12 May, 2023

Financial Support For American Veterans - A Full Guide

Financial Support For American Veterans - A Full Guide
Written by: - Phil Baker

As a society, we Americans owe a debt to our veterans. A debt of respect and gratitude.

Veterans represent us through all kinds of turmoil, and it is only right that they are treated with the honor they deserve.

In most cases, veterans retire after 30 years of service. And as you may imagine, they do not always have a career waiting for them when they finish.

But to have them struggle financially is not acceptable.

For these reasons, there are several programs and organizations who assist veterans who experience financial issues.

The purpose of this article is to point to the direction of financial resources that are exclusively provided to veterans.

And without further ado, let’s get straight to it.

Please feel free to scroll ahead to any section that jumps out at you.

The following financial resources for veterans aren’t listed in any particular order. 

You can use the links provided to access web pages where you can apply for financial assistance.

Also read: How Is Net Worth Calculated?

meeting in place

Veterans Affairs (VA) Pension Benefits

VA pension benefits are available to some wartime Veterans and their survivors. You can check your eligibility for these benefits online, as well as finding out how much you stand to receive. 

Online, you will also be able to find out how to schedule your VA claim exam, and what to expect before and after the appointment.

Or, if you prefer, you can speak to someone on the phone on 800-827-1000.

Also read: Calculate Net Income


U.S. Department of Veterans Affairs Aid and Attendance or Housebound Assistance

Those who qualify for a VA pension, as discussed earlier, may also be entitled to other benefits if they have become housebound or bedridden, or if they need financial help to pay for the services of an aid for everyday living.

If you are eligible, you can receive an increased amount of money on your VA pension every month.


Hope for the Warriors

This is a financial resource for post 9/11 service members, and their families too, as well as the families of those who lost their lives in the attack.

Hope for the warriors provides a full cycle of care, including programs for assistance in transitioning to a new career, and for critical care coordination.

office desk

Operation First Response

Operation First Response has put together a Military Family Assistance program. It is aimed at providing financial relief to veterans who have found themselves wounded.

It is particularly handy for wounded veterans who need assistance as soon as possible, since going through the VA claim process can sometimes take a year or even longer.

This is the fund you should apply for if you have immediate needs to see to, whether they may be for housing costs, groceries, utilities, clothing, and more besides.

Also read: Pay Off Credit Card Debt


The American Legion Temporary Financial Assistance

The American Legion is dedicated to providing temporary housing assistance in the form of cash grants that you can pay towards food, housing, medical expenses.

The mission of the American Legion is to support a stable home life for eligible families with children.


Operation Family Fund

Severely disabled veterans who served our country in either (or both) Operation Enduring and Iraqi Freedom can apply for grants from the Operation Family Fund to pay for such things as emergency transport, rent, leasing, medical expenses, home improvements, vehicle repair, and trauma training and counseling.


Coalition to Salute America’s Heroes

For veterans who became severely wounded in Afghanistan, or Iraq, there is financial assistance that they can apply for from the organization known as the Coalition to Salute America’s Heroes.

Also read: Calculate Opportunity Cost 


US Cares Emergency Assistance Program

Veterans who struggle to pay their essential monthly expenses, whether it be the rent or the utility bills, can apply for a grant courtesy of the US Cares Emergency Assistance Program, providing they are eligible.

The typical amount of assistance rewarded comes in at $650, which can come in really handy to some veterans and their families.


Go Fund Me

Another option you may wish to consider is personal online fundraising through sites such as Go Fund Me.

Such sites allow you to accept donations through crowdfunding, whether from family and friends who would love to donate, or also perhaps from grateful citizens, who are thankfully to you for your service for their country.

Such fundraising can often be really effective, especially if you take to social media to create interest. 

And you can use it for either short-term or longer-term financial needs, or towards both.

Also read: How Can I Start Saving For A House In My 20s


Credit Counseling

If, as many people do, you find that you struggle with budgeting your money and paying off your debts, I would encourage you to see credit counseling.

Credit counselors are skilled at helping their clients establish a clear picture of their financial circumstances, and in developing a budget plan that’s based on your current income level which is both realistic and easy to stick to. 

Such counseling and budget planning can help you on your way to financial health, if not financial wealth.

These services are typically available to veterans and other citizens completely free of charge, because their income comes from a commission from the debt solutions that they recommend to you.

You will have no trouble finding free credit counselling online.


Wrap Up

Please don’t feel guilty if you need to apply for more than one of these sources of financial support. Your fellow citizens are more than happy to assist you, however it’s needed.

To be honest, I would even go so far as to recommend that you apply for any assistance you need through as many avenues as possible, because sometimes there can be long waiting lists of eligible applicants who apply for these funds. So any emergency funding you can tap while you are waiting for VA claims, for example, can come in really handy.

It’s also worth noting at this point that this is just a brief summary of what’s out there, and you may find more assistance besides. This occurs due to a lack of donations, since such things are subject to changing economic conditions.

This pay stub makeris a simple way to generate pay stubs online and it is very user friendly.

Thanks for reading and all the best.

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