What You’ll Get Out Of Today’s Show
- What happens when someone is using your finances to prevent you from making decisions that are in your own best interest? What does financial abuse look like and can you reclaim your financial life? Rachael shares her story and how she’s become passionate about economic empowerment.
- Although she had a successful career and what appeared to be a healthy relationship from the outside, Rachael found herself in a relationship with someone who walked all over her.
- Slowly over time, Rachael’s boyfriend began chipping away at her confidence and inserting himself into her finances, putting his name on all of the bills, linking bank accounts, opening joint accounts, and pushing to have his name on the mortgage to the property she had purchased on her own.
- Your instincts and feelings are worth paying attention to. Had Rachael explored her feelings more, she believes she would have listened to them better. Not knowing what’s happening with your bills or financial accounts is a red flag. Sharing accounts is only good when both people are acting in good faith.
- The drive to take over control finances may start as a result of insecurity in the relationship, but it can take a turn and be used against the other person as a form of punishment.
- Rachael describes financial abuse as a psychological assault where your trust is so broken that it can damage the relationship you have with yourself. If you aren’t making decisions willingly and freely, you are giving up bits of your power and it’s then a slippery slope to giving away too much.
- There’s nothing inherently wrong about merging finances but there’s needs to be a conversation it.
- After 10 years, the relationship ended, Rachael found herself in a legal battle over the property, was experiencing PTSD and unable to do her job.
- The systemic assault she experienced during the relationship and in its aftermath destroyed her trust in society. All the business, government, legal, and social systems she sought help from had failed her.
- The bright light in her experience is that Rachael has now become an agent of change to have new laws passed in the UK to help other victims of financial abuse.
- Learning to tell her story and fight for herself was incredibly difficult, but also a skill-building endeavor. She channeled her anger, found her voice, and learned how to speak clearly and with confidence.
- Always a fan of journaling and understanding the power of words, Rachael started a blog as an unfiltered outlet for her feelings. The positive feedback she received from family and friends also helped build her confidence.
- Not wanting to return to teaching, Rachael attended one of Alan Donegan’s PopUp Business Schools to possibly become a personal fitness trainer. When hearing about using your experiences to build an authentic business, Rachael realized she wanted to help other victims of financial abuse.
- Rachael wants to become a consultant to banks, housing associations, and lawyers and tell them what they need to do to stop financial abuse from happening, protecting both themselves and their customers.