Helping Military & Veterans
Why Military & Veterans?
Like most Americans, many service members do not receive comprehensive personal financial education in school. Compounding this, active members and veterans of the armed services often face substantial and unique financial challenges.
- Many face long deployments where housing, food and other necessities are taken care of, then return to navigate their financial circumstances on their own.
- Many have modest incomes and few assets, and would not be able to access quality, objective financial advice on their own. Help that may be available on military bases can be overwhelmed by demand, while predatory lenders often set up shop outside bases hoping to lure the unwary.
- Those who are wounded in service may face a maze of benefit applications and key financial decisions at a time of severe stress and turmoil.
- Young people leaving the armed services can face a daunting job market where their skills may not be perceived as relevant, leaving them unemployed or underemployed and financially at-risk as they attempt to adjust to civilian life.
University of Wisconsin-Whitewater’s project, Financial Front: One-on-One Financial Planning for Veteran Students, provides financial literacy training and one-on-one financial planning for student veterans at UW-Whitewater, potential veteran students, and area veterans.
AFCPE’s Military Transition Financial Wellness Program (MTFWP) provides education and advice from financial planners, counselors, and coaches to improve the financial well-being of service members and their spouses transitioning from active duty. FFP is proud to support this program, which seeks to build a unique and replicable, integrated financial planning and coaching model for military communities.
In partnership with Building Homes for Heroes (BHH) and with support from FFP, the NCEF-NAPFA Consumer Education Foundation provides pro bono financial planning services to wounded veterans of the Afghanistan and Iraq conflicts, through which NCEF volunteer planners are matched with a veteran for at least a 2-year period.
FFP is proud to the Smart With Your Money Financial Planning Clinics out of the San Diego Financial Literacy Center, which connect low-income and under-served populations—many of them active military or veterans—with pro bono financial professionals to assist them on their path to financial well-being and self-sufficiency.