Financial Abuse and the Cost of Living Crisis

Family

by Olivia Cameron, Trainee Solicitor


The cost of living crisis has led to many households across the UK facing financial strain, making it challenging for some families to afford basic necessities. Financial hardship is a major factor in conflict and stress in the home.

Financial abuse is used as a means of control over another person and some abusers are using the cost of living crisis to justify further restrictions of access to money resulting in their victims becoming even more dependent on them.

Through our work assisting victims of domestic abuse, we have seen financial abuse manifest in a number of ways, including:

1.  Control over finances: Abusers often try to take control of all aspects of their partner’s financial life, including limiting access to money, controlling bank accounts, or taking over decision-making regarding budgeting and spending.

2. Forced debt: Abusers may force their partner into debt or ruin their credit, making it challenging for them to leave the relationship, particularly with the increased cost of living.

3. Preventing employment or education: Limiting a partner's ability to work or pursue education can contribute to financial dependence, leaving them vulnerable in a situation where the cost of living is rising.

4. Stealing or misusing funds: Directly taking money from the victim's accounts or misusing shared finances can contribute to financial instability.

Those suffering from financial abuse at the hands of their partner often face the impossible decision of whether to remain in an abusive relationship or attempt to leave only to face further financial hardship. In cases in which a person has been subjected to financial abuse for a number of years, when they leave the relationship, they often find themselves with a large amount of debt, limited earning potential and no idea how to manage their own finances, which, in turn, leads to further financial difficulties.

We work with clients everyday who have experienced domestic abuse.

Our team provides legal assistance for obtaining a divorce and court orders, and can also direct clients to charitable organisations that can help with the aftermath of domestic abuse.