Improving Veterans’ financial well-being and mental health

What part of your life causes you the most stress? For many people, the answer is “money.” And while financial stress is common, Veterans often face unique challenges to their financial well-being after leaving the military. 

In the military, service members have their basic needs met—food, clothing, housing, medical care, social activities and transportation. But once they transition to civilian life, many Veterans must figure out how to meet these needs on their own for the first time.

Financial well-being is tied to mental health

Research shows that financial uncertainty increases the risk of Veteran suicide and homelessness. To address this need, VA’s Office of Suicide Prevention launched FINVET, the National Veterans Financial Resource Center.

FINVET is a one-stop website where Veterans can find valuable tools to make managing their money easier.

Increasing access to financial resources

Occupational therapist Caitlin Bunch finds that financial instability is a common issue among Veterans she works with in the Homeless Programs at the Durham VA Medical Center.

“Finances are a concern for almost every Veteran I work with. Many are not aware of certain financial tools and resources specifically for Veterans,” said Bunch. “Through the FINVET website, I have been able to share valuable information to support Veterans’ financial literacy and well-being.”

FINVET expands its reach

Over the past year, the FINVET website has received more than 150,000 visits. Resources are regularly updated to keep everything current and high quality. The FINVET team has also started training VA staff members in a financial literacy curriculum to use with Veterans.

Bunch has offered this curriculum to Veterans in her program with good results: “Veterans have reported having money left over at the end of the month for the first time after completing this group.”

Visit FINVET, the National Veterans Financial Resource Center, to explore these valuable resources.

Please note that FINVET does not provide direct financial help. The FINVET website offers trustworthy financial resources that can help Veterans meet their financial goals.