Be an Ally, Be Kind.

We all have one thing in common: we are all human beings first. Yet, many people continue to face discrimination for various reasons. Financial wellness in the LGBTQ+ community encounters unique challenges and setbacks. Everyone deserves access to financial products and services in an equitable environment. The 2024 LGBTQ+ Financial Wellness Report’s key findings highlight the need for significant improvement in financial inclusion.

– Approximately half (48.15%) of LGBTQ+ adults report being financially unwell, compared to a quarter (25.7%) of the public. Both BIPOC and younger LGBTQ+ adults (aged 18-24) are even more likely to say they are financially unwell.

– Three in ten (30.8%) LGBTQ+ adults have experienced discrimination while accessing financial services.

– Nearly 60% of LGBTQ+ adults have annual household incomes below £75,000.

– In the UK, LGBTQ+ individuals earn about £7,000 less annually than their non-LGBTQ+ counterparts.

Maruka Rivers, Director of Economic Empowerment Programs at the Human Rights Campaign Foundation, stated, “The data underscore the need for our economic empowerment programs, especially for younger BIPOC LGBTQ+ folks. I hope the data are a call to action for organizations serving our community. Given what we know about who is struggling the most, these organizations have an opportunity to center BIPOC young adults by being culturally responsive, trauma-informed, and offering voice and choice to young people.”