Money Management

Everyone wants to feel safe and respected on the job. Keep reading to learn more about where you can find companies that support the LGBTQ+ community. 

It’s Pride Month, a time to celebrate and support the lesbian, gay, bisexual, transgender, and queer/questioning (LGBTQ+) people whom we call friends, share a workplace with, or live in our homes. June also presents a great time to give a shout out to the companies that go out of their way to provide the LGBTQ+ community with an inclusive, safe, and supportive work environment.

In its work with thousands of companies, FlexJobs has identified 800 that truly support LGBTQ+ workers. To be included on the list, a company had to:

Be recognized on the Human Rights Campaign’s Best Places to Work for LGBTQ+ Equality list. This list ranks organizations on corporate policies, practices, and benefits important to the LGBTQ+ community.Be actively hiring for fully-remote jobs as of May 30, 2023.

We don’t have room to feature all 800 companies in this article, but here are seven randomly chosen from the list.

1. 3M

A company that’s been around since 1902 and operates in over 65 countries, 3M is involved in all sorts of industries, from healthcare to automotive. In a truly innovative move, 3M implemented a “Work Your Way” policy that allows employees to choose whether they wish to work remotely, in-office, or in a hybrid arrangement.

Recent jobs postings have included:

Payroll and Time AnalystMaster Data AnalystTax Analyst

2. American Family Insurance

American Family Insurance earned a perfect score on the Corporate Equality Index administered by the Human Rights Campaign. This inclusive insurer also offers a sweet benefits package, including flexible paid time off, a 401(k) retirement plan with company match, parental and family leave, health membership stipends, tuition reimbursement, and mental health support programs.

Recent job postings have included:

Trial AttorneyBinding Authority UnderwriterMarketing Strategy and Planning Consultant

3. CarGurus

CarGurus, the company that provides consumers with the tools they need to buy, finance, and/or sell a car, is continually on the lookout for employees who strive “to create a workplace where everyone feels they can bring the ultimate expression of themselves and their potential.”

Recent job listings have included:

Senior Enterprise Applications EngineerRegional Sales DirectionRegional Sales Executive

4. Emerson

Founded 133 years ago, Emerson is now an international, Fortune 500 manufacturing company working to solve complex customer challenges across the commercial, industrial, and residential markets. As a side note, Emerson was named one of CareerBliss’s “50 Happiest Companies in America.”

Here’s a sample of recent job postings:

Customer Service SpecialistHuman Resources ManagerEvent Coordinator

5. Lowe’s

What was once a small hardware store has grown into the second-largest home improvement store in the world. It’s also one of the “Happiest Retailers to Work For,” according to Fortune magazine, and a military-friendly employer.

Recent job listings have included:

RecruiterCustomer Experience ProfessionalPackaging Designer

6. Under Armour

Manufacturer of casual and sports apparel and footwear, Under Armour is dedicated to giving back to the communities in which its employees live and work. In addition to children’s athletic programs in underserved communities, Under Armour supports the Wounded Warrior Project and promotes fitness for women as a way to combat breast cancer.

Recent job listings have included:

Channel Merchandising DirectorSports Marketing LeadSenior Manager, Financial Planning and Analysis

7. Wells Fargo

This financial giant offers a full menu of services, including banking, investments, new mortgage loans, and insurance. Wells Fargo employs around 270,000 people throughout its 90-plus businesses.

Recent job listings have included:

Lead Communications ConsultantOperational Accounting AssistantSenior Administrative Assistant

How to begin your job search

If you’re curious about current openings, take a look at FlexJobs job listings. While you can browse the site for free, you’ll have access to insider information and the ability to apply for a position directly from the FlexJobs site by signing up for a membership. Here’s a breakdown of current membership costs:

1 week: $9.951 month: $24.953 months: $39.951 year: $59.95

And if you’d like to see the full lineup of which businesses earned a rating of 100% on the Human Rights Campaign’s Corporate Equality Index, visit FlexJobs’ Best Places to Work for LGBTQ+ Equality list.

For anyone who’s always wanted to work for a company that values people for who they are, there’s never been a better time than now to recognize the businesses that are getting it right.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Wells Fargo is an advertising partner of The Ascent, a Motley Fool company. Dana George has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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If you’re thinking about launching your own business, make sure you have the right amount of money in savings. Here’s how much to save. 

Starting a business of your own can be a great way to earn a living, although it’s not a sure thing. The Bureau of Labor Statistics data consistently shows that about one in five small businesses will fail within the first two years.

Because there are some risks involved, you’ll want to be sure you’re in a good financial position before you jump into becoming an entrepreneur. But what exactly does this mean? How much money should you have in savings before you launch a company?

Here’s how to find out.

Make sure you have enough to cover your living costs

Depending on what kind of company you start, your business may not be profitable right away. In fact, it can take a few years before you start consistently earning money even if you are on the path to success. Of course, you will still need funds to live on during that time.

If you are planning to keep working at your current job while you grow your business, then you may not need any extra money set aside in your savings account to cover living expenses while you’re getting your company off the ground. But having an emergency fund is a good idea whether you’re trying to start a company of your own or not.

But, if you are planning on quitting work or cutting back your hours, you must make sure you have enough saved to pay the bills and float you until you can start bringing home a paycheck. Ideally, you should ensure you have sufficient savings to cover at least six months of expenses and probably closer to a year or longer so you don’t have to rely on credit cards or otherwise fall into debt.

It can be hard to save enough to pay all your bills while working on a business that’s not bringing in any income. That’s why it’s often a good idea to start your business on the side while continuing to bring in a paycheck if you can. As your company grows and begins producing money for you, you can cut back on your hours and give up your “day job” altogether.

Make sure you have enough to cover start-up and operating costs

You will also need to have money saved to get your business up and running and, likely, to fund operations until you start turning a profit. Remember, this could take a year or longer to happen.

The exact amount you are going to need depends on what kind of business you are starting. If you’re starting a freelance writing business (which is what I did), you may not need any money beyond the cost of a laptop if you don’t already have one. But if you are starting a restaurant, you may need tens of thousands of dollars to pay for rent and to buy equipment like dishes and a stove to cook on.

You should create a business plan that details what your upfront and ongoing operating costs will be, including expenses like equipment, business insurance, employee salaries, and inventory. Make sure you have enough money saved to carry the business for at least six months to a year so you don’t have to close your doors right away if it takes time to get off the ground.

If you can keep your costs down without compromising on quality or service, it will be easier to amass enough money in savings. You can also look into getting investors to help you fund your initial costs if you’re confident you’ve got a good business idea. By getting others to invest, you will have to agree to share the profits, but you also share the risk, so it’s worth considering.

Whatever approach you take, just remember that the goal is for your business to improve your finances — so take calculated risks with your money and try to keep costs down so you can preserve your savings and give your business time to grow.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Cosigning a credit card could have a lasting effect on your finances. Here’s what you need to know before you agree to be a cosigner. 

Finding someone to cosign on a credit card enables a person to obtain a line of credit they wouldn’t qualify for on their own. It can be a great move for the primary account holder, but it carries some major risks for the cosigner. Here’s what you need to know if you’re thinking about cosigning a credit card for a friend or family member.

Why do some people need a cosigner?

Credit card companies are often hesitant to lend money if there’s a risk the person might fall behind on the payments. They use a person’s credit reports and scores to determine the likelihood of this happening.

Those with poor credit scores are considered to have a higher risk of default. And individuals with little to no credit history are often seen as risky too, because the lender doesn’t have any data it can use to gauge how they’ll handle borrowed money.

Individuals in these situations may not be able to open a credit card at all or, if they are able to, they’ll have a much higher interest rate. But adding a cosigner can help.

A cosigner is another person with an established credit history that agrees to take responsibility for the payments if the primary borrower is unable to keep up with them. With the cosigner’s stronger credit history, the credit card company may be willing to provide more favorable terms to the borrower than they could get on their own.

Factors to consider when cosigning for a card

As a cosigner, you’re agreeing to take over the payments if the primary borrower is unwilling or unable to make them. This won’t affect you at all if the person is diligent about making their payments on time. But if they make late payments or stop payments altogether, this will affect your credit as well.

The credit card remains on your credit report as long as you’re a cosigner on the account. And even one late payment could drop your score by tens or even hundreds of points. That, in turn, could affect your ability to borrow money in the future when you need it.

So cosigning a credit card isn’t something you want to do lightly. If you have any doubts about the borrower’s ability to keep up with the payments, it’s probably not a good idea.

Even if you believe there won’t be any problems, it’s still worth sitting down with the borrower to talk about how you’ll handle it if the borrower’s financial circumstances change. Be sure to keep an open line of communication for as long as the card is active. And be ready to step in and take over the payments right away if the borrower is unable to, so you can avoid late fees and negative marks on your credit reports.

Alternatives to cosigning

If cosigning doesn’t feel like a great fit for you, there are still other ways you can help your friend or family member build their credit over time until they’re able to obtain a new credit card on their own.

Some things you can try include:

Adding them as an authorized user to your credit card: Authorized users are able to use a credit card, but they’re not the primary account holder. A good payment history on the card can help authorized users build their credit history, and you can remove them at any time. But you’ll still have to set boundaries on what they can use the card for.Help them find a secured credit card: Secured credit cards are designed to help those with a poor credit history or no credit history to demonstrate that they can pay back borrowed money in a timely fashion. These cards are usually available to individuals with all types of credit, though they often require a security deposit and may have other fees.Look into credit builder loans: Credit builder loans are available through some banks and are another way to build a good credit history. You could help your friend or family member find and obtain one of these so they can improve their credit on their own.

Cosigning for a credit card might seem like the simplest option in the short term, but you have to consider the long-term consequences it could have on your finances when deciding whether it’s right for you. If it’s not a good fit, don’t feel bad about saying no. Explain your reasons and offer to help your friend or family member in other ways until they establish a decent credit history themselves.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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