Taking control of your money and finances after experiencing abuse can feel daunting. However, creating a financial safety plan is a powerful step towards your independence. A financial safety plan does 2 things:
1 – it protects your money, and
2 – it starts you building towards security for the future.
Below are some ideas about how you can start putting together your plan. And remember, Juno is here to help anytime too.
Note: This is Part 2 of our 3 Part series. You can find Part 1 here. and you can check our blog directory to see Part 3 which will be the next to be published: https://junowomensaid.org.uk/category/junos-blog/
Think About Your Current Financial Situation
Begin by taking a clear, honest look at your situation:
- List Your Income Sources: Document every source of income, whether it’s from a job, benefits or other support.
- Itemise Your Expenses: Track your regular bills – rent, electric/gas/council tax, food, car or other transport, and any debts or loans.
- Review Financial Documents: Gather statements, bills and any documents that show your financial obligations. This can help you understand where you stand. However, it can be overwhelming. Don’t worry – there are organisations, including Juno, that can help you work through this.
Juno, Citizen’s Advice, and the debt-help charity Stepchange, will all help you for free. You can call or email Juno and search for your local Citizen’s Advice online or go to the main site for details. They have a useful website with lots of information and offices across the country. You can find the organisations here:
https://www.citizensadvice.org.uk
Secure Your Financial Documents
Ensure that you have access to all essential documents. This includes:
- Identification (passport, driver’s licence)
- Bank statements and credit reports
- Any legal documents related to your finances (contracts, agreements).
Consider storing these documents in a secure, private location—either a physical safe place or securely online with strong password protection. Never use anything connected to you for passwords, such as children’s birthdays or pet names. Make sure it can’t be guessed by the perpetrator of the abuse.
Open a Secure, Independent Bank Account
If possible (and it may not always be), open a bank account in your name alone. This step can be really worthwhile:
- Keep Your Funds Separate: Having your own account allows you to look after your finances independently.
- Access to Financial Tools: Look for banks that offer online services, secure apps and helpful customer support.
- Build Your Credit History: An independent account helps you start or rebuild your credit and this is a key step towards financial freedom.
Develop an Emergency Fund
An emergency fund provides a safety net in unexpected situations. Even a small amount saved regularly can build up over time:
- Start Small: Aim to set aside a small percentage of your income each month.
- Use a Separate Account: Keep your emergency savings in a separate account to avoid accidental spending.
- Build Gradually: Celebrate each milestone, knowing that every pound saved is a step towards greater security.
Create a Budget and Stick to It
A realistic budget is a critical tool in your financial safety plan:
- Set Clear Goals: Define what you need to cover including essentials, emergencies and savings for the future.
- Use Budgeting Tools: There are many apps and spreadsheets available that can help you monitor your spending and keep you on track. Always look at online reviews for apps and make sure they have been downloaded by lots of people before you install them. This will help reduce the risks of any security issues.
- Review Regularly: Your budget isn’t set in stone. Adjust it as your situation changes and as you meet your financial goals.
A previous blog about this subject may be helpful to read too. It has lots of valuable information about cutting costs, free training courses and further education opportunities. Read more here.
Secure Your Digital Financial Footprint
Today, much of our financial life is online. Protect your online presence:
- Change Passwords Frequently: Use strong, unique passwords for all your financial accounts. As said before, never use anything connected to you for passwords, such as children’s birthdays or pet names. Make sure it can’t be guessed by the perpetrator of the abuse.
- Enable Two-Factor Authentication: This extra layer of security helps protect your accounts.
- Be Wary of Public Wi-Fi: Avoid accessing sensitive financial information on unsecured networks.
We have a 3 Part Series on digital safety, with Part 2 helpful here.
Remember: You Are Not Alone
Rebuilding your financial independence is a process, and every step counts. It’s important to be patient and compassionate with yourself. At Juno, we are dedicated to helping survivors like you develop financial safety plans that empower you to protect yourself and your money.
Final Thoughts
By taking these steps, you are paving the way for a future where you have full control of your life. Every small victory is progress, and you deserve a safe and secure financial future.
If you ever need someone to talk to or simply a bit of guidance, please remember that our helpline is just a phone call or email away. Our dedicated team of trustworthy, compassionate women – many of whom have their own experiences as survivors – offer a completely confidential service without any judgement.
We’re here to help and support you every step of the way. You can read about the helpline team here.
Juno Help
Calls to our helpline are free from landlines and mobile phones within the UK and do not appear on itemised bills. There is no pressure and everything is confidential.
Helpline: 0808 800 0340
Sometimes our helpline is busy and you might not get through the first time, so please try again. We will always call you back if you leave a message stating it is safe to do so and if you leave us a safe contact number in your message.
If you are hearing impaired, text “Relay/NGT” to 18001 0808 800 0340. This option is available 24-hours a day, 365 days a year.
You can also email us on [email protected] 9 am – 9 pm.
Please note, we may not be able to respond to emails straight away, but will try to reply within 24 hours.
National Help
If you’re further afield, you could contact other charities like Women’s Aid, who have instant messaging and email contact on their website: https://www.womensaid.org.uk/
The National Domestic Abuse Helpline (0808 2000 247) also provide confidential support. They can help you make a safety plan, find safe housing, and access legal protections.
The deaf health charity Signhealth also runs a domestic abuse support service, DeafHope, using British Sign Language (BSL).
The Survivor’s Trust (for sexual abuse and assault support) – www.thesurvivorstrust.org