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Overcoming Transgender Money Issues

Transgender money issues

While the fundamentals of money are the same for all of us, the experiences, risks and concerns for queer money is different from straight money. Within the LGBTQ community, the degree of struggle varies, including transgender money issues.

Queer and transgender issues with money meet

Our experience as cis, white, gay men is different from that of transgender individuals who may find it challenging even opening a bank account because they often don’t look like the picture on their driver’s license. So, what can we learn from listening to their stories?

Brynne Conroy of Femme Frugality returns to Queer Money™ to talk about her bestselling book, The Feminist Financial Handbook: A Modern Woman’s Guide to a Wealthy Life. One of the women featured in Brynne’s book is Nicole Lynn Perry, a transgender veteran and rainbow community advocate based in Seattle.

Brynne and Nicole join us to discuss The Feminist Financial Handbook. Brynne explains what drew her to Nicole’s story and why she chose to include it in her book. Nicole shares her background serving in the US Marine Corps before transitioning and eventually becoming an activist for the queer community in general and transgender service members specifically.

Nicole explains what life is like for a transgender person in the US, describing the challenges around changing your name and gender marker and the difference in the quality of life-based on where one lives in the U.S.

Learn more about transgender money issues:

Topics covered about transgender money issues

Brynne’s book, The Feminist Financial Handbook

  • Looks at money from the intersectional feminist perspective
  • Offer workarounds and advocate for cultural changes

The definitions of heteronormativity and cisnormativity

  • A damaging assumption that everyone straight, gender born with
  • System disenfranchises those who are not cisgender/heterosexual

Why Brynne included Nicole’s story in her book

  • Impressed by resilience, willingness to speak out

Nicole’s background and experience

  • Served in US Marine Corps from 2008-2013
  • Started transition after leaving service
  • Activism in the community (bathroom bills, transgender in the military)

What life is like for a transgender person

  • Scary time in general but day-to-day depends on location

How the process of changing your name and gender marker differs by state

  • File paperwork with doctor signature in Washington
  • Must also go in front of a judge in Texas
  • Alabama requires completed surgery

The challenges transgender people face around IDs 

  • Appearance may be different from card
  • Sometimes denied services due to the disparity

The administrative steps necessary to change your name and gender marker

  • Update driver’s license or state ID
  • Update name AND gender with the social security office
  • Keep legal documentation (e.g.: Google doc, physical copy)

The industries and locations that are trans-friendly

  • High-demand value-add jobs like IT, the airline industry

The value in having more transgender financial planners

  • Difference between support and someone like you
  • Understand nuances, feel comfortable sharing

Where the LGBT community tends to live in the US and Canada

  • Coasts of US + Illinois (progressive business laws)
  • Drawn to urban settings in Canada

Brynne & Nicole’s insight on the overlapping challenges among groups

  • Similar struggles between LGBT and women but DEGREE varies
  • ‘Always take time to listen to someone else’s story’

Connect with Brynne & Nicole 

Resources to overcome transgender money issues


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