The military lifestyle is filled with transition. The typical military family moves every 2.5 years; a military family will navigate a deployment at least once during their career; and at the end of their service there is the transition to civilian life. With the great resignation, even more transitions may occur as spouses or veterans look for new opportunities. While military families may be unsure of their next mission, they can feel confident in their financial grounding.
With each transition impacting a military family’s financial situation, financial readiness is as critical as mission readiness. Fortunately, there are many free resources available to support active service members, veterans, and their families on your base and in the community.
Free Financial Coaching
The Association for Financial Counseling & Planning Education® (AFCPE®) has free military resources to meet the needs of families. The free virtual financial coaching provides financial guidance to military families’ unique situations, helps them find local resources for food, clothing, shelter, and other basic needs, and offers advice to create a household budget after a change in employment.
- Active members can learn more and sign up here
- Veterans, please visit their website to learn more and sign up
The Department of Defense also provides a variety of financial counseling options to all active-duty, National Guard and reserve service members, survivors, designated Department of Defense expeditionary civilians, and their families – at no cost! Financial counseling is available both CONUS (Continental United States) and OCONUS (Outside the Continental United States). To learn more about services and how to find a financial professional, visit The Department of Defense Office of Financial Readiness website.
Military Saves
Military Saves, an initiative of the component of America Saves, and a participant in the Department of Defense Financial Readiness Network America Saves program seeks to motivate, support, and encourage the entire military community to save money, reduce debt, and build wealth. Take the Military Saves Pledge and create a simple savings plan that works. Through short email and text reminders, resources, and tips to keep you on track, you will be able to improve your financial life – and connect with an entire community of military savers!
Accredited Financial Counselor® certification
The FINRA Foundation Military Spouse Fellowship provides military spouses the opportunity to earn the Accredited Financial Counselor® (AFC®) certification – while providing financial counseling and education to the military community. This is a great option for spouses looking for remote work opportunities and to give back to the military community through education. It is free to apply and the FINRA Foundation covers the costs associated with completing the AFC® certification. Applications open now through May 2.
Whether you are an active member, spouse, veteran, or considering a significant change in your life, know that you are not alone in your financial journey – free resources are available.
This post was written by: Michele Godfrey, AFC®, The Association for Financial Counseling & Planning Education® (AFCPE®) Board President
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Military Money Matters 