Posted on Jun 21, 2014
SSG Rene Castro
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Example: Home purchase, military benefits, etc etc.
Posted in these groups: Leadership StudiesFinance Finance
Edited >1 y ago
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Lt Col Instructor Navigator
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I definitely could have done with one before I bought my first home.
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CWO4 Deputy, Launcher Branch
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Edited >1 y ago
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SSG Rene Castro
SSG Rene Castro
>1 y
This is the reason I ask. I run a non-profit called VAREP we are dedicated to the education and financial literacy of our Active Military and Veterans. We were in DC last week visiting our congressmen and talked to them about creating a financial plan for active duty servicemen. The reason for that is, from my experience I was talked about finance twice during my career. Once was at basic training where I was told go get a bank account because that is how I was going to get paid and two was pay your bills or you are going to see the company commander if you don't. This creates a "earn & burn" mind set where we spend because we know we will get paid on the 15th anyway. In the meantime we start racking up credit cards which include the Star card, Car payments and other debts that fit our current income. As that time to ETS rolls around the only card that is mandatory to pay off is that Star card and believe me they take that out of your check before you go. You get out into the real world and find out getting a job that was remotely close to what you were getting paid is not that easy. All this leaves you financially strapped, leading to depression, homelessness and sadly for many of our brothers suicide. I asked my initial question so I can see how many people felt it was an important issue.
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