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Business and Personal Money Matters for Vets

For some people, one of the most difficult transitions to make from military life to civilian life involves finances. The various money matters that seem to plague some upwardly mobile citizens are not even on the radar for long-term members of the military who have adjusted to life in the service.

Not having to worry about paying rent and electricity bills can be nice, but there comes a time in many people’s lives when they have to assume responsibility for money matters that were formerly handled by someone else. It can affect both the home and one’s business if, in fact, one leaves the military and starts a business. There can be a lot to learn, and not a lot of time to do it.

For home budgeting know-how, local banks and credit counseling agencies can help quite a bit. One does not have to be in danger of going bankrupt just to get some good financial management information, which is also available online with a few simple searches. It is definitely a benefit to the community and the local business economy to have well-managed, solvent households, so the business community is historically quite generous in offering this assistance.

Veterans and retired military who are going in to new businesses receive special attention, as well, starting with the Office of Veterans Business Development (OVBD). In addition to this help, the OVBD coordinates support and outreach for entrepreneurs, as does the Center for Veterans Enterprise. Both programs help vets find programs in their communities that will help start-up firms with financing, procurement, training and business development.

For both home and business, money matters are fundamentally important. Nothing secure or self-sustaining can be built on a faulty foundation, so learning the basics of money management, budgeting and investing is essential for success in both settings. The fact is money matters are also important to relationships, marriages and one’s own self-worth. Clearly, an investment of time and energy is needed in order to learn about investing dollars and cents because, simply put, money matters!

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