EL PASO, Texas (KTSM) – The El Paso Veterans One Stop Center is looking to help veterans in our area make the transition to civilian life easier, especially when it comes to finances.
The center partnered with Navy Federal Credit Union to hold a budgeting workshop for service men and women and their spouses on Wednesday. They learned how to create a budget and why it’s important to stick to it.
“As troops, we have to focus on the mission for the most part housing health care and even sometimes when it comes to taxes, it’s all taken care of while your in,” said Military Veteran Tom Moran.
Moran got out of the Military in 2008 during the recession when veteran unemployment was high. While in the military he said he was clothed, fed, housed and insured. He didn’t learn to make a budget. His focus was on serving the country, making the transition to civilian life that much harder.
“I can say for most of my peers we lacked financial literacy and it was challenging and it added on to the stress that we already had as we were transitioning at,” said Moran.
Now he works with the Veteran One-Stop Center and encourages others to be prepared with a post-military budget.