Managing your money after active duty.
Veteran Saves Week, taking place November 12-15, 2024, aims to unite and elevate a global conversation that encourages transitioning service members, veterans, caregivers, and their families to take control of their financial future. Each day has a theme that touches on four important areas of financial readiness.
In this article, we’ll explore financial planning for veterans through each of these themes and provide some tips including savings strategies and much more.
Choosing the right financial institution
When it comes to financial planning for veterans, it’s so important to find the right bank or credit union that fits your needs. If you’re looking for an institution that has your back throughout each life milestone, fosters your financial literacy, and has a strong community-based mission, consider becoming a member of Clearview! At Clearview, we believe that by providing you with the right resources and support, we can help you take advantage of all of life’s opportunities.
We also want to reward you for joining our family! New members can make the switch and earn up to $500 with a new checking account using promo code switch.
Savings strategies for competing priorities
Whether you’re saving for a rainy day, paying down debt, or planning for retirement, finding a way to save for competing priorities while also juggling daily living expenses can be overwhelming. Breaking your saving goals down into smaller, more manageable milestones can help make things feel less daunting.
Here are some simple savings strategies you can start implementing today that can lead to big impacts!
All about housing
One of the most difficult aspects of financial planning for veterans includes the challenges of finding affordable housing. Everyone deserves a safe, affordable space to call home. Whether you’re looking to become a first-time homeowner or you’re looking to rent, being prepared and knowledgeable about how these housing options will impact your wallet are essential to your financial success.
If you’re looking to buy, make sure to review our Guide to Mortgages and discover how much you can afford, what type of loan might suit your situation, how much to save for a down payment, and more!
Navigating military to civilian employment financial transition
Transitioning from military to civilian life can be difficult to navigate, especially when it comes to the next steps in your career. The GI Bill benefits are an important part of financial planning for veterans as they help qualifying vets and their family members get money to cover all or some of the costs for school or training. This article from the U.S. Department of Veteran Affairs provides more details about these benefits and how you can take advantage of them.
Financial planning for veterans can certainly feel overwhelming, but help is out there! From savings strategies to financial guides to the assistance of your friendly neighborhood credit union, managing your money post-service has plenty of resources to help make things easier and less confusing for you and your family.