LGBTs Are Better Money Managers Than Most Americans

A new poll shows that gay people are a lot better at managing their cash than average Americans.

“At Prudential, we wanted to take an in-depth look at the current financial landscape for LGBT Americans to better understand the financial challenges and concerns of the community as a whole, same-sex couples and LGBT parents. The research findings are eye opening and dispel common perceptions.”

The poll, conducted by Prudential, shows that homosexuals generally tend to make more money and have a lower unemployment rate than straight Americans. LGBT respondents boast an average annual income of $61,500 on a national median of $50,054, reports MSN. Additionally, unemployment among LGBTs is at 7.0, lower than the national rate of 7.9 percent.

Additionally, gay people are better savers than most Americans as well. Turns out, most homosexuals have about $6,000 extra tucked away for a rainy day than most Americans do.

Debt levels among gay people are lower than the average American as well: about $4,000 lower to be exact.

“By understanding, anticipating and responding to the needs of the LGBT community, financial services firms have a significant opportunity to make an impact on their business as well as on the lives of this distinct yet diverse group of Americans.”

The study authors admit that the recession has impacted the LGBT demographic and that a greater understanding of their financial habits is needed to protect their interests, but all this study says to me is that homosexuals may inadvertently become the targets of various wedding and event planners in the near future.

In any case, congratulations on prudent money-sense, LGBTs! You can read the entire Prudential study here.