Queer Money®: How Gay People Do Money

What is the financial state of LGBTQ families? Are we as Queer people ready to retire? We invite Lisa Campbell and Stephen Brokaski of MassMutual on the show this week to share the data from two ground breaking studies that look at the state of LGBTQ families and the preparedness of LGBTQ retirees and pre-retirees. The data was pretty surprising, especially for a community that is often perceived by the media and masses as being fabulous and financially set. What we uncover in this podcast should give every Queer person pause when it comes to how and where we spend our money.

It doesn't matter if you're gay, lesbian, bisexual, transgender or queer, it seems like the travel bug and wunderlust seems to hit us all. Did you know that the LGBTQ community spends upwards of 10% of our income, no not disposable, all income, on travel. With that much being spent, there has to be a way to curb your travel costs. We've come up with a list of 9 gay travel apps and sites that will help you travel cheaper, safer and better. Check out the list.

November is National Adoption Awareness Month. The LGBTQ community is more likely than the general population to be adoptive parents. The costs associated with adoption can range from foster care adoptions with many of the costs being covered by the local foster care system, to infant adoption with a birth mother, which can be much more. How can you prepare? We've invited Adrienne Elliott of Adoption Options to help explain the process and options for prospective LGBTQ parents.

There are currently over 100,000 children in the foster care system in the United States. These are children waiting to find a forever home with a mom a dad or maybe two of each. Have you ever considered foster care as the path to creating your family? On this week's Queer Money we kick off a two-week celebration of National Adoption Month. We've invited Jillian Johnsrud of MontanaMoneyAdventures.com to join us. She and her husband have adopted four children, the first when she was just 22. Here her story along with detail on how you can help the hundreds of thousands of children waiting for a parent to take them home. Get the full show notes here: https://debtfreeguys.com/lgbt-foster-parents/ ‎

Love a good holiday cocktail party? I thought so. We've thrown our fair share of parties over the years, some great, some not so great. We've learned that you don't need to spend a ton of money to have a great party. If you're planning a holiday party this year and want to stay within your budget we've got some great suggestions for you. In fact we've got 7 tips that will help you keep your budget under $100. We've also included a grocery list and menu, along with a couple of signature cocktail recipes. Get them here: www.debtfreeguys.com/128

This week on Queer Money, we focus on explaining the questions you've asked us about credit scores. When asked, you, our listeners and readers, told us that improving your credit score was your #3 financial goal, behind eliminating credit card debt and saving for retirement. We dive into questions like: 1. What’s the easiest way to find my credit score? 2. Why is my credit score different depending on where and when I get it? 3. How many points do hard inquiries take off my credit score? 4. Couldn’t I apply for more credit, thereby increasing my available credit, to lower my credit utilization? 5. What’s the best, most efficient way to improve my credit score? Queer Money is made possible by the support of MassMutual. Thank you for supporting this podcast. To learn more about MassMutual's work in the LGBTQ community, click here: www.debtfreeguys.com/go/massmutual

If you are a small business owner, the value of your business is something that can make or break your ability to stay in business, especially when it comes to getting loans. Your business valuation number will help with legacy planning and even how and who should manage your business when you're ready to take a back seat. On this episode of Queer Money we invite Tracy Shaw, AVP of Business and Market Development at MassMutual Financial Group, to talk with us about how MassMutual is helping small business owners determine their business valuation, the tools they use and offer as well as how their advisors include this important number in overall financial planning for their clients. Queer Money is made possible by the support of MassMutual. Check out how MassMutual supports the LGBTQ community at www.debtfreeguys.com/go/MassMutual

June 26, 2015, brought gay marriage to the land. June 27, 2015, brought gay divorce. Sadly LGBTQ unions are not impervious to irreconcilable differences. So what is a queer person to do to protect their finances if divorce seems to be looming on the horizon? How can we prevent it from being a colossal financial nightmare? We're joined by Kayla Sloan and Shanah Bell of CashWiseExwives.com to share their respective stories of divorce and how they are now equipping both women and men to be financially prepared for the undo of the "I do." Queer Money is made possible by the support of MassMutual. If you enjoy this podcast please thank MassMutual.

One of the biggest financial concerns of the LGBTQ community is healthcare. Many queer people worry about changes to the Affordable Care Act under the current administration. There is a lot of noise surrounding the Affordable Care Act, and that makes it difficult to distinguish what is true from partisan rhetoric. A recent Policygenius survey regarding the ACA reveals that literacy around the law—and health insurance in general—is distressingly low. So, where can we go for accurate information as open enrollment approaches? Join us, along with Myles Ma from Policygenius as we discuss changes and what you can do to be better prepared. Queer Money™ is made possible by the support of MassMutual. Please join us in thanking them for their continued support of the LGBTQ community. To learn more about MassMutual visit https://debtfreeguys.com/go/massmutual/

Queer Money™ this week is all about your questions. We've taken 3 questions from the Queer Money™ Facebook group and are sharing our thoughts with you on these 3 topics. They includ: How to choose a charity to give money to when I am finally done paying off my debt? How much do members of the group spend on dining out each week? How much should I be tipping when I am dining out or at a coffee shop? Queer Money™ is made possible by the support of MassMutual. Please join us in thanking them for their continued support of the LGBTQ community.