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Financial Abuse is a Form of Domestic Violence

WeddingI’m really excited about a groundbreaking project—The Allstate Foundations Domestic Violence Program. They’ve hired me as their spokesperson.

For the first time, a large corporation is addressing an issue on a national level that no one’s talking about—Financial Abuse.

We tend to think of domestic violence as physical, emotional, and verbal. Yet financial abuse is just as insidious and dangerous….perhaps even more so because we don’t recognize it.

For years, I was the victim of financial abuse. And I had no idea. The signs were there. I just didn’t see them.

For example: My husband controlled the amount of money I had access to. He refused to discuss our finances with me, and withheld important information and documents. He got us into illegal deals, “forgot” to pay taxes that were in my name, racked up a huge debt, then left the country, so I was left holding the bag! I was so embarrassed and ashamed of my ignorance, I told no one what was going on.

According to a recent poll by The Allstate Foundation, the number one reason victims stay with their abusers is financial instability. So The Allstate Foundation is doing something about this horrific problem. Aside from raising public awareness and thought leadership, they’ve created 2 amazing programs:

  • A financial education curriculum designed especially for advocates and survivors of domestic abuse.
  • An Education and Job Training Fund that provides women with immediate grants for finding work or improving their skills.

You can find out more on www.econempowerment.org. If you are in immediate danger, call the National Domestic Violence Hotline: 800-799-SAFE (7233) .

Please spread the word. According to a 2006 Allstate Foundation national poll, over 74% of us know someone who is the victim of domestic violence. Now you can help.

Compatibility is the Key

Here’s some good advice for all single women. When you start dating someone, find out first thing if you are financially compatible. True, conversations about money can be awkward, especially in the beginning of a relationship. But, according to an article from the Detroit Free Press titled: In Romance or Finance, Compatibility is the Key…money matters should be addressed sooner rather than later.

Talk“If you wait until after you’ve fallen madly in love, it may be too late to extricate yourself,” said Ginita Wall, co-founder of the Women’s Institute for Financial Education.

I couldn’t agree more. Here’s the good news. According to the article, if you’re not ready to talk turkey, at least look for signs that you’re well-suited. For example:

  • Ask about their past experiences, their early memories with money, or how their parents handled finances.
  • Pay attention to their spending habits, and if you’re comfortable with them.
  • Notice how they pay for purchases: cash, debit, or credit.
  • Consider if their lifestyle makes sense. “A person’s choice of car, clothes, and home are obvious conversation starters,” notes one expert.

Love may be blind. But when it comes to money, you’re really smart to keep your eyes wide open.

Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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