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Programs give veterans financial bootcamp
FOX 26's Heather Sullivan talks with an Army veteran who is working towards buying her first home with the help of two non-profits Money Management International and Soldier On, that provide them with financial education.
HOUSTON - Veterans are fifty percent more likely to become homeless than other Americans, according to government data. That's why two non-profits are working together to get them back on their feet and into homes.
Many veterans struggle to find jobs and now, 40-year-high inflation and rising rents are putting many at risk for homelessness.
"It has to have a big backyard. It has to have a large kitchen, and the bedrooms have to be spacious," said Army veteran Gwenelyn Cook.
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Cook dreams of buying her first home. A dream that didn't always look possible.
"I had a lot of financial challenges. I just recently went through another financial challenge, with almost being homeless in July, being in between jobs," she said.
Many veterans face financial challenges, even homelessness after transitioning from military life, where housing, meals, health insurance, even clothes are provided, to civilian life. Many are struggling with 40-year-high inflation or finding a good job.
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FULL VIDEO: Army veteran discusses hope of buying her first home
FOX 26's Heather Sullivan talks with Gwen Cook, an army veteran working toward buying her first home with the help of two non-profits, Money Management International and Soldier On, that helps veterans with resources such as housing and provides them with a boot camp in financial education.
"A lot of our veterans are on fixed incomes. They get a disability check, social security," said David Ramirez with Soldier On.
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A partnership between non-profits Money Management International and Soldier On helps veterans with housing, resources, and provides a sort of boot camp in financial education.
"Perhaps they have some unpaid collections they need to address. A majority of them have no active credit, meaning there's no credit. They have nothing open or active," added credit counselor Mark McBride with Money Management International.
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"We review their whole credit report. We really work with them to make a realistic plan, so they don’t have to live paycheck to paycheck," said Ramirez.
"And not only have a home to rent, or a future buying, but have their credit improved," said McBride.
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McBride is helping Cook with credit counseling to reach her dream of buying her first home next year.
"I’m still going to get my home, a full sense of security, and I’m almost there," she laughs.
Veterans can reach out to Soldier On or Money Management International for help if they're struggling to make a transition.
**NOTE** We here at FOX believe our veterans deserve to live with dignity and independence, not on the streets. So join me in making camo your cause in support of the Honor U.S. Vets campaign. To donate and learn more about how you can help U.S. Vets end veteran homelessness, scan the QR code on your screen right now. And make sure to post on social in your camo with #HONORUSVETS.