Financial Wellness & LGBTQ+ Youth
Save your pennies, Rainbow Squad! While the world of finance is becoming more inclusive and invested in our community, there is still a financial gap between LGBTQ+ and non-LGBTQ+ households. Luckily, Bankrate has created a guide to help queer folx navigate the obstacles they may face in their finances. Here are some tips:
Decide you are worthy of living a financially healthy life and that you deserve money in the bank. True luxury is self-love, self-acceptance, and not trying to impress the Joneses with a new crop top.
Create a monthly budget that works for you. Bankrate says, “A budget can keep your savings and spending in line with your short-term and long-term goals.” Check out their guide on saving money on a tight budget!
Set up an emergency fund. It will take time to build, so start contributing now!
Start saving now! Look into retirement accounts, namely an employer-sponsored 401(k) or an independently-established individual retirement account (IRA).
That impulse daisy dukes purchase isn’t worth carrying debt, so don’t buy what you don’t need. And let’s be honest, no one needs daisy dukes. Instead, should you find yourself in debt, consolidate high-interest credit card debt on a low-interest card by taking advantage of a 0% APR balance transfer offer.
Practicing good financial health as early as possible will surely pay off (pun intended). So whether you are a Camp Lightbulb alumnus or a current camper, it’s never too early to start saving your pennies. And if you know Camp Lightbulb, you know we want only the best for your future.
Written by Gina Kanegawa on June 22, 2021