Financial behavior and financial wellbeing of LGBT+

Lucy M. Delgadillo

Chapter 22 in A Research Agenda for Consumer Financial Behavior, 2023, pp 299-314 from Edward Elgar Publishing

Abstract: This chapter reviews the literature on the intersection of factors affecting the LGBT+ community and their financial wellbeing in the United States. The purpose is to provide an overview of financial and social issues that LGBTQ+ people face. This chapter summarizes statistics on poverty rates, familial rejection, health costs, lack of health insurance, and issues related to value-driven investing, savings, consumer credit, and student loans. It also reviews new federal rulings and protections in labor, housing and credit markets, marriage, and parenting. Findings suggest that the LGBT+ population is faring worse than non-LGBT+ individuals, they are remarkably diverse, and there is a ubiquitous need to develop more inclusive financial services. Fruitful research paths are explored, including the need to create learner-centered financial literacy programs and location-specific financial literacy instruction, and research on the effects of labor, housing, lending and credit discrimination, and social and familial rejection on their financial wellbeing.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2023
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