November 08, 2019

Military Financial Readiness: Saluting your Service

Military families face unique challenges when planning for the future. We recognize the sacrifices you make including frequent relocations, deployments and other uncertainties that can make financial planning particularly difficult, but that shouldn't hinder your ability to achieve financial freedom.

Image of soldier hugging small children holding American flags

Whether you're a veteran or active servicemember, it's important you have access to tools that will help you achieve your financial goals. Our CreditSmart® program provides practical information to empower you with lifelong money management skills and support sustainable homeownership. The best part? CreditSmart® contains 12 self-guided, interactive courses, so you have the flexibility to learn on your own timeline.

Building a Solid Financial Foundation

Deployment is never easy, but proper preparation can help minimize stress and anxiety for you and your family. That's why we created our CreditSmart® Military Financial Readiness booklet. The booklet is a free, easy–to–understand guide to help you get your finances in order, avoid fraud schemes and manage your money wisely. Learn about:

  • Managing your Affairs. With a military lifestyle, it's important have knowledge of your financial, administrative and legal affairs and be able to access up-to-date paperwork quickly. Prior to deployment, complete our administrative and legal readiness check list and learn about your bank’s active duty policies. Create smart financial goals now and learn strategies to manage money during deployment, create savings for the future and avoid debt.
  • Understanding Credit. Learn the basics of credit, how to build it and maintain a good credit history. Your credit score signifies your creditworthiness to lenders and the likelihood that you will repay your loan obligations. Without good credit, it's difficult to save money, build financial security and achieve the American dream of homeownership.
  • Avoiding Financial Scams. Unfortunately, servicemembers are prime targets for financial criminals who attempt to take advantage of your frequent moves. Learn how to recognize and protect yourself from financial scams including predatory lending, insurance and investment scams, identity theft and affinity fraud.
  • The VA Home Loan Program. The Department of Veterans Affairs helps servicemembers and Veterans become homeowners. Learn the benefits of a VA home loan, the home loan process, home loan limits and how to obtain a certificate of eligibility.

Servicemembers and military families are required to expect the unexpected. Financial security at home can help bring you peace of mind because financial readiness is critical to mission readiness.

For more information on buying, owning, or renting a home visit My Home by Freddie Mac®.

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