Military Financial Wellness Supports Mental Health and Wellbeing

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 Opinions@military.com for consideration.

In 2014, a U.S. Marine Corps sergeant stationed at the Department of Defense’s OneSource contact center in Okinawa, Japan called for help from two corporals. The two corporals each had outstanding loans of $500 to him from predatory lenders. Both had paid off a total of $1,500, but each owed another $500.

This sort of thing is sadly common, even though it’s illegal to charge more than 6% of financial loans to military personnel thanks to the Military Citizens Relief Act (SCRA). As Deputy Assistant Secretary of Defense for Military Community and Family Policy (DASD MC&FP), he knew that assistance was available to rescue 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 specialized consultations, including relocation support for military families who move every 2-4 years. A robust spousal employment program that seeks to improve the military spouse unemployment rate, which has hovered around 24% for more than a decade. Financial counseling by a Certified Financial Counselor (CFC).

Confidential counseling is at the heart of our 24/7 contact center. Also known as non-medical counseling. This is the nation’s largest behavioral health resource where he offers his 12 confidential counseling sessions for each problem. Master of Social Work (MSW) or above on issues that prevent service members or their families from living their best lives, whether related to relationships, work, or general anxieties and concerns. 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 him. 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 personal financial counselors available at most facilities, some available through DoD partners, namely military banks and defense credit unions.

This network of so-called “in-the-gate” resources is powered by countless non-federal organizations such as the Military Bankers Association, the Legal Aid Society, 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, if a military member or their family member calls Military OneSource and talks about sleep deprivation, anxiety, depression, low self-esteem, or feelings of hopelessness, the average person would attribute these to poor mental health. You might think of it as a sign. While these sentiments are accurate, they are also a common sign of poor financial health.

Physical signs that financial stress is affecting your mental health include arguments with loved ones about money, sleep disturbances, anger and anxiety, mood swings, fatigue, loss of appetite, and harassment from others. Hikikomori and others include, but are not limited to. 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 mental and financial health can spiral out of control. much more difficult.

Financial anxiety and distress can get worse from there if unchecked. Experts call maladaptive coping strategies such as excessive drinking, domestic violence, infidelity, and even suicidal thoughts. , relationship and financial problems were commonly found to be among 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 that shed light on the prevalence and danger of economic insecurity in all populations, including a recent study by 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 the non-federal organization (NFE). Affiliated non-profit organizations, 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. This includes an excellent financial health program for veterans called the Veterans Benefit Bank Program.

With 85% of enlisted military personnel under the age of 35, modern approaches such as FinTech are important tools for financial education, and where they live and thrive in social and digital media is their place. Perfect for your thumb. 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 kids and starts early with the basics to build a solid foundation for financial health. offers courses. There are several of his NFEs running notable FinRed programs for preschoolers. Consider this: What if we modeled financial education for children as we did decades ago for seatbelt safety and the dangers of smoking? Children owned it and took it home to 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.

View full article