By Lexie Dy
If you made the decision to join the armed forces at a young age, then adjusting to civilian life can be a struggle upon discharge. Spending your early adult years in the military does little to prepare you for the everyday financial challenges that ordinary people confront on a regular basis. However, the discipline and problem-solving skills that you likely acquired through your training can make a huge difference when adapting to your new lifestyle.
With a few financial tips in mind, you will be well-equipped to make a seamless adjustment as a young veteran. Here, Pivedite explains how.
Seeking further education in your career field of choice is the first step toward boosting your income potential. While it might entail enrolling in a college degree program, experts explain that earning a certificate can also give you a significant advantage in the job market. Even making the decision to practice new skills with a self-taught methodology can do wonders for your personal growth.
Keep in mind that most education options are available through online learning opportunities. Pursuing an online degree or enrolling in a virtual course means that you can learn from wherever you are and complete tasks on a schedule that works for you.
Whether you are searching for full-time, part-time, or freelance job openings, it is essential to know where to look. You can start by perusing job boards or seeking advice from other veterans in your network. You might also try attending career fairs in your local area.
There are also online resources that help connect veterans with companies that are proud to hire those who have served. Working in such an environment can lead to greater job satisfaction and an overall sense of appreciation for your contributions.
Depending on your circumstances, the best road to financial freedom might be to start a business of your very own. Veterans often have the leadership skills and quick decisiveness necessary for being an effective entrepreneur.
When considering which business structure is right for your budding enterprise, consider forming a limited liability company. LLCs offer some protection against litigation and also entail less paperwork overall. Be sure to check regulations in your state about how to establish an LLC and research online formation services so you can avoid hefty lawyer fees.
Whether you are struggling to make ends meet or thriving in your new career, a realistic budget is important for the sake of your continued well-being. Try to build a sustainable budget that you can maintain for months or even years. You should also plan ahead for how you can adjust your budget if your financial situation changes for better or worse.
The key to making an actionable budget is listing your fixed expenses and making sure you can always pay them without incurring debt. From there, come up with an amount you can put toward savings and recreation each month and commit to not breaking the terms you set for yourself.
Coming back home can come with a lot of expenses and uncertainties, including housing. There are home buying assistance programs for veterans, but you don’t have to take advantage of those programs right away.
If you aren’t sure where you will live yet, look into apartments in your area. This research will help you to create a realistic budget as you look for housing and address other expenses.
Once you get settled, you will get a chance to arrange your place and decorate the way you want. If you served for many years, this opportunity can be really exciting. Check out decor options from modern to classic and even grunge to see what best suits your personality – and your budget.
Young veterans who re-enter civilian life are in a unique and sometimes awkward position. It can be easy to feel out of place, but there are resources you can utilize to make the most of an uncertain situation. With the experience you have under your belt and a few financial best practices in mind, you can find success as you carve out a place for yourself in the community.Pivedite is committed to exposing social problems and finding peaceful solutions to them. Visit us online to learn more about our mission and to contribute to this cause