Toolbox

The Department of Veterans Affairs (VA) offers assistance to U.S. military veterans who want to translate their military skills, experience and training into career options that best suit their capabilities. To get started, log onto https://mst.vaforvets.va.gov/mst/va/ and define your military experience by adding your Military Job Title (for example, your MOS, MOSC, Rating, Designator). Once this information is selected, you can add your subspecialties and training to further customize the job postings available to you. From CareerOneStop, a pathway to career success sponsored by the U.S.; Department of Labor, here are some specialty programs to help connect veterans to specific industries: * Troops to Teachers (https://www.proudtoserveagain.com/) is a U.S. Department of Defense program that helps current and former military personnel begin new careers as teachers in public schools. TTT helps participants identify certification requirements, programs leading to certification, and job opportunities. * Helmets to Hardhats (https://www.helmetstohardhats.org/military-service-members) is a national, nonprofit program that connects National Guard, Reserve, retired and transitioning active-duty military service members with skilled training and quality career opportunities in the construction industry. Most career opportunities offered by the program are connected to federally approved apprenticeship training programs. * Military to Mariners (https://www.marad.dot.gov/mariners_landing_page/veterans/Veterans-Military-to-Mariners.htm) helps connect veterans to careers in the U.S. Merchant Marine. The program, through the U.S. Department of Transportation’s Maritime Administration, provides information about the Merchant Marines as well as how to apply for certificates and licenses using Navy or Coast Guard experience. * Veterans in Piping (https://www.uavip.org/veterans) offers high-quality skills training and jobs in the pipe trades to U.S. veterans and active duty military personnel preparing to leave the service. VIP is a program of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States, Canada, and Australia.  LEARN MORE For more information from CareerOneStop on translating your military skills, visit:...

Saving for a “rainy day” or emergency fund can help protect you from having to use high-cost credit when you hit a rough patch. Getting started is the first and most important step, and fortunately, there are resources available to military members — at no charge – to help you start down the road to financial freedom. So, why not begin now? Here are three programs listed by the Consumer Finance Protection Bureau: Begin with the Personal Financial Management Program Start on your installation by talking with the PFMP office located in military and family support centers. These offices are present on all Department of Defense military installations. Find location and contact information for yours by going online and choosing “Personal Financial Management Services” under program/service. National Guard and Reserve personnel not located near a military installation can access information and personalized financial counseling assistance through “Military OneSource” by calling 1-800-342-9647 or visiting it online at https://www.militaryonesource.mil/. Earn 10% interest with the Savings Deposit Program Military personnel have the opportunity to earn 10% interest on up to $10,000 in savings annually while deployed to or in support of a combat zone. Uniformed members of the Armed Forces can contribute to the Savings Deposit Program, which is administered by the Defense Finance and Accounting Service, after 30 consecutive days of deployment outside the U.S., for as long as you are receiving hostile fire pay. Any military finance office in your area of deployment can help you establish an account and set up the deposit method most convenient for you. Retire/Invest with the Federal Thrift Savings Program The Thrift Savings Plan (https://www.tsp.gov/index.shtml) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. By contributing as little as $20 per payday, your savings could really stack up.   LEARN MORE: This content was developed using advice from the Consumer Finance Protection Bureau. For further information, visit the U.S. government agency’s website at https://www.consumerfinance.gov/servicemembers/planning/...

The U.S. Navy has some useful — and creative! – advice for military personnel and their families who ask: Where am I going to find extra money to put away? Listed below are a few of the Navy’s tips, which may help you in your effort to build a substantial nest egg. When payday comes around, always pay your savings account first as though it were a regular bill. Direct deposit is probably the easiest way to do this. Remember, the amount you deposit is not as important as depositing something on a regular basis. So set it – and forget it! Save all of your change in a jar. Pick a designated date and take it to the bank to deposit into savings. Scrimp one month out of the year. Let your imagination go wild on how you can save as much as possible for one month. Knowing that this episode of frugality will end in 30 days may help add to your motivation. Give up one trip to a fast food restaurant per week and make a sack lunch to eat instead. Put the money you saved into your account! Make some family savings goals together (save for vacation, a dinner out, or a trip to an amusement park). Show the children your written family budget. Add up the numbers so they can see where the money is being allocated. Try to get a family consensus on which expenses can be cut back, and task each person with a money savings responsibility. Make a game out of cutting costs and saving. Offer special rewards to your kids if they meet their own savings goals (saved enough money for a toy, a trip to the movies, clothes, bike, or a first car). LEARN MORE: This content was developed using money-saving tips from the U.S. Navy Personal Financial Management Program that were posted by the Consumer Financial Protection Bureau on the CFPB’s website. For more tips and information, visit: https://www.consumerfinance.gov/servicemembers/planning/creativesavingsstrategies, or...

The holiday season can bring both joy and stress to military families, not only emotionally but financially. Gifts and get-togethers are great, but expenses can run high! For service members and their families who seek financial assistance, here are some examples of resources that may be available nationally, or in your local community: USO – Ask your local USO about its holiday programs. Some offer free meals, entertainment, and toys to military families. https://www.uso.org/locations Toys for Tots – Since 1947 the U.S. Marine Corps Reserve program has distributed nearly half a billion toys as Christmas gifts to children in the communities it serves. This program is open to all children, including military kids. Families can select their state from the “Request a Toy” tab to learn about how to sign up. https://www.toysfortots.org/request_toys/Default.aspx Veterans’ Service Organizations – Many Veterans’ Service Organizations (VFW, American Legion, etc.) provide holiday support to service members, veterans, and their families. Programs vary, but may include holiday meals, food pantries, gift card distribution, and fellowship. Check out BBB Wise giving Alliance at www.give.org for information about charities supporting members of the military and veteran communities. Installation Support – Holiday support at local installations also varies, but may include food baskets, holiday meals, toy donation, fellowship, or entertainment. Contact the family center at your nearest installation and ask about the support provided this year. Local Nonprofits – The scope of support varies greatly. Nonprofits may be regional, national, or only provide support to military families within a certain county. Operation Homefront is an example of a national nonprofit that provides regional support. In some areas it offers holiday meals, holiday parties, and toy drives for military families. Contact your family support center for a list of nonprofits providing support to military families in your area. Military Discounts – Also keep in mind that discounts are offered by numerous stores, services and online sites – and not just during the holidays! – withnames spanning from A (Apple, Applebees, Armed Forces Eyewear, etc.) to Z (Zales Diamond Store). For a comprehensive list, visit https://militarybenefits.info/military-discounts/.   LEARN MORE: Information for this article came from The National Military Family Association, a private, non-profit group; and MilitaryBenefits, a non-government, privately funded website....

Saving money is every shopper’s dream – and it’s essential if you’re operating on a tight budget. While you probably receive e-mails, texts, tweets and circulars touting great sales daily, it’s also good to keep in mind that deep discounts for some items still go by the calendar, which can help you to plan ahead. Here’s a list compiled by Consumer Reports for getting the best deals on goods, month by month: January – Bedding, linens, toys, treadmills and ellipticals, TVs, winter clothing February – Humidifiers, indoor furniture, treadmills and ellipticals March – Digital cameras, humidifiers, small consumer electronics (MP3 players, DVD and Blu-Ray players, etc), TVs, winter sports gear April – Laptop and desktop computers, digital cameras, lawn mowers, spring clothing May – Athletic apparel and shoes, camping and outdoor gear, carpeting, cordless phones, lawn mowers, mattresses, small consumer electronics June – Camcorders; carpeting; computers; indoor furniture; pots, pans, and dishware; small consumer electronics; summer sports gear, swimwear July – Camcorders, indoor and outdoor furniture, swimwear August – Air conditioners, backpacks, dehumidifiers, outdoor furniture, snow blowers September – Bikes; digital cameras; gas grills; lawn mowers; shrubs, trees, and perennials; small consumer electronics; snow blowers October – Bikes, computers, digital cameras, gas grills, lawn mowers, winter coats November – Baby products, bikes, camcorders, gas grills, GPS navigators, toys, TVs December – Bikes, camcorders, gas grills, GPS navigators, large and small home appliances, small consumer electronics, toys Learn More: This content was developed using advice from the experts at Consumer Reports. You can get more information on these tips and explore a variety of savings opportunities at...

If you or your child is active or retired military – you, and they, have a lot more banking options available to you both. These organizations have credit specific products made for children and young adults – in the military or not. Here are three options: USAA USAA is a financial services group open to activity duty military and veterans, their children and their grandchildren (providing the parent or grandparent is or was a member). They offer the gamut of services most banks and credit unions consider staples, such as mortgages, car loans, checking and savings accounts.  They also sell insurance. For young adults who are just beginning their financial lives, USAA has products for younger children, too, including Youth Savings and Youth Spending accounts that have no monthly fee. You can find details on USAA services like mortgages, car loans and other financial services. Armed Forces Bank While the Armed Forces Bank doesn’t have products made specifically for kids, they do have a product called the Recruit Checking Account, which comes with a checking account that does not have a minimum balance requirement, debit card, free online banking, free online bill pay, and free e-statements and e-alerts. They also offer business banking, IRAs, money market accounts, mortgages and loans. Their branches are associated with military bases in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Missouri, Nevada, New Jersey, North Dakota, Texas, Texas, Virginia, Washington and Wyoming – some branches are on base, and some are within local Wal-Marts. Find a complete list of Armed Forces Bank branches here. Navy Federal Credit Union The name of this credit union might say “Navy,” but membership is open to all active and retired military plus family members. You must be 18 to join, but parents can open a Visa Buxx card, which is a pre-paid debit card, for their kids through the credit union. For children in college, the Navy Federal Credit Union offer Campus Checking, which has no monthly service fee and ATM fee rebates. They also have the nRewards secured credit card if your child would like to start building credit safely. If you’re still in the planning stages, they also have a channel for college planning,...