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How to Manage Finances as a Veteran and Be Financially Free

As a veteran, you can get access to various resources that can help you manage finances and gain stability. If you are wondering how you can do so, this article is all you need.
How to Manage Finances as a Veteran and Be Financially Free
We owe our freedom to the veterans who sacrificed so much just so the rest of us can live financially free. For that, we are eternally grateful. Now we have something to give back to you.
In this article

After serving the nation, when you finally want to start a different life as a veteran, it can be quite challenging to manage your finances. You may also need to shift your family to a new state that can multifold your complications related to finance.

There is a good thing here. As a veteran, you can get access to various resources that can help you manage finances and gain stability. If you are wondering how you can do so, this article is all you need.

Pursuing Education 

After leaving the military, if you want to pursue higher studies you can do so with the GI Bill. There are various programs that can suit your preferences and you can achieve your dream of further studies with this option.

From 2015, veterans only need to pay in-state prices for pursuing education which earlier used to be out-of-state prices. Veterans had to pay higher amounts to pursue education if they were unable to prove residency which is not the case now.

Buying a House 

You can get a veteran home loan if you want to settle down and buy a house. Most veterans are eligible to apply for this loan but it can depend on the years that you have served the nation. 

One of the best things about this loan is that you do not need to pay any down payment. Even if you are a low-income veteran, you can get assistance from the Housing and Urban Development and Veteran Affairs Supportive Housing (HUD-VASH).

They have three programs namely Section 8 Project-Based Rental Assistance, Public Housing and Housing Choice Vouchers. There are also many non-profit organizations that help veterans pay for their rent and mortgages if they are financially weak

Getting Medical Assistance

As a veteran, you are qualified for VA Healthcare. It is very helpful for low-income veterans and veterans having any disability. All you have to do is get in touch with a local veteran service officer.

By assessing the years you served the country, your income, and — in case you are disabled or injured — your health condition, you would be offered assistance. 

Most veterans get medical services at a very lower cost or for free. In case you have not enrolled yourself in this Healthcare facility, you can get medical assistance under the Affordable Care Act too.

Conclusion 

Here’s how to save for your golden years with retirement planning. The resources are everywhere. All we have to do is look for them. You have done a great sacrifice by leaving your family and serving the nation so you deserve the best. It is highly advisable that you research well for what you can get at affordable rates and live a joyous life as a veteran.

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Author

Picture of Devanshee Dave

Devanshee Dave

With over 4 years of experience in financial writing and a master’s degree in mass communication & journalism, Devanshee is currently preparing for her CFA (Chartered Financial Analyst) exams. In her spare time, she likes to dance and learn about cosmology, astronomy and anything that can expand her knowledge from the big bang to the big crunch.

Editor

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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