Interview with the Military Finance Network

• What encouraged you to start the Military Finance Network?

When I was in the military I noticed that many troops, especially the younger troops, didn’t have much money management experience. On top of that, the military has dozens of special programs and benefits, which many troops didn’t know about. Personal finance and money management have always been hobbies of mine, but it actually wasn’t until I left the military and became a civilian again that I started a personal finance website, and I knew I wanted to reach out to military members. My first site was actually Cash Money Life, and the tagline was: “personal finance with a salute to the military.” After several months I realized most CML readers weren’t interested in the military aspect of the blog, so I separated the content and created Military Finance Network.

• Do you find it difficult to try to cover financial information involving veterans and the military?

Many personal finance and money management principles are the same for everyone – practice responsible money management, avoid debt, etc. But it can be difficult keeping up with each benefits program for military members and veterans. As I mentioned earlier, there are dozens of special programs and benefits affecting current military members, retirees, and veterans. These programs are constantly changing and eligibility varies based on many factors. Many states also offer their own benefits, which vary broadly. I am currently a one man show, so I prefer to focus on highlighting general personal finance topics that will benefit people of all walks of life, including veterans and civilians, and some of the major benefits or programs available to many veterans, such as the GI Bill, VA Loans, etc. The goal in the coming year is to add more writers to generate more content and reach more military members and veterans. Part of this push will focus on more articles about benefits programs.

• What is your favorite financial topic to blog about?

My favorite topic is responsible money management. I’m a big believer in maximizing what we are given, so that means making frugal choices, staying out of debt, investing for retirement, and leaving enough room in the budget that we don’t have to stress before the next paycheck arrives. Many military members do not make a lot of money, nor do many of them have the opportunity to bring in extra income while they are serving, through taking a part time job, running a business, etc. So responsible money management is of paramount importance.

• Do you find that life experiences influence the content of your blogs?

I write more often about life experiences in my other blog, Cash Money Life. The life experiences I have drawn on most recently include the recent birth of our first child, career topics, and issues with running my small business. Some of the life experiences I have mentioned on Military Finance Network deal with topics such as a Permanent Change of Station move (reassignment to another base), military benefits eligibility, responsible money management, and similar topics.

• Where do you get the ideas for your blogs?

The content of my blogs is a mixture of real life experiences, general information, and current events. I wouldn’t want to write about my daily life every day because that would get boring quickly and I would soon run out of content for MFN as I am no longer in the military. So I add informative articles and commentary on current events, new benefits programs, and more.

• What is some financial advice you could offer our readers who are/have been in the military?

Keep accurate records of your military service (DDForm 214 is one of your most valuable military documents). There are dozens of benefits programs out there that you may be eligible for, and your military records can often be the key that opens the door. If you are still in the military, then research the current benefits programs available to you and take advantage of them while you can. Pay close attention to your out-processing briefings if you are going to separate from the military soon and take good notes about the programs you may be eligible for. Be sure to set up a meeting with the VA before you separate so you can get a head start on your paperwork (especially military disability benefits as there is a backlog in claims processing). If you are a veteran or retiree, contact your local VA to see if there are any benefits or programs you may be eligible for. Be sure to also investigate state and local military service organizations, as there may be other local benefits available to you.

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