Due to a latest book by a past army analyst, veterans are told how they need to get on their feet financially in the resident world. The change from army to resident life tends to be fraught with emotional trials, but things that are more practical like searching for a place to live, getting a job and paying bills can also be just as challenging. The majority veterans entered the army at a young age and without receiving enough help about money management, which is why this article about money challenges for veterans discusses the challenges they face and how to overcome them.
Mechel Lashawn Glass and Money Challenges
At the time Mechel Lashawn Glass came back from her placement as an army intelligence expert, she moved back with her parents. She joined the military and left her home at the age of 17. When she returned, she was an adult without a job or a home. She said during that time they were given a two year changeover before leaving the service. This was so they could put a strategy in place and figure out what it is they want to do with their life and where they want to live. Now; however, with drawdown, veterans are given a 30-60 day notice in order to leave the military and begin a new life. When it comes to money challenges for veterans, there are behavioral, physical and emotional challenges as they have been overseas for such a long time that they don’t usually know where to start.
A Hard Return
In Glass’ case she lived with her parents for some time, but due to the emotional disturbance of her placement, she was left withdrawn and it was also tough to communicate with her. Due to this, her mother requested her to leave the house. She then started to overcome the money challenges for veterans and found an entry level job, using her military benefits for college. Today, Glass is a vice president.
Glass says there are four major money challenges for veterans:
Looking for civilian employment
The major problem here is linking military experience with that of private employment. In Glass’ case her resume wasn’t excellent, but her IBM included her military knowledge, which showed her work ethic and sense of discipline. For those in need of help should visit the Veterans Affairs Sector, where they will find a career center and programs helping them to find jobs. The Sector of Labor also has a program, which helps vets to work on their summaries, explaining how their experience and knowledge can benefit a private employer.
Managing credit card debt
Glass also mentioned those in deployment tend to face a stressful setting, which makes it a common situation for them to spend a lot of money during the time they are not on duty. Their day-to-day living expenditures and clothes do not need to be paid for, which means they just ‘blow’ the money. This is another one of the money challenges for veterans, as private employers can sometimes check applicant’s credit to ensure there are no large financial problems. In the military, credit checks are not usually required until you wish to apply for a job that requires a security clearance. The debt should be tackled at one balance at a time and any further help can always be obtained from a non-profit credit counseling service.
Dealing with house problems
Many participants of the army tend to buy a home near the location they are based, which they then sell in 2-3 years’ time, when they move. However, it is not as easy as this housing crisis left the majority of service personnel unable to sell their home and underwater. This issue causes a lot of veteran’s difficulty when maintaining their mortgage payments; however, one solution is refinancing with a VA home loan. When it comes to mortgage money challenges for veterans they should go to their lender and enquire about programs, which will help to keep their home. If for some reason this doesn’t work, the next place to go would be a non-profit counseling agency, which acts as an intermediate. The situation can then be worked through with a lender.
Signing up for benefits
Some of the money challenges for veterans can be hard to overcome as the majority of veterans don’t want to ask for help. When it’s the first time, coming out of deployment, paying for everything alone and finding employment quickly can be difficult. When it comes to where to start from, then the first place to start looking is VA Gov. Here, you will find a variety of benefits and programs that will help veterans to get on their feet.
Money challenges for veterans can be overcome and veterans do not have to face them alone. Assistance is available through military programs and the government, which can help to ease the pressure of coming back to civilian life.