Get the 7 fastest steps to debt freedom!

7 LGBTQ Money Myths

LGBTQ money myths have a real impact

Myths about money can make us make bad decisions. That’s why we’re busting these LGBTQ money myths to find better solutions and make better decisions. Start your journey to financial independence by getting rid of any credit card debt with the free, 7-Step Credit Card Debt Slasher.

What are some LGBTQ money myths? 

The queer community dresses well, travels well, dines well and lives very well, right? The assumption is that LGBTQ people are all fabulous and living the highlife. And while we agree that we are all pretty fabulous, the supposition of gay affluence is a myth. A myth that can actually lead to bad decision-making in the queer community.

So, what other LGBTQ money myths impact our financial decisions? And what can we do to bust these myths and make better choices for our financial lives?

On this episode of Queer Money®, we’re sharing our top seven LGBTQ+ money myths, explaining how they impact the queer community and what to do about it. We discuss the myth that marriage equality means equality in all things and what’s behind the assumption that LGBTQ+ people are highly educated.

Listen in for insight on how homophobia and transphobia affect everyone and learn how to take steps to achieve the financial security you need to advocate for equal rights!

Listen in on our discussion and solutions to LGBTQ money myths:

Topics Covered

  • 7 LGBTQ+ money myths and how they impact our financial decisions
  • The myth that marriage equality means equality for everything
  • Why we recommend queer folks have more than the standard recommended 3 to 6 months’ worth of emergency savings
  • What’s behind the myth that LGBTQ individuals are only good at arts, entertainment, style, design and hospitality (and how to overcome it)
  • Why not having children doesn’t necessarily make it easy to achieve financial security
  • How HIV and AIDS continue to impact the queer community
  • Using the financial tools available to us to ‘plan like we’ll live forever’
  • The myth that LGBTQ+ people are highly educated
  • Why it’s crucial to ensure that you’ll be compensated accordingly for any advanced degree you earn
  • How homophobia and transphobia affect EVERYONE
  • How financial security gives us the time and money to advocate for equal rights
  • How access to cheap credit perpetuates the myth of gay affluence



Previous 3 Podcast Episodes



Connect with David and John


We’re David and John Auten-Schneider, the Debt Free Guys ( and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.

Leave a Comment