Economic harm, often referred to as financial or economic abuse, is recognised as a form of psychological abuse within the Family Violence Act.
It is behaviour towards another person that controls, restricts or removes their access to money, economic resources or participation in financial decisions.
It is experienced in many close personal relationships, particularly intimate partner relationships, and may also include forms of elder abuse.
Worringly, it's on the rise. A 2019 study by researchers at The University of Auckland funded by MBIE found that the lifetime prevalence of economic intimate partner violence increased from 4.5% in 2003 to 8.9% in 2019.
Economic harm can be difficult to identify, as it is less visible than physical violence. However, the impact can be severe and long-term, impacting the financial wellbeing of a person even after the harmful behaviour itself has stopped.
It's important to acknowledge also that economic abuse can lead to other forms of abuse, including violent behaviour.
This is why it's so important to learn the signs of economic harm. According to Good Shepherd, some of these might include:
Watch the video below with experts Nicola Eccleton (Good Shepherd), Dr. Ayesha Scott (AUT), Martin King (BNZ) and Angela Smart (MoneyTalks):
For media enquiries, please contact: clarissa.hirst@fsc.org.nz