Military Finances

Cheryl Lawhorne-Scott is a clinical therapist with an eighteen-year track record of counseling services specializing in trauma care, posttraumatic stress, and traumatic brain-injury treatment for wounded, ill, and injured service members and their families. As a senior consultant, under the Office of the Secretary of Defense, she is part of a team that seeks innovative and proactive ways to enhance resources and services to military members and their families. She recently participated in the corporate mission, vision, and implementation of projects for the Department of Defense to align current and future strategic plans and objectives. She possesses proven expertise in both program management and clinical experts in research, business development, and wounded care. Proud spouse and teammate to Lt. Col. Jeff Scott, and mom to Evan and Quinn.Don Philpott is editor of International Homeland Security Journal and has been writing, reporting, and broadcasting on international events, trouble spots, and major news stories for almost forty years. For twenty years he was a senior correspondent with Press Association-Reuters, the wire service, and traveled the world on assignments including Northern Ireland, Lebanon, Israel, South Africa, and Asia.He writes for magazines and newspapers in the United States and Europe and is a regular contributor to radio and television programs on security and other issues. He is the author of more than 120 books on a wide range of subjects and has had more than five thousand articles printed in publications around the world. His recent books include the Military Life series, Terror—Is America Safe?, Workplace Violence Prevention, and the Education Facility Security Handbook.

This handy money-management guide is aimed squarely at those who have served in the U.S. military and their family members. Those serving in active duty may find it difficult to manage finances from far away; it can be equally difficult to deal with money when returning to 'normal' civilian life. It’s also important to remember that many join the service at a young age and do not have the benefit of experience. The book breaks down general financial planning into manageable chunks, covering topics such as taxes, investments, insurance, funding for education, home ownership, and transitioning to life after the military. Authors Lawthorne-Scott and Philpott each have personal and professional experience with the military, and it shows in their vocabulary and manner. Public libraries would do well to add this to the shelves of consumer financial-planning books; academic libraries with ROTC programs will find this a must-purchase.

• IntroductionChapter OneConducting your financial auditCreating a BudgetDid You Know?Protecting Your FinancesPay and general money managementChapter TwoBank accounts, Savings and InvestmentsElectronic BankingSavingWorking with financial and investment consultantsSavingsCredit CardsCredit ScoresCredit CounselingLoans and Financial AidLoansFinancial AidChapter ThreeTaxesChapter FourInsuranceChapter FiveHome owningMovingChapter SixGetting Married and Having a familyGetting MarriedLegal ConsiderationsMedicalStarting a familySelf and FamilyChapter SevenEducation – funding yourself and offspringChapter EightPlanning for leaving the militaryOverviewTransitioning AssistanceTransition From Military to VADeveloping Your Own Individual Transition Plan (ITP)Chapter NineLife after the military (transition/retirement)EmploymentTransitioning for a Wounded Warrior into the VATransitioning for a non-wounded warriorTransitioning for a non-wounded, retiring warriorResourcesFinance and Investment GlossaryAppendix