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In a recent Twitter conversation about LGBTQ money differences, we got pushback from a troll who claims that we’re inventing an issue that doesn’t really exist. But the numbers don’t lie. And if you look at the research around queer people and our finances, it’s obvious that we face a few challenges that others do not. So, how does being LGBTQ make money different for you? On this episode of Queer Money, we share seven ways LGBTQ money is different and provide the data to back up those claims   Subscribe to the show notes at: https://queermoneypodcast.com/subscribe

Show notes: https://queermoneypodcast.com/podcast/how-to-say-no-to-friends/ It’s hard to say no to friends and family when they ask us to do something that’s not in our budget. On this episode of Queer Money, we share seven steps to get better at saying no, discussing how to turn down an invitation graciously and explain yourself in a way your friends will understand. Topics Covered  How trying to keep up with the gay community got us into debt How social media exacerbates our desire to keep up with other’s Insta-worthy lives Why it’s okay to treat yourself so long as you’re not sacrificing your financial wellbeing 5 reasons why it’s hard to say no to friends and family How FOMO and the disease to please make us say yes to things we can’t afford 7 steps to get better at saying no to friends and family Why it’s important to say no quickly and firmly How to say no graciously and explain why you’re turning down an invitation What it looks like to propose an alternative that’s free or cheap Why it’s beneficial to practice saying no (without feeling guilty) Resources  Capital One 2021 Financial Wellbeing Survey 5 Steps to Make a Long-Term Financial Plan on Queer Money EP291 5 Steps to Make a Short-Term Financial Plan on Queer Money EP292 5 Steps to Make Your Daily Financial Plan on Queer Money EP293 CreditWise Debt Free Guys on Facebook Debt Free Guys on Twitter Debt Free Guys on YouTube Queer Money Facebook Group Queer Money on Instagram Subscribe on iTunes Email questions@debtfreeguys.com

Show notes: https://queermoneypodcast.com/podcast/low-cost-lgbt-retirement-cities/ This week's we scratch the surface of a listener's question about how to find low or lower-cost LGBT-friendly retirement cities. We decided to invite Jim and Luis, a gay couple who retired early and spent the last two years living mostly outside the US. They share their slow travel experiences, explaining how they decide where to go and what differentiates their nomadic lifestyle from being on vacation. Topics Covered Why Americans in general and the gay community specifically overspends How Jim & Luis describe themselves as Financial Independence/Retire Investors Why Jim & Luis got rid of ALL their debt before they quit their jobs How Jim & Luis build a monthly budget around their real estate investment income Jim & Luis’ experience living in Portugal, Spain and Mexico during the pandemic Making a mindset shift away from acquiring stuff to acquiring time How cost of living and gay friendliness help Jim & Luis decide where to live The benefits of Portugal’s Golden Visa program and how it works Why it’s better to be nomadic than to become a tax resident in Western Europe Jim & Luis’ experience with using their worldwide healthcare policy What differentiates a nomadic lifestyle or slow travel from being on vacation How to avoid lifestyle creep and say NO to the peer pressure to spend Resources  7 Different Types of FIRE on Queer Money EP285 CreditWise All Options Considered GoWithLess on YouTube Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Subscribe on iTunes Email questions@debtfreeguys.com

Show notes: https://queermoneypodcast.com/podcast/mutual-funds-and-etfs/ On this episode of Queer Money, we explain what it means to invest in mutual funds and ETFs as well as the pros and cons of each.  Free Resources: Credit Card Debt Slasher 5 Building Blocks of a Happy Gay Life Topics Covered  What it means to invest in mutual funds rather than individual stocks An overview of the different types of mutual funds (e.g.: objective-driven, index funds, etc.) The operating expenses and tax risks associated with investing in mutual funds How investing in just a few mutual funds offers a diversified portfolio What differentiates investing in ETFs from mutual funds How to find an exchange traded fund that aligns with your personal objectives The risks associated with investing in certain kinds of ETFs Why ETFs typically have lower fees and fewer regulations than mutual funds How most millionaires in the US built wealth by investing in their 401(k)s Why you should be using your employer-sponsored retirement account Resources  Stock Investing on Queer Money EP290 S&P 500 Russell US Indexes ‘A Survey of 10,000 Millionaires Found Most Built Wealth Slowly Over Time Using a Basic Tool Many Americans Overlook’ in Business Insider CreditWise Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

Show notes:  https://queermoneypodcast.com/podcast/daily-financial-plan/ ‎ On this episode of Queer Money, we discuss the five steps to creating a daily financial plan that supports your short- and long-term money goals. Topics Covered  5 steps to creating a daily financial plan that supports your short- and long-term money goals How daily habits like dining out, buying coffee or spending a night out at the bar add up over time How to set a daily budget around the idea of money chunking Why people who live on cash spend 12% to 18% less than people who use debit or credit cards The apps we recommend for budgeting, investing and monitoring your credit score Why it’s important to do a little something every day to learn more about money (and share that information with friends and family) Our favorite LGBTQ influencers and resources in the finance space Why it’s crucial to have fun and enjoy life while you work toward your long-term money goals Resources  Debt Free Guys Website Queer Money Podcast Debt Free Guys on YouTube 5 Steps to Make a Short-Term Financial Plan on Queer Money EP292 5 Steps to Make a Long-Term Financial Plan on Queer Money EP291 Credit Card Debt Slasher Toolbox Cash Is King on Queer Money EP034 CreditWise All Options Considered Geekstreamers Homo Money I Like to Dabble The Frugal Gay on Twitter Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Subscribe on iTunes Email questions@debtfreeguys.com

Show notes: https://queermoneypodcast.com/podcast/short-term-financial-plan/  On this episode of Queer Money, we share five steps to creating a short-term financial plan that supports your long-term goals, describing how to spend less than you make and put the difference toward your financial goals.  Topics Covered  5 steps to creating an effective short-term financial plan Why it’s crucial to choose short-term goals that support your long-term financial plan How to improve your cash flow by growing the gap How to increase your income with overtime, a part-time job or side hustle Why paying off debt is the fastest way to grow your net worth The tools available to help us spend less on the things we like to do already Why LGBTQ individuals go into debt keeping up with our friends How to build a social calendar that fits your budget Resources  5 Steps to Make a Long-Term Financial Plan on Queer Money EP291 How to Side Hustle with I Like to Dabble on Queer Money EP233 10 Easy Ways to Find Extra Money on Queer Money EP267 Credit Card Debt Slasher Toolbox Capital One Shopping How to Have a Fabulously Gay Social Life Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

Full show notes: https://queermoneypodcast.com/podcast/long-term-financial-plan/ ‎ On this episode of Queer Money, we share five steps to creating a successful long-term financial plan, explaining how your long-term, short-term and daily goals influence each other. Topics Covered  Why we have such a hard time reaching long-term financial goals How long-term, short-term and daily financial goals influence each other The 5 steps to creating your own long-term financial plan Choosing 1 to 3 QUEER money goals (Quantifiable, Understandable, Executable, Exciting and Relevant) The value of knowing the WHY behind your long-term financial goals Why we suggest opening separate accounts to fund each goal How to automate the process of saving for your long-term money goals Why we recommend sharing your financial goals with your LGBTQ friends and family Resources  Credit Card Debt Slasher Toolbox Go Bigger by Setting Goals the QUEER Way on Queer Money EP076 7 Quick Tips to Eliminate Debt Fast on Queer Money EP287 What’s the Difference Between a 401(k) and 403(b)? on Queer Money EP166 CreditWise Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes

Show notes:  https://queermoneypodcast.com/podcast/things-to-know-about-stocks/  There is no part of the economy set up for success quite like the stock market. In fact, we consider it one of the three killer pillars to financial independence. On this episode of Queer Money, we share the top three things you need to know about investing in the stock market. Topics Covered  How technology makes it easy to invest in the stock market What it means to own stock in a company The difference between common stock and preferred stock How a stock loses value when a company performs poorly Why we don't recommend putting all your money in one company The risks and rewards associated with investing in stocks How media hype, politics and the economy influence stock performance How we grew our net worth to $1M with stock investing The pros and cons of individual stock investing How to use a free stock research app to explore investing Resources  ‘GameStop, Reddit and Robinhood: A Full Recap of the Historic Retail Trading Mania on Wall Street’ on CNBC ‘These Stocks Are Surging After House Passes $1T Infrastructure Bill’ in Forbes ‘AMC Insiders Have Unloaded $70M of Stock This Year’ in Bloomberg Wealth Dogecoin CreditWise Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

Show notes:  https://queermoneypodcast.com/podcast/manage-money/ 7-Step Credit Card Debt Slasher Tool On this episode of Queer Money, we share our top six ways to better manage your money, explaining why you should get out of the Spending or Leveraging Class and join the Saving or Investing Class asap. Topics Covered  Why household debt is on the rise right now The pros and cons of the Great Resignation Why we are advocating for a Great Debt Reduction Our top 6 ways to better manage your money The danger in being part of the Spending or Leveraging Class How you benefit from joining the Saving or Investing Class Cultivating a belief that you are financially independent The importance of using banking products How voting in local elections impacts our financial security Using a spending analysis to help you reduce debt Resources  7-Step Credit Card Debt Slasher Tool Credit Karma FOMO Survey Capital One Post-Pandemic Financial Wellbeing Study The 4 Financial Classes on Queer Money EP227 Matthew Raymond on Queer Money EP275 3 Sources of Our Bizarre Money Stories Video Prudential 2018 Financial Wellness Census CreditWise Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

Show notes here: https://queermoneypodcast.com/podcast/fitness-tips-gay-men/ 40 isn’t fatal. You can be healthy, happy and fit in your 40s and beyond, provided you prioritize wellness and make movement a regular part of your life. And much like investing your money wisely, investing in the right workout routine can help you burn more calories and get the most out of your time at the gym. On this episode of Queer Money, we share our top five gay fitness tips for men in their 40s.  Topics Covered  Our top 5 fitness tips for gay men in their 40s The benefit of super setting weight-bearing exercises How to get the best ROI on your workout Why it’s crucial to maintain a consistent diet What high-nutrition foods we eat for breakfast, lunch and dinner How having a workout buddy helps us stay on track What you can do to control your cortisol level as you age Why it’s important to get adequate sleep The 5-step workout routine that works for us Additional Resources 5 Building Blocks of a Happy Gay Life 7 Cost-Conscious DIY Grooming Tips on Queer Money EP259 The Happy, Healthy, Wealthy Gay Men’s Toolbox Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

Do you feel obligated to spend money for the holidays? Yes, it is the season of giving. But if you’re taking on debt to buy gifts for friends and family, you may feel less festive and more stressed. But what if you had a plan to pay off that holiday debt fast? On this episode of Queer Money, we share seven quick tips for getting rid of debt as quickly as possible, challenging you to get crystal clear on WHY you want to pay off your cards and avoid accruing more debt. Topics Covered  7 quick tips for paying off holiday credit card debt ASAP How a clear WHY fuels you to keep working toward a goal when times get tough 3 strategies you can use to stop accruing debt Why we spend less when we use cash rather than credit or debit cards The benefit of paying your bills on payday vs. waiting until they’re due How to do a spending analysis to rein in overspending (e.g.: subscription services you don’t use) Our advice on building an emergency savings and keeping the money at arm’s length Our 5-step debt lasso method for paying off credit cards Putting extra money (e.g.: holiday bonuses) toward credit card debt Resources  Download the 7-Step Credit Card Debt Slasher 13 Christmas Savings Hacks on Queer Money EP286 NerdWallet Article on Cash vs. Credit Cards CreditWise 5 Building Blocks of a Happy Gay Life The Happy, Healthy, Wealthy Gay Men’s Toolbox Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

On this episode of Queer Money, we share our 13 best Christmas savings hacks, explaining how to decide who you REALLY want to buy gifts for and how much to spend. Topics Covered  How to decide who to buy gifts for and how much to spend Why you don’t always have to give gifts that are brand new When to shop to get the best deals on Christmas gifts How to simplify the way you celebrate to focus on the experience The 3 best places to shop for affordable fashion online How to save money by shopping with discounted gift cards The best apps for scanning products to find the best price Our favorite subscription boxes to gift for the holidays What Chrome extensions we use to find the best prices online How to ‘get physical’ and make your holiday more active How to learn about discounts by joining a retailer’s email list Our ‘elf on a shelf’ strategy for getting Amazon discounts Your right to opt out of celebrating in a commercial way Resources  Capital One Shopping CreditWise 5 Building Blocks of a Happy Gay Life The Happy, Healthy, Wealthy Gay Men’s Toolbox Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Queer Money on YouTube Subscribe on iTunes Email questions@debtfreeguys.com

Show notes: https://queermoneypodcast.com/podcast/types-of-fire/ Does the idea of reaching financial independence and retiring early (FIRE) appeal to you, but you don't think it's possible? Maybe your definition of FIRE needs a refresh.  On this week's podcast we discuss (and probably piss off the FIRE police) with our 7 different definitions of FIRE.  Topics Covered  Why we don’t subscribe to the idea that there’s one right way to do FIRE The 7 different flavors of Financial Independence, Retire Early How the traditional definition of FIRE involves living 100% off investment income What it means to be a Financial Independence, Retire Entrepreneur How Financial Independence, Retire Investors work to build their stock or real estate portfolios The strategies you can use to live on less and achieve Lean FIRE 3 examples of how an individual might make enough money to reach Fat FIRE How people in the Coast FIRE category leave high-pressure jobs for less stressful roles The healthcare benefits that come with working part-time in Barista FIRE Resources  Queer Money on YouTube What’s LGBTQ Financial Independence? on Queer Money EP281 All Options Considered Debt Lasso CreditWise 5 Building Blocks of a Happy Gay Life The Happy, Healthy, Wealthy Gay Men’s Toolbox Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Subscribe on iTunes Email questions@debtfreeguys.com

Full show notes: https://queermoneypodcast.com/podcast/effective-lgbt-leaders/  Would you like to be among the LGBTQ leaders who change the world for the better? What does an effective queer leader look like? On this episode of the podcast, we share the five traits of an effective LGBTQ leader.  Topics Covered  Why we need more LGBTQ leaders in C-suite positions How effective LGBTQ leaders own the fact that they’re queer The benefit of being active in ERG or BRG affinity groups in your company What distinguished confidence from arrogance How to develop confidence by creating a path of micro-wins How effective queer leaders under-promise and overdeliver The danger in getting caught up in superficial drama How effective LGBTQ leaders make it a point to give back How to adopt the habits of an effective LGBTQ leader Additional Resources  CreditWise 5 Building Blocks of a Happy Gay Life The Happy, Healthy, Wealthy Gay Men’s Toolbox Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Subscribe on iTunes Email questions@debtfreeguys.com

Show Notes:  https://queermoneypodcast.com/podcast/lower-student-loan-payments/ On this episode of Queer Money, Howard Divorkian joins us once more. This time to explain what it means to consolidate your student loan debt and why now is a good time to do so. He shares the difference between federal and private student loans, introducing us to the government’s Public Service Loan Forgiveness or PSLF program and describing how to lower your interest rate on bank loans. Listen in to understand why those of you on income-based repayment plans should still check into student loan debt consolidation and find out how where to go for help navigating the process! Topics Covered What it means to consolidate your student loan debt The difference between federal student loans and private student loans How people who work for nonprofits and government agencies can register to eliminate their federal student loan debt at the end of 10 years Where to go for help with student loan debt consolidation How to consolidate private student loan debt and lower your interest rate Why now is a good time to consolidate private student loan debt Why Howard doesn’t advise consolidating government and private student loans together How Debt.com helps you navigate the student loan debt consolidation process Why you should still check into student loan debt consolidation even if you’re on an income-based repayment plan or part of the PSLF program Additional Resources Credit Card Pay Off Plan Filing for Bankruptcy on Queer Money EP226 Debt Settlement on Queer Money EP238 Debt Management on Queer Money EP258 CreditWise Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram Subscribe on iTunes Email questions@debtfreeguys.com

Show notes here:  https://queermoneypodcast.com/podcast/gay-nomads-geekstreamers/  Does the dream of retiring and traveling the world seem completely out of reach? Too many of us in the queer community have resigned ourselves to working until we’re dead. But what if becoming a gay nomad is totally doable? Jimmy and Mack are the self-described nomadic nerds behind Geekstreamers, a blog where they share their epic stories of life after work, slow traveling around the world. On this episode of Queer Money, Jimmy and Mack join us to explain what inspired their shift from a condo in San Francisco and a vacation home in wine country to a downsized (but still fabulous!) RV life. Topics Covered Why Jimmy and Mack refer to themselves as the Geekstreamers How Jimmy and Mack ‘accidentally’ fell into the FIRE space What inspired the Geekstreamers’ shift from a condo in San Francisco and vacation home in wine country to RV life How having less space for stuff forced Jimmy and Mack to get their lifestyle under control (and save or invest 70% of their income) The correlation between shedding their material possessions and the freedom Jimmy and Mack feel Why the Geekstreamers transitioned from RV life to slow travel The 43 states, 31 national parks and 13 countries Jimmy and Mack have traveled to together How being a queer couple influences where Jimmy and Mack choose to visit How tracking their spending helped the Geekstreamers connect their behaviors to financial outcomes and build a budget around their values Why so few gay men are talking about FIRE compared to lesbian women How blogging about their journey holds Jimmy and Mack accountable Connect with Jimmy & Mack Geekstreamers Geekstreamers on Instagram Resources  The 4 Principles of a Debt-Free Life by John R. Schneider, III and David Auten The Credit Card Pay Off Plan 5 Building Blocks of a Happy Gay Life Happy, Healthy, Wealthy Gay Men’s Toolbox Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram  

Show notes: https://debtfreeguys.com/lgbtq-financial-independence/ Topics Covered on this Queer Money episode: What it means to achieve financial independence (and how it’s different from being independently wealthy) How Robert Kiyosaki defines wealth as having investments that cover your living expenses The freedom that comes from not having to work for someone else How financial independence allowed John to walk away from a ‘bad boss’ Why the queer community isn’t pursuing financial independence with the same vigor as the general population Why it’s a mistake to opt out of smart investments because you distrust capitalism How cascading homophobia and legacy financial exclusion make it more challenging for the LGBTQ community to achieve financial independence What we can do to encourage more queer people to seek financial independence Where to go for inspiration and resources around achieving financial independence Additional info mentioned in the show: All Options Considered on Queer Money EP160 Modern Fimily on Queer Money EP200 Our Freedom Years on Queer Money EP213 Compassionate Capitalism on the Queer Money Blog Todd Sears on Queer Money EP168 Cascading Homophobia on Queer Money EP230 Legacy Financial Exclusion on Queer Money EP268   Tools and Resources: 5 Building Blocks of a Happy Gay Life Debt Free Guys on Facebook Debt Free Guys on Twitter Queer Money Facebook Group Queer Money on Instagram

Show notes:  https://queermoneypodcast.com/podcast/values-and-standards/  Struggling to reach your goals despite how you value them? The problem may be your standards. Hear the power in aligning your values and standards with our guest Fletcher Ellingson. Get the 5 Building Blocks of a Happy Gay Life here: https://debtfreeguys.com/5bbhgl/?source=podcast  Connect with Fletcher Ellingson: https://fletcherellingson.com/ 

Show notes: https://debtfreeguys.com/bad-financial-habits/  Continuing our theme of suicide prevention and self-care in September, this week we talk about breaking bad financial habits, which can often lead to additional stress, anxiety and negative thoughts. Taking care of our finances is self-care that improves our mental health by reducing financial stress.  Get the 5 Building Blocks of a Happy Gay Life here: https://debtfreeguys.com/5bbhgl/?source=podcast  Start Improving Your Credit Score here: https://debtfreeguys.com/improve-my-credit-score/?source=podcast 

Show notes: https://queermoneypodcast.com/low-cost-self-care  Continuing our focus on National Suicide Prevention Month, this week on the show we share 9 simple, low-cost ways to take care of yourself both in body and mind. Plus we share how some of these can actually change the way your brain works.  Get the 5 Building Blocks of a Happy Gay Life here: https://debtfreeguys.com/5bbhgl/?source=podcast  Start Improving Your Credit Score here: https://debtfreeguys.com/improve-my-credit-score/?source=podcast