More than 8 out of 10 women who seek support for domestic and family violence¹ have been victims of financial or economic abuse; and a lack of economic security and financial resources are the key reasons women return to abusive relationships².
Financial (or economic) abuse by a partner is particularly malicious as it deliberately sets out to strip a woman of her independence, confidence, and ability to manage her personal financial situation. Many women who find themselves in this situation are either not aware that they are experiencing abuse or they do not have the financial knowledge or confidence to break away. Given the sensitive and often difficult, even dangerous, circumstances these women find themselves in, traditional financial literacy education is not appropriate.
Financial Toolbox’s Women at Risk committee aims to provide financial education, together with other relevant information, to help women facing domestic violence and financial abuse transition away from a position of vulnerability to being independent, empowered and financially resilient.
We are currently:
- Building a web based resource of specifically tailored relevant information for women to access easily from wherever they are and at whatever stage of their journey
- Developing a series of workshops based on the same information to be delivered in women’s refuges and in the wider community.
We aspire to enable women facing domestic violence to:
- Feel better able to cope and deal with issues;
- Have reduced depression, anxiety and general stress;
- Learn practical skills to use to build a new life;
- Feel more in control of their money; and
- Feel better able to plan ahead and be confident about their futures.
If you would like to find out more, or get involved, please get in touch.
¹ Responding to economic abuse, Social Policy Research Centre document, UNSW that references Evans, 2007; Macdonald, 2012.
² Kim & Grey, 2008; Meyer, 2012; Cameron, 2014