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What Makes LGBT Military Finances So Unique?

  February 11, 2020  |    #Eliminate Debt

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The shocking thing about LGBT military finances

77% of military service members are stressed about money. One-third don’t pay all their bills on time, and 58% carry credit card debt (compared to 34% of everyone else). Hear what’s even more surprising about LGBT military finances and get your free copy of the 5 Building Blocks of a Happy Gay Life here.

Let’s talk about the little-discussed LGBT military finances:

LGBT military finances

Mike Poulin is a Certified Financial Trainer at the Financial Gym, a financial services firm that takes a fitness-inspired approach to clients’ personal finances. He’s also a former active duty mechanic and Platoon Sergeant in the Marine Corps, currently serving in the US Army Reserves. Prior to joining the military, Mike spent seven years as a Debt Solutions Specialist at a credit union. Mike is passionate about helping people reach their financial goals and achieve financial freedom.

On this episode of Queer Money®, Mike explains what motivated him to join the military and shares his experience as an out bisexual in the Marine Corps. He addresses the financial challenges facing military servicemembers, discussing how he helped the Marines in his platoon cut costs and make more informed money decisions. Finally, learn how Mike’s creating a product tailored to active duty service members at the Financial Gym.

I’ve seen so many young military members stressed out about finances, and it’s one of the last things they should be stressed out about. - Mike PoulinClick To Tweet

Topics Covered on LGBT military finances

What motivated Mike to join the military

  • Audition for Marine Corps Band
  • Required to do same combat training

Mike’s experience as an out bisexual in the military

  • The first taste of diversity for many
  • Most people very accepting

The unique challenges of being bisexual in the queer community

  • Some gay men say ‘you have to pick’
  • Some straight women hesitant to date bisexual man

The financial challenges associated with being a married bisexual man in the military

  • Receive same benefits as any married service member (e.g.: housing allowance)
  • Stories of discrimination re: mortgage interest rates, receiving less for housing

Mike’s experiences as a Platoon Sergeant in the Marine Corps

  • The role involves helping individuals keep finances in order
  • Many living paycheck-to-paycheck
  • Inundated with unethical offers for cars, furniture

The concerning results of the NFCC surveys on military finances

  • 77% of service members report financial worries
  • 1/3 of servicemembers don’t pay all bills on time

Mike’s insight around military service and financial stress

  • Generic resources don’t address individual situations
  • Stress on marriage (spouses under- or unemployed)

Mike’s new role as a Certified Financial Trainer at the Financial Gym

  • Help people with financial literacy (no judgment zone)
  • Create a program customized for active-duty military

Connect with Mike at the Financial Gym

  • Financial Gym – use this exclusive link to get a 15% discount

5 Building Blocks of a Happy Gay Life

Resources for avoiding debt in the military

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