On this Veterans Day 2008, our thoughts and prayers go out not just to those who previously served, but to all military personnel still in harm's way.
According to a survey from the Defense Manpower Data Center and reported by Military.com,
More distressing, the Defense Department says that military members use payday loans three times as
often as civilians.
That's not necessary, says the DoD.
Army Emergency Relief has started a new program that soldiers can use in place of private lenders, said Lynn Olavarria, manager of the financial readiness program on Fort Bragg, N.C.
"Under the Commanders’ Referral Plan, a soldier can receive interest-free loans of up to $1,000 twice per year with a commander’s referral," said Olavarria.
In fact, all four services have relief societies represented at most bases that give interest-free loans and, occasionally, grants.
Estalishing a Financial Future After the Military offers some tips for service men and women on handling finances responsibly. All of us civilians need to check them out, too, since they include basic steps such as budgeting, watching your credit and establishing a savings plan.
A strong military is critical to our country. So are financially able men and women in uniform.