The LGBTQ millennial community face social challenges many of their generational counterparts do not, and there's growing evidence that is taking a toll on their finances.

LGBTQ millennials have more student debt, lower average income than peers and, overall, feel less financially secure, according to recent surveys.

Seventy-one percent of LGBTQ individuals with a bachelor's degree have student loan debt, and almost one-fifth owe more than $100,000, according to a TD Bank survey. Only 50% of respondents rated their current financial situation positively.

In some respects the financial struggles of this community match a larger economic inequality problem in the U.S., but the problem is even greater among LGBTQ individuals. Sixty percent of LGBTQ workers have less than three months in emergency savings, according to the TD Bank study. A recent Federal Reserve study showed that 40% of American adults could not handle a $400 emergency expense.

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Similar surveys show the financial standing of LGBTQ millenials is bleaker than that of the rest of their generation. A 2018 TD Ameritrade survey found LGBTQ millennials on average made $59,400 a year, while their straight counterparts earned $67,800. Likewise, 41% of straight millennials surveyed felt financially secure, while only 29% of LGBTQ millennials concurred.

"Unless we have economic equality for all, the members of the LGBTQ community will continue to struggle to achieve financial success," said Jonathan Lovitz, an LGBTQ2+ youth and business advocate.