The phrase "financially damaging" is correct and can be used in written English.
You can use it to describe a situation in which someone or something loses or is likely to lose money. For example, "The financial crisis was financially damaging for many companies."
Cutting production to just 12 aircraft could be financially damaging for Airbus.
However, gossip can also be psychologically, legally and financially damaging to the victim when it is based on lies.
Whilst BA are offering to compensate expenditure during this waiting period I first have to pay all expenses up front, leaving me in a far from ideal and financially damaging situation.
Additionally the attacker could spawn multiple new cloud instances, using them for his own malicious intents and thus financially damaging the victim as he has to pay for the instances.
This was worse than inconvenient -- it was financially damaging.
Mayor Michael R. Bloomberg has called it "the largest and most financially damaging corruption scheme ever conducted within city government".
"It is in everyone's interest to avoid drawn out disputes which emotionally damage workers and financially damage businesses.
Their clients were not paying, or were paying more slowly, and the owners were left emotionally stressed and financially damaged.
The core weapon used by the government to financially damage the balance sheets of businesses is an Orwellian and cunning system known as the statewide alcohol linking program.
As I wrote in an earlier post, Windsor had standing to bring the case because she was financially damaged by DOMA.
Fox argued in the hearing and in court papers that it would be financially damaged if the Dodgers could shop their future TV rights to other potential buyers now, as opposed to next year.
