Military Financial Wellness Supports Mental Health and Well-Being

Rosemary Williams is a Specialist Executive at Deloitte Consulting LLP. She previously served as Assistant Secretary of Defense for Public and Intergovernmental Affairs at the Department of Veterans Affairs and Assistant Secretary of Defense for Military Community and Family Policy at the Department of Defense. Her work with military families and veterans followed her broadcast journalism career, during which she won numerous awards, including an Emmy for her coverage of 9/11 on MSNBC. .

The opinions expressed in this article are those of the author and do not necessarily reflect the views of Military.com. If you would like to submit your own comments, please send the article to his [email protected] for consideration.

US Marine Corps Sergeant stationed at Department of Defense Military OneSource, 2014 contact center I sought the help of two corporals in Okinawa, Japan. The two corporals said he had an outstanding loan of $500 from a predatory lender. Both had paid off a total of $1,500, but each owed another $500.

This sort of thing is sadly common. Military Personal Relief Act (SCRA).as Assistant Secretary of Defense Military community and family policy (DASD MC&FP), I knew there was help to extract the corporal from the catastrophe, albeit after the damage had been done.

Various iterations of SCRA date back to the Civil War, but much of what SCRA seeks to protect has been plagued by a lack of resource awareness, relentless predatory lending, and financial crises of the past 10 to 15 years that have led to financial difficulties. continue to suffer from the deterioration of Constant peer and peer pressure from others’ purported personal property through the so-called “highlight reels” of social media.

resource is available

Military OneSource has many specialty consultation such as moving support For military families that move every 2-4 years.stubborn spouse employment program what you want to remove Unemployment rate hovering military spouse twenty four% Over 10 years.and financial counseling Certified financial counselor (CFCs).

Confidential counseling is at the heart of our 24/7 contact center. non-medical counseling, one of the nation’s largest behavioral health resources, offering 12 confidential counseling sessions per person, per issue, with counselors with Master’s Degrees in Social Work (MSW) or above on any issue that interferes with military service members. Increasingly, it prevents families from living their best lives, regardless of relationships, work, or general anxieties and worries. All challenges are welcome. Specifically, to prevent the problem from getting bigger and much more negative. Appointments can be made by phone, text, email, and in person 15 miles from where the caller lives or 30 minutes away from her. Military OneSource provides equal support and prevention.

This extremely generous program, offered by the Department of Defense, makes it as easy as possible for military personnel and their families to seek help. Calls are answered within 6 seconds he is 24 hours a day, 7 days a week and the caller is never put on hold. In addition to his CFC at Military OneSource, he also has a personal financial counselor available at most facilities, and is available to many more through DoD partners. military bank When defense credit union.

This so-called network of “in-gate” resources is powered by a myriad of non-federal agencies, including: American Military Bankers Associationlegal aid societies, and other non-profit organizations.

financial education and wellness

Military OneSource financial counseling is classified as non-medical counseling. This is because financial health is inherently tied to a person’s mental health and well-being. Again, financial health is intrinsically tied to a person’s mental health and well-being.

Specifically, when a military member or family member calls Military OneSource and talks about sleep deprivation, anxiety, depression, low self-esteem, or feelings of hopelessness, the average person considers these to be signs of poverty. There is a possibility. mental healthWhile these sentiments are accurate, they are also a common sign of poor financial health.

Some Outer Signs of Finance stress Things that affect mental health include, but are not limited to, money arguments with loved ones, sleep disturbances, anger and anxiety, mood swings, fatigue, loss of appetite, and withdrawal from others. It will not be. Addressing financial issues early can reduce the impact on your mental health.

This is something many people already know, but it’s not clear to everyone that financial health and mental health go hand in hand. They affect each other and, if not kept in check, both your mental and financial health can spiral out of control. shame It is associated with financial difficulties, making it much more difficult to seek help.

Financial anxiety and distress can get worse from there if unchecked – what the experts call maladaptive coping strategies, including excessive drinking, domestic violence, infidelity, and even suicidal thoughts. There are as many reasons why people die by suicide as there are people who commit suicide, and we know it. relationship When financial problems Generally, they fall into the top two factors related to suicide. Addressing financial issues early can reduce the negative impact on mental health and, in the case of the military, can help improve military readiness.

Financial insecurity and the need for financial education are not military issues, they are common to military and civilians alike. For the military, we call it “financial preparation,” but outside the gate it’s the same problem. We avoid the term financial literacy. This is because a person without knowledge is called “illiterate”.

Civilians are also relevant as it is where military families live today. Specifically, 72% of military families and 68% of single military personnel live outside the gates of their facilities. Additionally, we see a growing number of military spouses who identify themselves not primarily as military spouses, but as mothers, bankers, teachers, or church volunteers, just to name a few.

Financial preparation is military preparation

There’s a science behind the store-worn adage that the biggest distraction for down-range service members is family matters. Financial stress could be at the same level if there was an accurate way to measure it. Simply put, the lethality and safety of service members depend on their mental clarity and freedom from the general anxieties associated with personal financial matters.

There are several studies out there that shed light on the prevalence of Risk of financial instability Across all populations, including recent Research From the Military Family Advisory Network. However, problems within the military community cannot be measured accurately. This is because in a worst-case scenario, members of the community are at significant risk and may face penalties such as promotions, loss of security clearance, or even being kicked. outside the army. This means losing potential long-term benefits, retirement options, and/or free health care. These possible consequences and the significant stigma around economic hardship make it difficult for military personnel or military family members to use DoD resources like his OneSource in the military, even if it is safe and encouraged to do so. less likely to ask for help.

Community-Based Modern Financial Preparedness Assistance

enter non-federal organization (NFE) — Associated non-profits, associations and aid organizations. They are critical partners in the health and preparedness of the entire military-connected community, including military personnel, veterans, their families, caregivers and survivors. So many armed forces and their families will not risk knowing that the Department of Defense is in financial trouble, so independent, Pentagon-approved resources must be tapped.

All entities must work together and coordinate to meet the financial preparedness requirements of the entire military community in which they live. Also, his influential NFE should be included under the Pentagon tent to be part of the solution. Agencies such as the VA thrive on public-private partnerships that serve veterans, their families, caregivers, and survivors. Veterans Benefit Bank Program.

modern approaches such as Fintech An important tool in financial education. 85% Enlisted men under the age of 35 are free to choose where they live and work in social and digital media. Additionally, paid digital advertising promoting tools and other resources online is now a must to break through the noise that has become the 24/7 news cycle.

Be aware that the social and digital avenues can also run counter to our best efforts. Attacks with images of co-workers and close relatives who appear to be living upper-class lives without always understanding the basics of their financial situation and what their personal financial lives are for the best. Remain private and private.

Some of the best research on this is for children and starts early with the basics to build a solid foundation for financial health. I’m here. financial algebra When business and personal financesThere are several NFEs worth noting Finred A program for preschoolers. Consider this: financial education for kids As was done decades ago with the safety of seat belts and the dangers of smoking. Children owned it and took it home with their parents who were faced with changing their attitudes and habits .

Mental health and money issues don’t always have to be intertwined. We all have the power to transform the financial situation of military personnel and their families. Let them know that they don’t have to take on the task alone. By helping them make small changes and rely on available resources for support, a journey in striving to become financially and mentally healthy in a way only a true professional can. It helps to appreciate every step of.

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