When we discuss domestic abuse, the focus is often on physical violence. Yet, financial abuse — though less visible — can be just as devastating. It strips victims of their financial autonomy and traps them in abusive relationships, robbing them of the resources needed to escape.
Last month, Utah placed a renewed emphasis on raising awareness about domestic violence and its many forms. In partnership with Altabank, a division of Glacier Bank, and local organizations supporting survivors, Gov. Spencer Cox and Lt. Gov. Deidre Henderson declared October as Domestic Violence Awareness Month in Utah. This proclamation underscored the critical need to address not only physical abuse but also financial control, which affects many individuals every day.
While working with Lindsey Boyer, executive director of South Valley Services, she emphasized to me that financial empowerment allows survivors to overcome one of the toughest barriers to safety and independence. Access to resources and control over your own finances creates new options for survivors and opens the door to lifesaving and life-changing opportunities.
Financial abuse involves tactics such as restricting access to money, sabotaging employment and taking on debt in the victim’s name, leaving them financially dependent and powerless. These actions create a suffocating grip on the victim’s life, making it nearly impossible to escape the cycle of abuse. What many fail to realize is that financial control often starts subtly — under the guise of “managing the household budget” — and eventually leads to total control over the victim’s financial decisions.
Why is this so significant? For many, the thought of leaving an abusive relationship is overwhelming. But when you add the layer of financial dependency — no savings, no job and possibly even ruined credit — escape feels impossible. Victims are forced to weigh their safety against financial ruin, with many feeling they have no choice but to stay.
According to South Valley Services, 1 in 3 women and 1 in 4 men in Utah will experience domestic violence in their lifetime, and financial abuse often keeps these victims tethered to their abusers.
Let’s dispel a common myth: Financial abuse does not only happen to those who are unemployed or uneducated. Even financially successful individuals can fall victim. In these cases, abusers might manipulate bank accounts, fraudulently sign up for credit in their partner’s name or block their access to shared assets. The abuse is tailored to the victim’s situation — whether they’re a CEO or a homemaker.
The long-term effects are severe. After leaving an abuser, victims face rebuilding their financial lives, often starting from scratch. Recovering from financial abuse means tackling damaged credit, managing debt incurred without consent and attempting to regain financial independence. And for many, the emotional toll is just as burdensome as the financial damage.
Continuing the momentum from recent awareness efforts, it remains critical to address all forms of abuse — including financial abuse. It’s not enough to simply recognize these patterns; we need systemic solutions to support victims and help them regain financial freedom. This is where initiatives like those from Altabank and local partners come into play. By providing financial education, resources and guidance, they are helping survivors rebuild their lives and regain their independence.
To those trapped in financially abusive relationships: You are not alone. Resources exist, from local domestic violence shelters to financial counselors and legal advocates who can help you take back control. And to the community at large, we must continue raising awareness, supporting survivors and calling out all forms of abuse — including those that are less visible.
Let’s make sure that financial abuse is not overlooked in our conversations about domestic violence. By recognizing the full scope of the issue, we can help more victims break free from the chains of financial control and take meaningful steps toward a safer, more independent future.
(Katie Hansen) Katie Hansen is the regional operations manager for Altabank’s Cache Valley Region and is Board Chair for CAPSA.
Katie Hansen is the regional operations manager for Altabank’s Cache Valley Region and is Board Chair for CAPSA. She is actively involved in bringing awareness to the issue of domestic violence in all of its forms and helping survivors.
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