Michael de Haan brings over 25 years of financial planning expertise, now channelling his knowledge as a certified money coach and accredited Financial Abuse Specialist. Recognized as Australia’s ambassador for financial abuse awareness by Standards International Inc., Michael is committed to illuminating the often-overlooked issue of financial abuse. He focuses on educating financial service providers to identify and support victims effectively. Through his work, Michael empowers individuals to recognize signs of financial control, offering pathways to rebuild their financial independence and break free from abusive relationships.

Could financial abuse be the silent force controlling your life or someone you know?

In this compelling episode of the Healing Through Love Podcast, host Sharlene Lynch explores the insidious nature of financial abuse with expert Michael de Haan. With over 25 years in financial planning, Michael has transitioned into a certified money coach and accredited Financial Abuse Specialist, dedicating his career to uncovering and combating financial abuse in Australia.

Financial abuse, affecting 1 in 6 women and 1 in 13 men in Australia , often operates under the radar, manifesting as control over finances, restricted access to money, and manipulation of financial resources. Michael discusses how this form of abuse serves as a precursor to other types of domestic violence and emphasizes the importance of early detection and intervention. (Safe-Life)

Listeners will gain a deeper understanding of:

• The signs and consequences of financial abuse
• Strategies for victims to reclaim financial autonomy
• The role of financial institutions in identifying and preventing abuse
• Available resources and support systems for those affected

Michael’s insights aim to empower individuals to recognize financial abuse and take proactive steps towards recovery and independence. This episode is essential for anyone seeking to understand the complexities of financial abuse and how to support themselves or others in breaking free from its grasp.

Listen now to uncover the hidden dynamics of financial abuse and learn how to foster financial empowerment.

🎯 Three Key Takeaways

1. Recognize the Signs: Understand how financial abuse manifests and its role in controlling victims within relationships.
2. Empowerment Through Education: Learn strategies to regain financial independence and the importance of educating financial service providers.
3. Support Systems Matter: Discover the resources and support pathways available to victims seeking to rebuild their financial wellbeing.

Introduction to the Podcast and Guest

• The podcast ‘Healing Through Love’ is introduced, focusing on domestic and family violence and empowering survivors.
• Sharlene Lynch and Rose Davidson are the hosts.
• Michael de Haan, a financial planner and certified money coach with over 25 years of experience, is introduced as the guest. 

Difference Between Financial Planner and Financial Coach

• A financial planner focuses on investments and goals like retirement planning.
• A financial coach delves into the behavioral and emotional aspects of money, helping clients understand their relationship with money and change harmful behaviors. 

Identifying Behavioral Challenges with Money

• Understanding one’s future life vision and connecting with self is crucial.
• Creating a clear vision of the desired future life helps in forming habits and patterns to achieve financial goals. 

Financial Abuse: Definition and Impact

• Financial abuse is a form of coercive control where one partner controls the financial resources to keep the other in an unhealthy relationship.
• In Australia, one in six women and one in 13 men are victims of financial abuse, according to the Australian Bureau of Statistics.
• Financial abuse is prevalent in over 95% of cases of violence against women. 

Red Flags and Indicators of Financial Abuse

• A partner giving an allowance that doesn’t meet living needs can be a sign of financial abuse.
• Lack of knowledge about family financial assets and being controlled in social interactions are indicators.
• Being restricted in career choices due to a partner’s disapproval is a form of financial control. 

Preventive Measures and Awareness

• Having one’s own bank accounts and passwords is critical for financial independence.
• Staying connected with friends and maintaining social interactions is important to avoid isolation.
• Understanding the details of financial agreements, such as loans and credit cards, is essential. 

Support and Resources for Victims

• Organizations like 1-800-RESPECT offer support for victims of financial abuse.
• Having an escape plan, including financial resources and documentation, is advised for safety.
• Government and financial institutions should provide more support and awareness about financial abuse. 

Final Words of Wisdom

• Awareness and education about financial abuse are powerful tools for prevention.
• Individuals should take action to change behaviors that perpetuate financial abuse.

• Michael de Haan discusses the difference between a financial planner and a financial coach, emphasizing the behavioral and emotional aspects of money management.
• The importance of understanding one’s future vision and emotional connection to financial goals is highlighted as a key to overcoming financial anxiety and poor decision-making.
• Financial abuse is defined as a form of coercive control, with statistics showing one in six women and one in 13 men are victims, emphasizing the need for awareness and education.
• Red flags of financial abuse include limited financial knowledge, restricted access to money, and isolation from friends and family, with suggestions for conversation starters to identify potential abuse.
• Maintaining personal financial independence, staying connected with friends, and being aware of financial documents are crucial steps in protecting oneself from financial abuse.
• Awareness, support networks, and having an escape plan are essential for victims of financial abuse, with resources like 1-800-RESPECT available for help.
• Michael de Haan’s final words emphasize the power of awareness and education in combating financial abuse, encouraging listeners to take action and support others.