An Empirical Study of the Psychological Aspects of the Status of Financial Inclusion of Transgender People in Patna

Abstract

The transgender community suffers a great deal from the psychological effects of financial marginalisation. An ongoing sense of uncertainty, worry, and tension can result from the ongoing fight to get resources and economic prospects. Discrimination in the workplace frequently leads to economic instability, which feeds into a cycle of financial stress, especially when combined with limited career prospects. Financial limitations that prevent the availability of gender-affirming treatments may exacerbate gender dysphoria and negatively affect mental health and self-esteem. Moreover, transgender people may experience prejudice in society that prevents them from accessing healthcare, housing, and education, which makes financial deprivation worsen feelings of loneliness and marginalisation. The psychological consequences of adjusting to a society that often bars individuals from financial involvement can include low self-esteem, despair, and strained relationships with others. In addition to being economically necessary, addressing financial exclusion is an essential first step in promoting the resilience and mental health of the transgender population. In order to empower this community economically and remove institutional obstacles, it is necessary to create specific measures to direct transgender individuals towards the financial inclusion process. Educational programmes that provide transgender people with financial literacy skills so they can make wise decisions about investing, saving, and budgeting should be included in the initiatives. Outreach initiatives should concentrate on raising knowledge of the financial services and resources that are accessible, as well as those that are especially designed to meet the requirements of the transgender community. It is essential to work in tandem with financial institutions to provide inclusive policies and services, like gender-neutral alternatives and staff sensitivity training.