Your Financial Escape Plan

Taking Back Control

Leaving an abusive relationship is a complex and challenging process, especially when financial resources are limited. A well-crafted financial escape plan can be a lifeline, providing the means to break free and start anew.

Why is a financial escape plan essential?

Abusers use financial control to keep victims dependent and trapped. By preparing a financial escape plan, you empower yourself to overcome the financial barriers that make leaving seem impossible.

Steps to Create Your Financial Escape Plan

1. Take Pictures of Important Documents and Assets

• Identification: Collect copies of your driver's license and passport and copies of your and your children’s birth certificates and Social Security cards.
• Financial Records: Secure copies of bank statements, credit reports, pay stubs, tax returns, and any retirement and investment account statements.
• Legal Documents: Gather your marriage certificate, property deeds, car titles, insurance cards and policies, and any legal agreements.
• Significant Assets: Take photos of homes, cars, boats, jewelry, artwork, and other collectibles.
  

2. Secure Access to Money and Credit

• Open a Personal Bank Account and Credit Card: Choose a bank different from your abuser's, and opt for online statements sent to a secure email, P.O. box, or friend’s address.
• Save Emergency Funds: Start setting aside small amounts of cash in a safe place. Even small sums add up over time.
  

3. Protect Your Credit

• Check Your Credit Report: Obtain your credit report from all three major bureaus to identify any unauthorized accounts or debts.
• Consider a Credit Freeze: This can prevent new accounts from being opened in your name without your consent.

4. Enhance Your Earning Potential

• Update Your Resume: Prepare to seek employment or increase your income.
• Pursue Education or Training: Look into programs that can improve your job prospects.
  

5. Build a Support Network

• Confide in Trusted Individuals: Share your situation with friends, family, or professionals who can offer support.
• Reach Out to Organizations: Contact local shelters or domestic violence hotlines for assistance and resources.
  

6. Plan the Logistics

• Safe Housing: Identify a safe place to go, whether it's with a trusted individual or a shelter.
• Transportation: Ensure you have reliable means to leave when the time comes.
• Legal Assistance: Consult with a lawyer to understand your rights and options.
  

Sarah's Escape Plan

When Sarah decided to leave her abusive partner, she meticulously planned her escape. She gathered essential documents, secretly saved money, and reached out to family and a local women's organization for support. Her careful preparation was instrumental in successfully breaking free and starting a new life.

Remember: Safety First

Your safety is paramount. If you're in immediate danger, prioritize getting to a safe location. Consider seeking guidance from professionals who can help you navigate this process safely.

To find resources in your area, go to https://www.domesticshelters.org or call the National Domestic Violence Hotline at 1-800-799-7233 (SAFE).

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Our final post will focus on rebuilding your financial life after escaping abuse, offering guidance on how to regain independence and stability.