4 Ways Veterans Can Take Control Of Their Finances
Taking control of your finances can be trying for anyone, but for struggling veterans, this issue may feel impossible to tackle. Luckily, there are lots of resources available, and the Purple Heart Foundation prides itself on helping military veterans and recognizing the sacrifices they’ve made. We would like to extend some information on how veterans can take control of their own finances on an individual basis.
1. Check Your Credit Score
Credit scores may not be the first thing on your mind when checking your bank accounts, but they are an extremely important tool that is needed when making big-ticket purchases. For example, buying a home will require a credit score check before you are able to take out a loan. Although VA loans offer flexibility to veterans, it’s still a great idea to first understand what credit score is needed to buy a home. Checking your credit score is free and won’t impact your credit. Plus, just this small step will allow you to gain a clearer picture of your financial situation.
2. Have a Plan to Pay Off Your Debts
Anyone struggling with debt understands the burden it can have. However, it’s crucial that big and small debts alike come with a plan for paying them off. Some of the more important factors to consider when creating a debt payoff plan that financial experts recommend is to include what your baseline budget will be and how much you’re going to allocate each month toward your debt payoff. Having an idea of how you’re going to pay your debts on time and eventually living debt free will be a huge weight off your shoulders and allow you more flexibility in your finances.
3. Cancel Unnecessary Subscriptions and Limit Overspending
Overspending is a common problem for many. There’s a reason such a thing as “retail therapy” exists! But that joy from buying a fancy back scratcher will quickly fade once you do the math on how much these unnecessary wants are costing you. Ways to combat emotional spending may include window shopping instead of buying so you can learn to understand what triggers your desire to overspend. Even taking a look at your monthly subscriptions, such as streaming services, and cutting back on those can help you increase your budget and improve your ability to meet long-term financial goals.
4. Save Up Toward Retirement
Lastly, retirement should be a huge consideration and part of your overall financial plan. Whether it’s through a 401(k) plan or savings account, having money set aside specifically for your retirement is a great way to start. Consider also speaking with a financial advisor to see exactly how much you and your family should save up to retire, and what your individual options are.
Taking control of your finances is no small task, and with the COVID-19 pandemic, this task may become that much more difficult. The Purple Heart Foundation is committed to helping veterans in whatever way possible, so we hope these steps will help you take control of your finances. If you would like to help veterans who are struggling financially, please be sure to check out our Veterans Critical Assistance Grant and make a donation today. Together, we can make a difference in the lives of our nation’s veterans.
Vietnam Veteran to High School History
We all wonder where life will take us, he never wondered, he knew. John Harrison, a sophomore student at North Carolina University, wanted to fly helicopters but the only way he was able to, was by joining the Army. Not many would jump at the idea of joining the military, but he did… just to fly helicopters. Growing up he had a great childhood, a loving family and no regrets. With a clear vision in mind and the love for helicopters in heart, he pressed on with the hopes of making a difference.
It didn’t take long for John to get through Basic Combat Training, pass all qualifications and tests at Ft. Polk, L.A. and confidently begin his service in the United States Army, something he had aspired to do for so long. The transition from civilian to soldier was not an easy one though; it was divided into three parts…
- “The RED phase” is the beginning of your training, to prepare you for what’s to come.
- “The WHITE phase” is where he got most of the physical and psychological strength.
- “The BLUE phase” taught him how to handle weapons.
During the first several months in the military, John really enjoyed his time with fellow soldiers and instructors who only had “Tough love” for him. Since he had prepared well for the Army he was in great shape to withstand just about anything, even though he recalls the weather being too hot. It was so unbearably hot in Vietnam that they would drink 4 to 5 gallons of water, every day.
Many would be surprised how John expresses his take on joining the army, but this experience changed his life, his points of view, and his whole being. In the military you can train and prepare as much as possible, but nothing is like experiencing the challenges and traumas of combat than real life. John went to Officer Candidate School later, where he became Airborne Rifle Platoon Leader and Company Executive Officer.
Not long after, his unit was deployed to Vietnam on a USNS (United States Naval Ship). John joked, that although his accommodations on that ship weren’t great, the food was the best part. Since the ship was old, they had to stop at an island in the Philippines for repairs. While on the island, many of them stayed late in a club and almost ended up getting killed! Then after leaving the island, they came across the end tag of a typhoon and many were having trouble keeping their food down.
Finally, they reached Vietnam. They were told they would be safe because they were being protected by South Korea. One of the scariest and most unexpected moments in Vietnam was the first time he got shot at while walking in the mountains with his platoon. John thought to himself that he had been around shooting ranges so it wouldn’t be such a big deal…but as they kept taking on fire, he felt dumbfounded, he didn’t react, he didn’t really know what to do in that moment. The firefights in Vietnam were nothing like they had trained for.
John lasted 4 years in the Army, and said that it was nothing like he had expected. The military can train you so much, but you will never be completely ready to fight when it comes down to it. He was awarded the Purple Heart medal, because he was wounded during his service in Vietnam. He is thankful every day for not ever being captured as a prisoner of war (POW) and for being able to come home to his family. John retired from the military and went back to school to study Law. He became a well-known attorney and realtor in the Washington-Metropolitan Area. Later he went on to teach law at Bishop Denis J. O’Connell High School where he said he truly enjoyed his time with his students and learned a lot from their different opinions.
Now John enjoys his time traveling, being at home and just enjoying life. He has published two (2) books, in which he narrates his life experiences in Vietnam. From one’s first impression of John though, you wouldn’t think he was a veteran or picture him in the dangerous settings he described to me today. One thing is for sure though, John Harrison is and always will be, “Army Strong”.
JP Lane's Short Story
JP Lane’s Short Story – Purple Heart Veteran
My name is Justin Lane, aka JP Lane. Many people have their own reasoning for joining the military, mine is probably similar to most my age, in 2001, watching the twin towers fall. I was reminded of that feeling when I was old enough to sign up. At the age of 20, In 2008, I joined the U.S. Army as a Combat Engineer. I was deployed, in 2010, to Afghanistan to search for IED’s (Improvised Explosive Devices). I was blown up 3 separate times, and the 3rd one got me. July 2nd, 2011, I was blown up by a 200lb IED while on mission. It was the first IED to penetrate an RG31 truck. The blast resulted in putting me in a coma for 6 weeks. I lost both my legs, right arm snapped in half, lost my four front teeth, pelvis snapped in half, spine dislocated from my pelvis, and everything in my torso was destroyed by shrapnel except for my heart and left lung. In total, I received 26 injuries, and had 28 surgeries, this completely changed my life. Doctors said I wasn’t going to be able to do many things, like, use prosthetics because my legs were so badly damaged. Also, that I wouldn’t be able to speak properly or sing ever again because of a tracheotomy.
With each day, I am proving them wrong. I am the only double amputee recording artist in the world. God wasn’t finished with me yet. Since I got my prosthetics, I have performed for 2 Presidential Inaugurations, Presidents Obama and Trump. I have performed with Lee Greenwood, Neil McCoy, Aaron Tippin, Jason Castro, and more. I have performed for non-profit organizations such as Adopt-a-Vet and Helping a Hero, which are in support of our military. I also, performed for organizations that support the local community, like, “Taking it to the Streets”, a homelessness initiative, and G.A.N.G Outreach in Colorado, that provides positive/encouraging sports camps for underprivileged kids. I have also been able to perform and inspire thousands in Brazil and Mexico. I signed the dotted line when I joined the Army – to SERVE and protect the American people – and since I am still alive, by the grace of God, I will continue to serve. Retirement is just a word! So, I decided to be a motivational speaker to share my story and give hope to those who need it. I am a reminder for others to “Never Give Up, Never Surrender”.
My goal is to impact the world with more than just music. Changing hearts and minds, one at a time.
In a situation like mine, most people would look in the mirror and feel like no one would want them. I was blessed to have found someone who not only loves me for me, but also supports my career and my passion of singing. Crystal, my beautiful wife as of Feb. 2018, has been a huge support for me and given my life purpose. We now work together inspiring couples around us, telling them the amazing story of what brought us together.
April 1st – 9th, I went back to AFGHANISTAN to have a “proper exit.” I was able to visit the hospital I was first recovering in after being blown up. Since I was in a coma, I did not remember much of the hospitals or traveling that I did during that time. As I visited different bases around Afghanistan, I was welcomed back with open arms from thousands of troops. I was proud to walk down the welcome ceremonial row, holding my “NICE TRY TAILBAN” shirt. One of the most amazing feelings was getting to wear the U.S. Army uniform once again, but nothing compared to the feeling of getting to leave the country on my own two feet, prosthetic feet, with my head held high!
Upon returning from Afghanistan, just as it seemed like my story was about to end, Crystal and I were in a serious car accident that rolled our jeep and destroyed our car. Airbags went off in every direction, and glass shattered with every turn of our vehicle. Thank God we were wearing our seat belts, otherwise the damage we received would have been worse. But as part of the strong and determined Lane family, we will overcome. Nothing in this world will defeat us or bring us down! We have a purpose… to bring hope, love, inspiration and the idea of being mentally strong, to people across the world.
Honoring Purple Heart Month
As we begin the month of August, it is our great pleasure to welcome you to
Purple Heart Month!
This month is dedicated to paying our respects to all the brave men and women wounded or killed in combat. The official Purple Heart Day is observed on the 7th day of August each year, commemorating the historic day in 1782 that General George Washington, Commander-In-Chief of the Continental Army, commissioned the first Purple Heart Medal, originally called the Badge of Military Merit.
The Badge of Military Merit is a purple, heart-shaped piece of silk bound with a thin edge of silver with the word merit embroidered in silver across the face. Only 3 Badges of Military Merit were awarded. The Badge of Military Merit was redesigned and re-commissioned in 1932 by General Douglas McArthur in honor of George Washington’s bicentennial birthday. Now known as the Purple Heart Medal – it is the oldest military award, first being awarded to soldiers in World War I and still given to soldiers today.
A presidential order signed in 1942 permitted the Purple Heart Medal to be awarded to all branches of the military including the U.S. Coast Guard. It was World War II, when the qualification to receive the Purple Heart Medal changed to honor those who were wounded or killed in combat – that is why it’s recipients often call it “the medal that nobody wants”. It is unknown how many soldiers actually received it. However, we know that the soldiers listed below are some of the most awarded Purple Heart Recipients in history:
Robert T. Frederick, U.S. Army: World War II (8)
David H. Hackworth, U.S. Army: Korean War (3), Vietnam War (5)
Joe Hooper, U.S. Army, Medal of Honor: Vietnam War (8)
Robert L. Howard, U.S. Army, Medal of Honor: Vietnam War (8)
William Waugh, U.S. Army: Vietnam War (8)
It took the Purple Heart medal many years to evolve into what it is today. Today, on the reverse of the medal, “FOR MILITARY MERIT” is inscribed. The medal itself is made of brass with a gold color to it, and also contains a bust of George Washington and his coat of arms. The purple color represents the blood of all those who have made sacrifices in war, but traditionally it represent the courage of those who serve. The original color of the medal George Washington created was purple, so it was only fitting that it would be used to honor his memory in the new medal.
The Military Order of the Purple Heart (MOPH) was formed in 1932. It is composed exclusively of men and women who have received the Purple Heart Medal and is the only Veteran’s Service Organization whose membership is comprised solely of “combat-wounded veterans”.
The Military Order of the Purple Heart Service Foundation, also known as the Purple Heart Foundation, was later created in 1957 as a non-profit organization. For more than 60 years, the Purple Heart Foundation has solely dedicated itself to funding programs and services that support our nation’s heroes. Donate to show your support of the Purple Heart Foundation and to help us continue to serve our nation’s veterans who have already sacrificed so much.
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