Diversity, Equity, Inclusion & Belonging: Pride Month
In this DEIB installment of Financially Naked: Stories from The Financial Gym, Rachel Adaline, HR Manager at The Financial Gym, and Erika, a Certified Financial Trainer, celebrate Pride Month. They dive into the specific financial challenges faced by the Queer community, including the cost of living in queer-friendly areas and the financial aspects of family planning. Join Rachel and Erika for an insightful discussion packed with tips and strategies for managing queer finances.
Podcast Notes
Introduction to Pride and DEIB
Rachel and Erika celebrate Pride Month and explain its importance in the context of Diversity, Equity, Inclusion, and Belonging (DEIB).
June is Pride Month! We celebrate Pride Month each year to honor the 1969 Stonewall Uprising in New York City, a pivotal event in the LGBTQIA rights movement.
There are so many ways to celebrate Pride. Check to see if your city has a parade or if there are other events to attend throughout the month.
So much progress has been made since then, but there is still quite a bit of work to do to reach full equity for all.
The Cost of Queer Friendly Cities
The traditionally known ‘queer friendly’ cities can be expensive places to live. The average home prices in cities like New York, Palm Springs, Fort Lauderdale, Portland, and Provincetown all have above average house prices.
When choosing a place to live, people want to feel safe, welcome, and part of a community.
Not every queer person wants to live in a ‘big’ city. Resources like https://debtfreeguys.com/gay-cities/ can be a great place to research cities that may be in your budget.
Specific Financial Challenges
Similar to the gender pay gap, there is also a queer pay gap. While it is not illegal to discriminate against someone’s sexuality during the hiring process, Queer people face discrimination when trying to get hired.
Depending on your journey, there may be medical costs to consider. This can include hormone treatment, surgery, or gender affirming accommodations.
Family Planning
Being Queer can add a layer of complexity and cost to family planning. Some insurance companies have started to get on board with these treatments, but you may also have to plan to pay out of pocket.
Estimates for various family planning methods:
Adoption: $20,000 - $70,000
Surrogacy: $100,000 +
IVF: $13,000-$20,000 per cycle.
Erika shares her personal experience with IUI, which is less expensive than IVF but still costly and not covered by insurance. She tells us about the process of selecting a donor and working with a Queer Conception Midwife.
The process of starting a family can take time. Do your research, call around to confirm prices if your insurance will not cover the costs, and make the best decision for you and your family.
If you want to work with a Certified Financial Trainer to help navigate your finances, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Resources