Homelessness is one of the many issues that occur to
many military veterans. Though veterans are less than 8 percent of the
population, past studies has shown that veterans make up about 20 percent of
Americans without stable living. No one, let alone those that risked their
lives to protect our country should be in the position of not having a permanent
home of going to. But what is the cause of so many veterans being homeless? The
answer is simpler than what you think.
Now
many would think post-traumatic stress, brain injuries and drug abuse are the
main factors to the homelessness problems of those veterans. But the
mismanagement of money, has been the pitfall that many have become victim to,
and potentially is the easiest problem to address.
Researchers
from the University of North Carolina and Duke University, recently found that
of a 1,000 of veterans from the Iraq and Afghanistan era, one-third of them has
gone over their credit limit, written a bad check or been contacted by a
collection agency. The median income for that group of veterans was $50,000, so
the financial problems they were inheriting weren’t due to low-income.
One
solution to this epidemic amongst veterans is the military providing financial
education to those serving. For at least the first three years of their
service, military workers should be required to attend a seminar of some sorts
that educates them on how to properly manage their money. They could teach them
how to create a budget, avoid financial scams, and balancing a checkbook. But the
financial education should not stop at the beginning of their service,
post-term classes should be offered for free to those veterans to inform them
how to preserve and smartly invest their money after leaving the service.
Veteran
Affairs has found that homeless veterans are six times more like to consider
suicide than those who are financially stable. This is even more of a reason
why the lack of monetary competence should no longer be an issue that is
ignored and be addressed soon to help keep our veterans in a home.
