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Discrimination Means Children with LGBT Parents May Face Extra Economic Hardships
There’s a myth that LGBT parents are all affluent—a myth perpetuated by many in the media, who tend to focus on upper-middle and upper class families when they do LGBT family stories. The reality is much different. Children being raised by same-sex couples are in fact twice as likely to live in poverty as those being [...]
How to Apply for Financial Aid if You Have Same-Sex Parents: New York Times
The federal Free Application for Federal Student Aid (FAFSA) form asks applicants to list their “mother/stepmother” and “father/stepfather.” But applying for aid, if you have same-sex parents, isn’t just a matter of crossing one of those out and writing in the correct term, says Tara Siegel Bernard of the New York Times in her piece, “How to File for Financial Aid if Your Parents Are Gay.”
If there’s one thing I like as a consumer and erstwhile marketing professional, it’s a responsive company. I posted yesterday about a survey sponsored by TD Bank that explored how parents teach their kids financial literacy, but clearly focused only on opposite-sex parents. This morning, I received the following e-mail from Jimmy Hernandez, a media relations officer at TD Bank. I repost it here with his permission:
New Survey on Parents and Financial Literacy: Where Are the Same-Sex Parents?
April is Financial Literacy Month, and I’ve been receiving a number of related press releases, some silly and some less so. While I didn’t think many of you would really be interested in a talking piggy bank, I did think you might have some thoughts on a new survey from TD Bank. It’s titled, “TD Bank Financial Literacy Poll Reveals the Role of Parents in a Fiscally Fit Family”—although it really should be titled, “TD Bank Financial Literacy Poll Reveals the Role of Parents in a Fiscally Fit Heterosexual Family.”
Legal and Financial Hurdles for Same-Sex Parents
The New York Times has an article today on “The Extra Hoops Gay Parents Must Jump Through” in terms of legal and financial protections. Three experts, a lawyer, a financial planner and an accountant (which sounds like the start of a joke, but it’s not), offer their advice to a lesbian couple in Michigan with two children.
Thinking of Japan
Like many of us, my thoughts have been much with the people of Japan over the past few days. If your personal circumstances allow, you may want to consider giving to relief efforts through the Rainbow World Fund, a “an all-volunteer international humanitarian service agency based in the lesbian, gay, bisexual, transgender (LGBT) and friends community.” [...]
Family Finance with a Lesbian Twist: The Boston Globe Gets It Right
The Boston Globe this Sunday published an article titled, “Learning to adjust,” with a sub-heading explaining, “For millions of middle-class Americans, the recession has forever changed spending habits and forced a reconsideration of basic expectations–like retirement.” It’s a nice article about personal finance in our times. What makes it noteworthy, however, is that the two spouses profiled in the article are lesbian moms Liz Page and Marianne Stravinskas. The fact that they are a same-sex couple is incidental to the main thrust of the article, which is not about “gay” finance per se.
Which 529 to Choose?
Ready to open a 529 college savings account for your child? My spouse Helen has been looking into options for ours. Truth is, he already has 529′s in two states, but as we’ve both moved and learned more about 529′s, the options we’ve preferred have changed. (For the uninitiated: you are not required to open [...]
Scholarships for LGBTQ and Allied Students
Here’s a great resource for those of you with kids nearing college age. HRC has created a database of scholarships for LGBT and allied students. (Even though many straight children of LGBT parents consider themselves straight members of the LGBT community rather than “allies” per se, I assume they are eligible for many of these [...]
Same-sex parents are used to the routine of crossing out “Mother” or “Father” on various forms and writing in whatever applies to our family. What happens, however, when this is asked on the Free Application for Federal Student Aid (FAFSA) form, used by most colleges and universities to determine a student’s contribution towards the cost [...]
“She Got Me Pregnant”: Episode 98
Helen and I tackle financial literacy for kids and the origin of piggy banks. We then explain why indie rock band They Might Be Giants is becoming the Schoolhouse Rock for a new generation—and why the band has a special connection to LGBT families. On a somber note, we mourn the death of Brendan Burke, [...]
The ABC’s of IRA Inheritance for LGBT’s
Pointing out another fine post by my spouse at her blog. (Hey, Valentine’s Day is coming up. Gotta do what I can.) Want to know how to keep your disapproving Aunt Sally from ending up with your money? Read what Helen wrote the other day about The ABC’s of IRA Inheritance for LGBT’s.
Helping Haiti
I was going to write a post about donating to Haiti, but my spouse Helen did it instead. She’s pulled out a list of all the organizations providing relief in Haiti that are rated four stars by Charity Navigator. Charity Navigator also has some useful tips on evaluating who should get your money. We’re going [...]
“She Got Me Pregnant”: Episode 94
Helen and I discuss shopping for our new car and Helen shares her thoughts on why shopping “green” isn’t always as easy as it seems. (Helen also goes into more detail over at her place about our car purchase.) We also bring news of more lesbian birds trying to incubate eggs, and a project to [...]
Crash, Bang!
One of our cars was totaled last week. Let me quickly add that no one was hurt. Helen got rear-ended while stopped in traffic, and was pushed into the car in front of her, which happened to be a tow truck. If you’re going to have a car crash, that’s the way to do it. [...]
How Much More Does It Cost to Be a Same-Sex Couple?
The New York Times has just published a major new piece on the costs of being a same-sex couple. Their conclusion? Lifetime added costs range from $28,595 to $211,993. Authors Tara Siegel Bernard and Ron Lieber did extensive financial modeling and analysis, based on a hypothetical same-sex couple whom they chose to be similar to [...]
Let’s Hear It For Camp Winnebucca!
Kids go to day camp this summer? You might be able to claim the cost as a dependent care expense. My spouse Helen explains how in her latest post for Queercents, and even mentions a possible extra savings because the federal government does not yet recognize marriages of same-sex couples. (Yes, marriage inequality screws us [...]
Moneygami Marvels
My spouse Helen recently stumbled across the fascinating world of moneygami, origami using paper money. Some of the more clever designs even highlight the portrait of the person on the bill. It seems to be one of those niche hobbies that the Internet facilitates, although I am sure it far predates the Web. Helen has [...]
No Aversion to Conversion
My spouse Helen, whom I’ve lured into blogging, has just posted about the opportunity for lesbian and gay stay-at-home parents to convert a traditional IRA to a Roth. Because Uncle Sam still doesn’t recognize a partner’s income when we file our federal taxes, most of us lesbian SAHM’s (and gay SAHD’s) end up in a [...]
Money from My Honey
This morning’s post is a shameless plug for a couple of posts by my spouse, who writes about finance at her own blog and at Queercents. In Creative Personal Economic Stimulus: Boston’s Bounty Bucks, she discusses a nice idea for vouchers that turn $10 of regular food stamps into $20 to spend at the local [...]
Getting Married? Consider This Proposal
It should be a happy time for LGBT folks in New Hampshire, with a marriage equality victory making the springtime a little brighter. For the LGBTQ youth organization Seacoast Outright, however, things are looking bleak. The organization, which provides educational, social service and advocacy for gay, lesbian, bisexual, trans, and questioning youth in the greater [...]
My Best Investment Ever
(In honor of Mother’s Day, here’s a guest post from my spouse Helen, who writes about matters financial at her site, Affine Financial Services, and at Queercents. It’s a slightly different angle on our family story.) My best investment is not the traditional sort of realized gain, but rather, the investment of time, love, and [...]
Diversity of a Financial Sort
If you know even a few things about good investing, you’ll know that diversification is one of the fundamental keys to long-term success. This week over at Queercents (and on her own blog), Helen compares two popular ways of diversifying one’s investments, through index funds and exchange-traded funds (ETF’s). That may send some of you [...]
Charitable Deductions Warm You Twice
It’s tax day here in the U.S. My spouse Helen has a new post up at Queercents, in which she looks at how to maximize your tax deduction if you make charitable contributions. Never too late to start planning for the coming year, I say. She also explains how the current lack of federal recognition [...]
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