Session Three
Financial Health
4. Financial well-being
Financial issues rank among the most stressful lifestyle concerns for veterans and their families.
Military veterans who report having relatively minor financial problems, such as bouncing a check or going over their credit limit, are four times more likely to become homeless within the next year than veterans without such problems
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17% of veterans report it took them take over a year to find a job.
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49% have less than $5,000 in savings
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55% of military spouses identify as “underemployed”
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51% of employed military spouses earned less than $20,000 in 2016
We will talk about financial education and managing money, finding employment and related resources available to veterans.
- All sessions are free and all are welcome -
Featured Videos
Veterans - Financial Health
Veterans - Financial Health
VA Benefits News (VBN) - May 2021: Michael Frueh, Principal Deputy Under Secretary for Benefits
VA Benefits News (VBN) - July 2021: Ronald Burke, Deputy Under Secretary for Policy and Oversight
VA Benefits News (VBN) – October 2021: Dr. Aaron Lee, Executive Director, Human Capital Services
If you're a Veteran in crisis or concerned about one, connect with our caring, qualified Veterans Crisis Line responders for confidential help. Many of them are Veterans themselves. This service is private, free, and available 24/7.
VA Financial Resources
1. Operation Family Fund
This private nonprofit provides short and long-term emergency financial assistance for disabled veterans who were injured while serving in Operation Enduring and Iraqi Freedom. Funds can be used for medical and living expenses, among other needs.
2. Coalition to Salute America’s Heroes
Founded in 2004, this nonprofit provides financial assistance for veterans disabled in duty during Operation Enduring Freedom, Operation Iraqi Freedom, and Operation New Dawn. Veterans assistance (VA) coverage includes paying utility bills, car, rent, and mortgage payments, and other living expenses such as food and transportation costs.
3. The American Legion Temporary Financial Assistance (TFA)
The American Legion’s TFA program supports minor children of veterans who are American Legion members or an active duty service member. By awarding cash grants to families to help with the cost of food, utilities, shelter, and health expenses, they hope to keep children in a stable home life.
Financial aid for veterans wounded in active duty
For veterans who sustained injuries while serving, these veterans assistance programs offer ways to help them find healing without going into debt.
4. The National Association of American Veterans, Inc. (NAAV)
This organization’s Military Family Program is geared toward helping the caregivers of veterans. The veterans assistance program provides emotional and financial support to families with children so they can help their veterans recover.
5. USACares
The Military Assistance Response program through USACares provides assistance for veterans bills due to a military service incident. The goal is to create long-term stability by improving quality of life.
6. Veterans of Foreign Wars (VFW)
The VFW helps military families through its Unmet Needs program. Families that are experiencing financial difficulties can receive grants of up to $1,500 to help pay for basic living expenses.
7. Operation First Response
Operation First Response offers a Military Family Assistance Program that lends wounded veterans financial assistance as they go through the VA claim process. The funds help veterans cover basic needs such as clothing, rent, groceries, car payments, and more.
8. Semper Fi & America’s Fund
The Fund is committed to providing veteran financial assistance and support to wounded, ill, and injured members of all branches of the U.S. Armed Forces. Their Family Support Program offers financial help with housing, transportation, bedside support, and caregiver support just to name a few.
Veteran financial assistance programs for female veterans
Female veterans currently make up about 11% of the veteran population, according to Pew Research Center. But that number is supposed to increase to 18% by 2046. While the above programs cater to both men and women, the following programs specifically help female veterans.
9. Combat Female Veterans (CFVs)
This nonprofit provides financial assistance for female veterans through education and advocacy initiatives. Female combat veterans who are transitioning back to civilian life can find help with basic living expenses through the organization’s emergency relief fund.
10. Dixon Center
The Dixon Center offers one-time grants to female veterans and their families who are experiencing financial hardship. The grants for veterans can be used to cover the cost of everything from gas, to work training, to housing costs, and more.
11. eMentor
This online mentorship program for veterans and other military personnel have helped over 6,700 women who are trying to navigate the civilian workforce. Mentors help find job resources for veterans to help them form and achieve career goals.
Organizations that help homeless veterans
Veterans currently make up about one-third of the adult homeless population, according to We Honor Veterans. If you’re a homeless veteran looking for help, check out these organizations that help veterans pay bills and more.
12. Veterans Inc.
The housing program through Veterans Inc. aims to put a stop to chronic homelessness among veterans. It assists veterans in finding local housing, going through employment training, getting legal and medical advice, and more. An application for housing can be quickly and easily done through their website, or you can email them for details.
13. Adjoin for Veterans
This organization understands that every veteran deserves to have a home. Veterans work with a coordinator to find housing options. Temporary financial assistance is provided. Additionally, prevention services are offered to homeless veterans. It is important to note that they serve veteran families in San Diego and Imperial Valley counties.
14. U.S. Department of Housing and Urban Development (HUD-VASH)
The HUD-VASH program helps veterans across the country find permanent housing through a combination of HUD housing vouchers and veterans affairs services. The partnership between HUD and VA has resulted in permanent housing for over 80,000 former homeless veterans. Call the HUD National Call Center to see which benefits you may be eligible for.
15. Modest Needs Foundation
This nonprofit recognizes the challenges that veterans may face after returning to civilian life. Their Homecoming Heroes Grant can either help with rental assistance for veterans or be used to cover a one-time emergency expense. The goal of this grant is to prevent veterans from entering poverty as they come back home from deployment.
Need more veteran bill pay assistance? Crowdfunding can fill in the gaps
The US government and nonprofits have long sought to grant emergency financial help for veterans who have bravely fought for our country. But sometimes that assistance can skip over what many need to get back on their feet.
To offset expenses not covered by these programs, many have turned to crowdfunding. Through online fundraising platforms like GoFundMe, veterans can raise money for what they need most. This can be for a range of things such as access to a service dog, counseling, treatment for addiction or mental health, or general medical expenses. Allies of veterans can also start fundraisers on their behalf to provide financial help for veterans.