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The Shocking Thing About LGBT Military Finances
77% of military members experience money stress. A third don’t pay all their bills on time and 58% have credit card debt (compared to 34% of everyone else). Find out what’s even more surprising about LGBT military finances and get your free copy 5 building blocks for a happy gay life Here.
Let’s talk about the little-discussed LGBT military finances:
LGBT military finances
Mike Poulin is a certified financial coach at Financial Gym, a financial services company that takes a fitness-inspired approach to clients’ personal finances. He is also a former active duty mechanic and platoon sergeant in the Marine Corps and currently serves in the U.S. Army Reserves. Prior to joining the military, Mike worked as a debt solutions specialist at a credit union for seven years. Mike is passionate about helping people achieve their financial goals and achieve financial freedom.
In this episode of Queer money® Mike explains what motivated him to join the military and shares his experiences as an out bisexual in the Marine Corps. He addresses the financial challenges military members face and discusses how he has helped the Marines in his platoon cut costs and make more informed money decisions. Finally, learn how Mike at the Financial Gym creates a product tailored to active military members.
Covered LGBT military finance topics
What motivated Mike to join the military?
- Auditioning for the Marine Corps Band
- Required to complete the same combat training
Mike’s experience as an out bisexual in the military
- For many it is the first taste of diversity
- Most people are very accepting of it
The unique challenges of being bisexual in the queer community
- Some gay men say, “You have to choose.”
- Some straight women are hesitant to date a bisexual man
The financial challenges associated with being a married bisexual man in the military
- Receive the same benefits as any married military member (e.g. housing allowance)
- Stories of discrimination regarding: mortgage interest rates, lower housing costs
Mike’s experiences as a Platoon Sergeant in the Marine Corps
- The mission is to help individuals keep their finances in order
- Many live paycheck to paycheck
- Flooded with unethical deals on cars and furniture
The worrying results of the NFCC military finance surveys
- 77% of military members report financial concerns
- 1/3 of military members do not pay all bills on time
Mike’s insight into military service and financial stress
- General resources do not address individual situations
- Stress on marriage (spouse underemployed or unemployed)
Mike's new role as a certified financial trainer at Financial Gym
Help people with financial knowledge (no judgment)
Create a customized program for active military members
Connect with Mike at the Financial Gym