Military Veterans Reflect on Money Matters

Military service can shape many aspects of financial life, from saving during deployment to using education benefits and preparing for a civilian career.

For BECU employee Bobby H., saving during deployment meant leaving Marine service with more than $20,000 set aside. For employees Robin G. and Dre H., education benefits helped open doors to civilian careers. Their stories show what saving and access to support can make possible, even as service members navigate financial challenges.

But Bobby wanted to save for big expenses, including college. During his second deployment to Okinawa, he began depositing a few hundred dollars from every paycheck into his savings account.

Once the money was out of sight, it was easier not to spend it.

“After a few months, I increased the amount I was putting in savings,” he said. “It was just easier not to buy that super cool-looking third backpack that I didn't need.”

To help prepare for planned and unexpected expenses, Dre H., a senior talent acquisition partner at BECU, suggests that service members and veterans save a little bit from every paycheck, either a flat amount or a percentage.

“If you put away $300, that's maybe three date nights with your spouse or Christmas gifts for the kids,” he said.

He qualified for Veteran Readiness and Employment toward the end of his military career. The VA paid for housing, tuition and more as he pursued a bachelor's degree in applied management.

“It really set me up for success,” he said.

Veteran Readiness and Employment provides employment, education and training assistance to eligible veterans and service members with service-connected disabilities. The VA evaluates applicants to determine eligibility and the services they may receive.

While in the program, Dre accepted a junior recruiter work-study role at the Federal Way Vet Center. He visited military bases, shared his own experiences seeking support and encouraged service members and veterans to connect with the center.

“I explained that I've been in their shoes, been lost, had difficulties, and didn't feel like I could get out of it,” Dre said. “I reassured them that they don't have to keep living this way, and that the centers offer an opportunity for change.”

After transitioning into the Army Reserve, Robin used GI Bill benefits to earn a college degree in computer science.

“Without those programs, I wouldn't have been able to afford school,” she said. “They didn't just help me financially, but gave me purpose and opened doors I never thought possible.”

As she moved into military leadership roles, Robin helped other soldiers understand their education benefits and complete the paperwork.

“I'd sit down with them, walk them through the paperwork, and share my own story,” she said. “Education is one of the most powerful tools a soldier can carry.”

Bobby also used GI Bill benefits to fund his education. Payment arrangements vary by program, making it important to understand which costs are covered and when payments arrive.

“Engage early with your intended university's veteran student services office,” Bobby recommended. “They educated me on qualifying for reduced tuition and ensured my GI Bill was approved before the initial school semester's start.”

Robin also pointed to Army COOL (Credentialing Opportunities On-Line), which helps users identify civilian licenses and certifications related to their Army experience. Funding may be available through separate assistance programs, each with its own eligibility requirements.

For eligible military spouses, the SpouseWorks Scholarship offers up to $4,000 toward a license, certification or associate degree, or continuing education needed to maintain a professional license or certification.

Debt and Financial Protections

Education benefits can help with college and career training, but service members still have everyday bills to cover. Dre said many live paycheck to paycheck, making unexpected expenses difficult to manage.

“Many service members are one emergency away from loans and massive debt, where you get stuck with high interest rates,” Dre said.

In a 2025 National Foundation for Credit Counseling survey, 19% of active-duty service member respondents reported having used a payday or cash-advance loan, compared with 9% of general-population respondents.

The Military Lending Act provides protections on certain credit products for eligible active-duty service members and covered dependents. The Servicemembers Civil Relief Act provides financial and legal protections for eligible service members, including interest rate limits on qualifying pre-service debts and certain protections involving leases, taxes and foreclosure.

In 2026, the U.S. Department of Justice announced settlements resolving allegations that companies violated the Servicemembers Civil Relief Act in handling vehicle leases and mortgage interest rate benefits. A 2026 Federal Trade Commission alert warned of scams targeting “military debt forgiveness” and encouraged service members to report them.

Finding Financial Support

Managing money after military service can take some getting used to. According to a 2025 National Foundation for Credit Counseling survey, around one in four veterans said it was “difficult to adjust to managing my money as a veteran as opposed to an active-duty service member.”

The VA's National Veterans Financial Resource Center, FINVET, connects veterans with tools and resources for budgeting, managing debt, increasing income and protecting their money. The site also links to organizations that may provide financial assistance to eligible veterans; FINVET does not provide money directly.

“There are many opportunities in educational and financial programs,” Dre said. “You can take a course on saving money or using VA loans.”

For Dre, the work-study role at the Federal Way Vet Center became an early step toward a recruiting career. He later worked at Microsoft before joining BECU as a senior talent acquisition partner, where helping people remains central to his work.

“BECU gives back to the community through people helping people, and my career has been about helping people,” he said.

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