The Malta Independent 29 April 2024, Monday
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Is financial abuse a thing?

Sunday, 28 January 2024, 08:58 Last update: about 3 months ago

Luca Caruana

It is common for people to fail to recognise the subtle yet damaging part of domestic violence known as financial abuse. It happens when one partner uses money as a tool of manipulation and control inside the relationship, which has a substantial impact on the other partner's freedom and self-esteem. This form of abuse is not simply about money; rather, it is a means to exert authority and retain domination. It is comparable to the tyrant archetype that can be found in the eight money archetypes that are described by Deborah Price, a best-selling book.

Take into consideration the possibility of living a life in which your spending is continually monitored and in which you are prohibited access to your individual or joint bank accounts. Imagine a partner who undermines your professional development by, for example, making unending phone calls to your place of employment or making demands that threaten your job stability. This is the reality of financial abuse, in which the abuser frequently serves as a representation of the archetype of the tyrant, exercising power in a manner that is harsh and oppressive.

Control of resources and financial sabotage are two ways in which the tyrant archetype in the context of financial abuse manifests itself. The abuser, much like a tyrant, derives a sense of power from restricting the independence of other people. In order to demonstrate their superiority and control over the victim, they could restrict the victim's capacity to earn a living or monopolize access to financial resources (money).

Having this control has a significant and far-reaching influence. The victims frequently experience difficulty at work or the loss of their jobs, which diminishes their financial independence and makes it more difficult for them to flee the abuse. This cycle of reliance and dread is where the power of the dictator is most apparent: in the victim's perception that they are unable to break free from the tyrant's manipulation.

Having said that, there is a glimmer of hope at the end of this tunnel. Beginning with a talk is the first step on the path to liberation. Having a conversation with a reliable friend or member of the family can be an effective first step. Numerous organisations that are committed to assisting victims of domestic violence are available to people who are experiencing feelings of isolation. As you begin the process of reconstructing your life, they provide you with an ear to listen, counsel, and resources.

There is also the need of regaining financial independence. In order to take concrete steps toward independence, you might consider opening a private bank account, saving money in a covert manner, and working to improve your credit score. It is recommended that individuals who are involved in legal and financial complexity, particularly in the context of marriage, seek the advice of an attorney. They have the ability to provide expert guidance on how to properly navigate these issues.

Always keep in mind that you are not the only one going through this. Numerous people have been subjected to financial abuse, and as a result, they have emerged stronger and more self-sufficient. A greater understanding of the abuser's goals and strategies can be gained through an understanding of the tyrant archetype in the context of financial abuse. This understanding also highlights the significance of ending the cycle of control and manipulation used by the abuser.

When you are subjected to financial abuse, it is important to keep in mind that your worth is incalculable, and that your right to financial independence is incontestable. Do not be afraid to ask for assistance at any time.

 

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Luca Caruana

Certified Money Coach (CMC)®

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