Stacy Francis Featured by Kiplinger on Financial Bullying in Marriage
By: Francis Financial
May 14, 2021
Stacy Francis, President and CEO of Francis Financial, was recently featured by personal finance advice publisher Kiplinger. Francis’ article discusses how to spot the red flags of financial abuse and how to get the help you need if you are a victim.
Francis shares that financial abuse and domestic abuse go hand in hand in a relationship and that most perpetrators of domestic abuse start with financial abuse and escalate their behavior from there. “Why do most people miss the warning signs or the overt ways that their abuser controls them and creates financial dependency?” Francis asks. “One main reason is that education around this kind of abuse is not as publicized or shared as other forms of abuse.”
Financial abuse usually begins subtly. The abuser uses the stress of managing finances to gain control, which slowly leads to less and less communication about finances, until the victim is left dependent on the abuser. Francis adds “Some financial abuse victims have experienced their abuser sabotaging their current career, ruining their credit score, tricking them into writing bad checks, ruining their professional reputation, and keeping money in hidden investments.”
Francis shares some of the warning signs of financial abuse, including having to ask for money to pay everyday bills and being forbidden from working, among others.
If you are a victim of financial or other types of abuse, Francis makes several recommendations, including building a professional support system of resources to exit the situation safely.