Life After Service

richard battista

Returning to civilian life after military service can be difficult for many. The drastic shift in pace and setting oftentimes adds stress to an already strained mind, let alone the stresses placed on the families of veterans. However, not all are blind to the plight of our servicemen and women. The Consumer Financial Protection Bureau is rolling out a program that, if successful, can help thousands of veterans and their families stay on their feet.

Gathering financial coaches and professionals from all over the country, the CFPB hopes to educate 250,000 service members in the ways of managing their finances. Transitioning back into civilian life carries its own set of difficulties, chief among them is adapting to a drastic change in income. Finding new work stateside, coupled with regular relocation, makes it difficult to create a healthy financial routine. The professionals brought on by CFPB are hoping to illustrate simple ways to maintain rock-solid financing, and return an element of security that some soldiers may be missing.

Provided free of charge, CFPB’s coaches will give one-on-one advice to thousands of willing participants. Several other companies have also sprung up in the wake of this pressing issue. The U.S. Soldiers Foundation is designed to help soldiers purchase a home when they return to the states, or USA Cares and their mission to preventing soldiers with homes from losing them to foreclosure are but a small cross-section of programs for our veterans.

Though their road is difficult, those with military experience have displayed an interesting command of their finances when it comes to budgeting. A survey conducted over a recently released servicemen and women showed unanimously higher credit scores, balanced budgets and future-proof financial planning; The discipline instilled by their strict military training allowing for focused control of their finances.

 

About Richard Battista