Originally published on the Beworth Finance site.
Beworth Finance LLC is proud to announce that it has officially joined the Pledge 1% initiative
Pledge 1% is a global movement to create a new normal, where giving back is integrated into the DNA of companies, big and small, at any stage. It includes over 8,500 companies in 100+ countries, including companies like Salesforce, Box, Postmates, Slack, and more, all committed to giving back 1% of either their time, product, profit or equity to their communities.
As part of our commitment, Beworth Finance will be giving 1% of its time and/or product to help survivors of domestic abuse get back on their feet.
Here at Beworth, we strive to make information about personal finance and money management more accessible and understandable to the wider community. We solve the issue of understanding your money, because we know a lot of information out there can be confusing or boring. However, improving your finances generally requires having control of your money to begin with – something that, sadly, not everyone has.
Unfortunately, there are members of our local communities who find themselves in abusive relationships, often without access to money or assets, who get locked into a cycle of abuse as a result. Financial abuse is a common tactic often used to control or isolate a partner, that can affect that person’s finances for the rest of their life.
“One in four women will experience domestic violence in her lifetime. 99 percent of all cases include financial abuse.” – The Allstate Foundation
A 2014 study conducted by the Allstate Foundation found that 99 percent of domestic violence victims had also experienced financial abuse. It can include a variety of tactics such as identify theft, demanding an unfair share of income, forcing a partner to miss work, and controlling all credit cards and other assets. Some people in abusive relationships may also be too scared to leave if they are financially dependent upon their abuser. Those living in poverty experience domestic abuse twice as often as those who are more wealthy.
In our small way, Beworth Finance would like to contribute to breaking this cycle, and help give survivors of domestic abuse some of the financial tools and support they need to get back on their feet. I commend Pledge 1% for getting companies at all stages to think about the impact they can serve in their local communities, and am excited to be part of this incredible effort.
Founder, Beworth Finance
If you or someone you know is in an abusive relationship and needs help, please call the National Domestic Violence Hotline at 1-800-799-7233.