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11 Things LGBT Immigrants Must Know about Money

LGBT immigrants and queer money

The LGBT and immigrant communities have a lot in common, and we’re helping both communities with their money. Here’s what LGBT immigrants should know about money.

What LGBTQ should know about LGBTQ money

For LGBT immigrants, deportation back to a country where homosexuality is illegal can be a death sentence. Having the financial resources to fight for your rights is crucial for any marginalized community, but how does an immigrant learn to navigate the U.S.’s complex financial systems?

Hear more about LGBT immigrants and money:

Adina on LGBT immigrants and money

Adina is an immigration attorney and personal finance blogger at Immigrant Finance, a platform that makes it easier for immigrants to develop stability, build wealth and thrive in a new country. When Adina’s husband moved to the US in 2013, they struggled to find information on simple things like opening a bank account or signing up for a first-time credit card, and they created Immigrant Finance to share their years of research with others. Adina has been named one of Forbes 30 Under 30, and she is both a Fulbright Scholar and the winner of an Equal Justice Works fellowship.

Today, Adina joins us to discuss the commonalities between the immigrant and LGBTQ communities. She describes the experience of being an immigrant to the US, offering insight around their money mindset and the challenge of navigating our complex financial systems. Adina explains why many immigrants distrust banks and what couples with one immigrant partner can do to prepare financially. Listen in for insight on the repeal of DOMA and its impact on immigration and learn how the immigrant and LGBTQ communities can work together for equal rights!

Topics covered about LGBT immigrants and money

1. The experience of being an immigrant in the US

  • LGBT immigrants are unfamiliar with the U.S.’s complex financial systems
  • Many distrust banks and have no credit history

2. The money mindset of immigrant is typically different than Americans’

  • Fear mode (living paycheck to paycheck)
  • Deal with different concerns and risks

3. How immigrants get personal finance information

  • Resilient, resourceful people in the community
  • Lack of financial education in general

4. Why many immigrants mistrust financial systems

  • Come from countries where institutions crumble
  • Lack of basic sense of security (e.g.: FDIC insured)

5. How the repeal of DOMA impacted immigration

  • LGBT immigrants’ spouses can petition for a green card
  • Immigration policies that are changing under Trump

6. What couples with one immigrant partner can do to plan financially

  • Co-sign credit card account to build a credit history
  • Set up immigrant empowerment fund for emergencies
  • Create a paper trail to establish dates living in the US

7. The value of employing an immigration attorney

  • 6 times more likely to win their case
  • Complicated cases cost up to $15,000

8. How an undocumented immigrant can protect their money

  • Establish a bank account with an ITIN number

9. The ideal path to immigrate to the US

  • Few ways to immigrate legally (without having to wait in ‘line’)
  • Family member sponsor is the main route
  • It’s rare to get status through an employer

10. How the immigrant and LGBTQ communities can work together

  • Stronger together in fighting for equal rights
  • LGBTQ immigrants may fear for lives in home countries

11. Adina’s advice for immigrants

  • Planning ahead gives immigrants agency over a bad situation
  • Educate yourself to protect the people you care about

Connect with Adina and LGBT immigrants

Resources for LGBT immigrants

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