Study: Gay People Earn More, Save More and Have Less Debt

Gay People Earn More and Have Less Debt, Study Says

A new study by Prudential shows that gay people are better at managing their money than the average American.

Lesbian, gay, bisexual and transgender (LGBT) Americans earn more, save more and have less debt.

About 1000 LGBT respondents participated in the study and not only reported significantly higher annual incomes — $61,500 compared with the national median of $50,054 — but they also carried about $4,000 less debt than the average American and had $6,000 more in household savings.

They were more likely to be employed too, with an unemployment rate of 7% versus the national rate of 7.9%.

Read the whole story at CNN Money.