A person’s sexual orientation may help determine his or her level of financial cynicism, according to a recent survey by OverdraftApps.com, a personal finance advice blog.

Members of the LGBTQ community have less faith in banks and other financial institutions than other groups, according to the survey of 1,009 people that included 114 who self-identified as being part of the LGBTQ community.

Ninety percent of the LGBTQ community does not trust financial institutions to be working in their best interests, compared to 75 percent of the general population, the survey said. A variety of factors, including the level of income, may play a part in that difference, OverdraftApps.com said.

Taking the survey population as a whole, the public does not seem to have much confidence in either politicians or Wall Street. The survey participants were asked if they ever were taken advantage of by a financial institution. Half said they had the experience often, and another 37 percent said they had the experience sometimes.

Seventy-eight percent of all respondents said they do not trust that the current administration will do much to change that situation and 83 percent said President Trump in particular would not help.

The survey also showed a marked difference exists between income levels for LGBTQ people and the general population. Only 14 percent of the general population reported making less than $25,000 a year, but 25 percent of the LGBTQ community reported making the same. Approximately 32 percent of the general population earns between $50,000 and $75,000 annually, compared to just 25 percent of the LGBTQ community. Sixteen percent of the general population earns $75,000 to $100,000 a year, compared to 12 percent of the LGBTQ community.

The lower incomes may contribute to the fact that the LGBTQ community overdraw bank accounts that have overdraft protection at a higher rate versus the general population, OverdraftApps.com said.

The OverdraftApps.com survey revealed that 18 percent of the LGBTQ community uses overdraft protection between three and nine times over a 12 month period compared to 12 percent of the general population. At the same time, 32 percent of the LGBTQ community has overdraft protection on their checking accounts compared to 39 percent of the general population, the survey said.

Fifty-four percent of the general population reported never over drafting in the past year, compared to 47 percent of those in the LGBTQ community. “This can be associated with lower incomes and more financial pressure from month to month,” said OverdraftApps.com.

OverdraftApps.com said the survey showed LGBTQ people are using credit cards responsibly to build a credit history. Most do not use cards to buy luxury items.

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