect your funds. 

• CloseEnuff™ cash flow boosting checking 
• Early Pay 
• Buy Now. Pay Later 
• Emergence Credit Card

As economic abuse tends to damage the survivor’s credit rating, it’s important to understand how to safely repair your credit and begin to establish a solid foundation for a successful and independent future. Seek professional, confidential advice.

Repairing your credit after exiting a financial abuse situation is vital for rebuilding your independence and achieving long-term stability. Good credit is essential for securing housing, loans, and other financial opportunities. Start by reviewing your credit report, disputing any inaccuracies, and gradually rebuilding your credit through responsible use of credit cards and timely bill payments. Some institutions may offer specific tools, like microloans, to help intentionally rebuild credit. 

• Emergence Credit Card 
• Buy Now. Pay Later 

If you are in a domestic violence situation, specific domestic violence or domestic abuse loans designed to help you gain stable footing and make your exit with cash in hand can be helpful. These types of loans are usually by referral only and not public. 

• Find a local Michigan referrer