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HVAF is partnering with Simons Bitzer & Associates to provide free financial literacy and skill-building classes. In March, more than 20 veterans learned the basics of budgeting from maintaining a check book to retirement planning.
“We were excited to meet them and present financial education on many issues including ways to avoid financial scams as well as to balance a checkbook,” says Lisa Rollings of Simons Bitzer & Associates.
Research shows that veterans are more likely to end up homeless not just because of stress related to their military service but also because of poor financial skills. A new report in the American Journal of Public Health found that military members in general are less familiar with household budgets, more likely to be targets for predatory lenders and “may not have the opportunity to learn the skills necessary for being financially independent and managing money.”
“The class was helpful in that it showed me ways to better keep a budget by using an Excel sheet and keep track of what’s coming in and what’s going out,” says Roy E., 55, an Army veteran.
Rollings says her company’s goal is to hold regular financial education classes at HVAF and keep them engaging and relevant so that those who leave our transitional housing are armed with the tools they need.