Financial Abuse Is on the Rise: What It Is and What to Do About It

Domestic violence almost always includes financial abuse. Here’s help on identifying and understanding it and how to get help and leave in a safe way.

A woman, only her hands and legs showing, opens her empty wallet.
(Image credit: Getty Images)

While financial abuse affects both men and women, women are more frequently the victims. According to the Bureau of Justice Statistics, 85% of domestic violence victims are women, and unfortunately, the number of incidents is rising. The recent statistics about abuse during the pandemic are worrisome, showing a spike in 911 calls reporting violence against women. States such as New York found that domestic violence reports were up over 30% in April 2020, compared to the year before. 

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Stacy Francis, CFP®, CDFA®, CES™
President & CEO, Francis Financial Inc.

Stacy is a nationally recognized financial expert and the President and CEO of Francis Financial Inc., which she founded 15 years ago. She is a Certified Financial Planner® (CFP®) and Certified Divorce Financial Analyst® (CDFA®) who provides advice to women going through transitions, such as divorce, widowhood and sudden wealth. She is also the founder of Savvy Ladies™, a nonprofit that has provided free personal finance education and resources to over 15,000 women.