Financial abuse is a pervasive yet often overlooked form of domestic violence, affecting an estimated 99 percent of the 10 million domestic violence victims in the United States, according to the National Network to End Domestic Violence. This tactic of control strips victims of their economic independence, leaving them trapped in abusive relationships.
The Reality of Financial Control
Juliette*, a survivor from a wealthy Midwest suburb, experienced this firsthand. In 2010, she purchased a swimsuit top for a family vacation using her credit card. Her husband, who routinely monitored her spending, discovered the purchase and unleashed a verbal attack in front of their children and her mother. Moments later, a convertible worth $140,000 was delivered for him. 'I had my bathing suit top, and he had his convertible,' she recalled.
Financial abuse is defined as one partner controlling the other's ability to access, acquire, use, or maintain economic resources, forcing dependence. Common examples include preventing a partner from having a bank account, dictating spending, sabotaging careers, and forcing victims to live on meager budgets while abusers enjoy luxuries.
Who Is Most at Risk?
A 2025 survey by U.S. News and World Report found that victims aged 18 to 24 are most likely to experience financial abuse, often within marriages (39 percent) or cohabiting relationships (35 percent). The elderly are also vulnerable, with the National Council on Aging estimating $28 billion in annual losses, primarily from family members (47 percent).
Legal Frameworks and Progress
Federal recognition of financial abuse came in 2022 when it was added to the Violence Against Women Act, opening funding for victim support organizations. At the state level, only a few jurisdictions have specific laws. California, Hawaii, and Utah classify coercive control as domestic abuse, while Nevada allows civil relief up to $10,000. New York bars creditors from collecting debt from financial abuse.
Landmark cases highlight the importance of these laws. In a 2023 California case, a judge granted a restraining order based on coercive control, citing a husband's 200-page rulebook, including 30 pages on dishwashing. In Washington state in 2025, a wife received a protective order after her husband's verbal abuse and threats.
Impact on Victims and Families
Financial abuse often co-occurs with emotional abuse, leading to depression, anxiety, and internalized beliefs of incompetence. Ruth*, who founded a financial coaching practice, witnessed her father control their mother's spending while he bought jet skis and guns. Her mother eventually left in 2003 with only $300, starting over without a bank account or credit card.
Ruth suffered hundreds of panic attacks after high school, requiring extensive therapy. 'It got to the point where I couldn't leave my apartment without having a panic attack,' she said.
Rebuilding Lives
Despite the trauma, many survivors rebuild. Ruth launched her coaching business in 2019, teaching women to trust themselves financially. Juliette started a coaching practice in 2020 focusing on toxic relationships and narcissistic abuse. 'When I help empower them, I feel empowered,' she said.
Support is critical. In the US, the domestic violence hotline is 1-800-799-SAFE (7233). In the UK, the national helpline is 0808 2000 247, with a men's advice line at 0808 8010 327. International helplines are available at www.befrienders.org.
*Names changed to protect identities.
