Are you the victim of financial abuse or are you perhaps unwittingly the abuser? And how would you even know?
In this podcast we discuss a very sensitive topic - financial abuse and how money is often used to control people in relationships. In this podcast Maya speaks to financial planner and founder of Foundation Family Wealth Sunel Veldtman who writes that “the definition of financial abuse includes controlling how all the money is spent, not allowing the victim access to bank accounts, withholding money, giving an ‘allowance’, or not including the victim in banking or investment decisions”. Sunel says that while the term abuse sounds harsh, money in these relationships is typically used to control a partner, to the extent that it is detrimental to them; it is not used to convey love.