Pay It Forward: Report #1
We raised $2,310 in 2 weeks!
Hello to the 1,516 hotties who subscribe to this newsletter! Thank you for being here.
Two weeks ago, I shared a new project on Instagram called Pay It Forward that provides free financial coaching for queer & trans folx living in states where anti-trans/anti-LGBTQ legislation has been introduced.
98 people have applied for free financial coaching and we have raised $2,310 so far! (Donate here.) Your donations have funded 12 free sessions, and I’m able to see a total of 17 lovely people from the list of applicants!
Here’s the full report:
Demographics
Of the 98 applicants:
50% are people of color
29% are Black
6% are Indigenous
11% have children
Income & debt payments
Average monthly income: $2,980
Average monthly debt payments: $767
26% of the average applicant’s income goes toward paying off debt
20% of applicants make $1,000 per month or less
Location
36% live in Texas
25% live in Florida
Here’s the full breakdown below:
Financial concerns
Applicants’ top financial concern is moving to a safe state (26%)
81% said they need an emergency savings fund
67% said they need help paying off debt
64% said they need to earn more to meet their basic needs
We raised $2,310 for free financial coaching sessions in 2 weeks!
Here’s how your money is being spent:
$187 in administrative costs
12 free financial coaching sessions
There was a total of 20 donations.
The average donation amount is $115
40% of donations are under $100
We have 1 monthly donor who gives $150 per month
We’d love to get 5 more monthly donors by the end of January. You can also make a one-time donation using this link.
Friendly reminder: You can fund financial coaching sessions for a loved one. The donation page lets you write in their name and email address. It looks like this:
If you go this route, your loved one does not need to apply for the scholarship. We’ll contact them directly.
Reach out to leo@queerandtranswealth.org if you have any other questions.
This is amazing!
👏🏽👏🏽👏🏽