Matthew Sapaula Provides Financial Tips for Military Personnel on SCORE TV
Whether you are in the military now, plan to be in the future, or have recently left you need to be on top of your game regarding future financial plans and taking full advantage of all your veteran’s benefits. Matthew Sapaula recently met with SCORE Chicago to discuss some strategic financial planning moves for those who are in the military and some tips for fully utilizing benefits once you are out.
Here, Matthew discusses the necessity and importance of maximizing your pay while you are enlisted. He discusses:
* Planning for the future while you are in the service: Don’t let your time be wasted. You’ve got a lot of hard work to do while you are enlisted and you need something to show for it so make sure you set aside a set percentage of your wages each month.
* Avoid borrowing money while you are enlisted. If you do, you can have some of your pay docked by the lender.
The training you get in the military could result in career opportunities that create a more rich financial future. In the above video, Matthew Sapaula suggests:
* Taking advantage of all educational and training opportunities while you are enlisted. Each of these opportunities can be used to further your career both in and outside the military so make sure you take as many of them as possible. And don’t forgte to add them to your civilian resume.
Leaving the military and transitioning back into civilian life isn’t easy. Matthew gives a few ideas for ensuring you are on the right track and in receipt of all your benefits. His tips include:
* Call your local Veteran’s Administration office once you are discharged to make sure you are registered to receive benefits.
* Don’t be afraid to ask questions and think outside of the box when it comes to utilizing benefits-after all, the worst they can do is say no!
* Make sure you fully understand your benefits and take advantage of them. For instance, with a VA loan to buy a home you can secure financing with a credit rating of 640 or more and only 3% down. That’s an amazing benefit and, combining it with low home values, is really powerful.
In this video, Matthew Sapaula talks about using your education benefits. His tips include:
* Don’t limit your growth by assuming that a 4-year degree is all you can get with your military education benefits. Call your local state education benefits office to find out if you can use your GI Bill benefits for certificate courses. You may be able to get financial certification, computer certifications and more.
* Check with your veteran’s administration office to find out how much college or schooling your benefits allow.
This post written by Yolander Prinzel (www.YolanderPrinzel.com). She is a financial writer as well as a series 7, 66 and 2-15 licensed representative. During her decade of financial industry experience she has been an insurance agency director of marketing and director of operations, a life insurance underwriter, and a trading service specialist for Raymond James Financial Services. She was a featured speaker at the 2006 Hartford National Sales Conference and the 2006 Brookstreet Securities Annual Conference.
