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Understanding and Combating Financial Abuse: Part 2

Fozia Rashid

Financial abuse is a form of domestic abuse that transcends all social, economic, and educational boundaries. Even educated women can become victims of financial abuse, often without even realising it. Here's why:

 

1. Manipulation and Control: Financial abuse is often subtle and insidious. It can start with small actions, like a partner insisting on managing all the finances or making all the financial decisions. Over time, these actions can escalate, leaving the victim with little or no control over their own finances.



2. Lack of Financial Literacy: Despite being educated, many women lack financial literacy. They may not understand complex financial matters or be aware of their financial rights. This can make them vulnerable to financial abuse.

 

3. Societal and Cultural Norms: In many societies and cultures, men are traditionally seen as the breadwinners and financial decision-makers. Even educated women may feel pressured to conform to these norms, making them susceptible to financial abuse.

 

4. Fear and Shame: Many educated women may feel ashamed or fearful of admitting they are victims of financial abuse. They may worry about being judged or not being believed, leading them to suffer in silence.

 

5. Love and Trust: Many victims of financial abuse are manipulated by their partners, whom they love and trust. They may not realise they are being abused, or they may rationalise their partner's actions as being for their own good.

 

Remember, financial abuse can affect anyone, including educated women. It is a complex issue that involves manipulation, control, lack of financial literacy, societal norms, and emotional factors. Raising awareness and promoting financial literacy can help protect women from this form of abuse.

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