Veterans are no different from service members regarding being targets of predatory financial practices and fraud. According to a 2019 report put together by the BBB Institute for Marketplace Trust and the Association of Military Banks of America, called the Military Consumers & Marketplace Trust: An Analysis of Marketplace Challenges Facing the Military Community, of the scams reported, the military community suffered financial losses 32% higher than the population as a whole.
Now there is a new benefits card to help veterans and military communities protect their benefits and finances.
In this episode, I talk to Andia Dinesen about what the card is, how it can help, how it’s different from normal debit cards, and how to get one.
Andia Dinesen is the Executive Vice President for Communications & Operations for the Association of Military Banks of America (AMBA). She assists the President/CEO of AMBA in all aspects of communications, operations, and programs, focusing on providing financial readiness support to the military and veteran community through AMBA member banks. Andia maintains and manages the Veterans Benefits Banking Program, a partnership between AMBA and the Veterans Benefits Administration.
Andia is also a military spouse, an Accredited Financial Counselor® and has a Master of Science in Personal Financial Planning from Kansas State University.
The Military Money Show is supported by Navy Federal Credit Union. Ready to get that credit card debt off your back this year? Navy Fed can help if you get a low APR on balance transfers with their Platinum Credit Card, their lowest rate card. At Navy Federal Credit Union, their members are their mission. You can learn more at navyfederal.org.
Related: Preparing Your Finances for Leaving the Military
More Podcast: Saving Automatically With Banking
MilMoneyCon is the annual event for financial professionals united by military service. Its mission is to bring service members, veterans, and military spouses together to build and progress their careers, continue their education, and grow their earning power as practicing or rising financial professionals.
MilMoneyCon23 is happening April 27-29, 2023, in Nashville, TN. Attending the annual conference gets you connected with the biggest community of military financial planners, coaches, counselors, candidates, and educators. It’s a place to find employment and money-making opportunities, increase earning power, and continue your education.
Reserve your pass at: https://milmoneycon.com.
You can reserve your hotel room here. To book a room with the discounted room rate, change the arrival and departure date to April 27-30, 2023.
Get them answered on the show. Submit your questions here.
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If you want to “kickstart” your finances in the military, you can get access to my free Financial Kickstart Kit here.