When it comes to financial abuse, there are several misconceptions.
The misconception that women are not as financially skilled as men. That survivors of financial abuse don’t earn as much money as their partner does, and therefore should be grateful that their partner is managing their money. That it is normal for one person in a relationship to care less about money. That it is easy to leave.
Whilst these may be true in some relationships, it is not true for the vast majority of people who are suffering from financial abuse, according to Suzanne Panecki, a Senior Practitioner Financial Coach at Good Shepherd's Financial Independence Hub, delivered in partnership with Commonwealth Bank.
Another misconception, she says, is that abuse is, to some degree, normal in a relationship.
“I think the lack of awareness around financial abuse and other forms of violence is still very hidden in society.”
The consequence of the lack of education can lead to the normalisation of inexcusable behaviour.
Financial abuse is an insidious form of domestic and family violence. It is a pervasive form of domestic and family violence. In fact, research suggests that up to 90 per cent of people who seek help for domestic and family violence are affected by financial abuse.