Credit & Debt Smart Military Money

  • 8 Credit-Building Tips You Can Act on Today

    The Lighthouse Program at Veterans United has helped tens of thousands of veterans and military buyers boost their credit and get their finances on the right track. After nearly a decade of working one-on-one with veterans and their credit challenges, we've compiled a list of our top tips. Whether your credit is on the mend or in near-perfect condition, these tips will make you a more knowledgeable consumer and…

  • 6 Moves to Build Credit from Scratch

    6 Moves to Build Credit from Scratch

    It happens to many people: they're ready to jump into a home mortgage, they submit their information for loan pre-qualification and they get denied on account of not having any credit history. Why is that? Why is credit so important? There's nothing inherently wrong with having no credit, but financial institutions like to see that people to whom they lend money have a record of paying back their debts. If you d…

  • 5 Reasons Members of the Military Go Into Debt

    5 Reasons Members of the Military Go Into Debt

    Some form of debt haunts most Americans. But a new study reveals that members of the military accrue debt at alarming rates when compared to civilians. This debt can endanger service members' financial lives (and their jobs) if left untouched. Approximately 36,000 active members of the military have recently requested financial help due to large debt threatening to annul their clearances, according to nonprofi…

  • 5 Red Flags on Credit Card Offers

    5 Red Flags on Credit Card Offers

    Younger consumers often receive credit card offers in the mail. The appeal of charging wish-list goodies to a credit card allures shoppers in their late teens and early 20s. Young military families, especially those in financial trouble, need to look out for predatory offers. In 2015, credit card lenders rejected only 13.5 percent of people who applied for credit cards, compared to the 20.2 percent in the year …

  • The Pros and Cons of Switching to a Credit Union

    The Pros and Cons of Switching to a Credit Union

    With ever-rising bank fees (and frustrations), many people are considering a switch to locally-owned credit unions. Credit union membership hit a record high in 2015, with 104.8 million memberships nationwide. How do you decide if this is the right move for you? How do you choose a good one? Read on to learn more about this financial trend. What is a credit union? Credit unions are similar to traditional b…

  • Is It Possible to Lower My Car Payment?

    Is It Possible to Lower My Car Payment?

    Car loans have become standard for most Americans. In fact, car loans now last an average of more than six years, according to the credit-rating company Experian. This means the public will most likely make high car payments every month for a good portion of a decade. Experian found that for new car buyers, these monthly payments average $485, and for used car buyers, the payments average $402, according to an ar…

  • Safeguard Yourself From Identity Theft

    Safeguard Yourself From Identity Theft

    Identity theft remains one of the most pervasive and devastating personal and financial attacks on consumers nationwide. The Federal Trade Commission reported more than 330,000 victims of identity theft in 2014, according to Security Technology News. Military members are not immune to these craven financial predators. Victims may discover that their Social Security number, bank account data, or other personal i…

  • Debt and Credit Direction

    Debt and Credit Direction

    Credit cards and loans can be a great way to bridge the gaps in your budget as long as you know you can pay them back. However, what happens when you find yourself in over your head? Between school loans, mortgages, and credit cards many people find themselves tens of thousands of dollars in debt. If you are concerned about debt, here are some tips to help keep you from drowning in credit problems: Get Everyt…

  • A Financial Field Manual for Deploying Service Members

    A Financial Field Manual for Deploying Service Members

    Deployment can be one of the most challenging aspects of military life for service members and their families. The emotional stress associated with distance and the dangerous nature of the job can take a significant toll on everyone involved. Military members stepping into their first deployment without a clear sense of what to expect financially often struggle with everything from credit and income to unneces…

  • What’s The Top Way to Boost Your Credit Score?

    What’s The Top Way to Boost Your Credit Score?

    If you're thinking about buying a home and need to improve your credit score, one of the fastest ways to accomplish this is to take a bite out of your debt. The big question is where to start. Here are a few things to consider before you start paying down in earnest. Understanding Your Debt It's important to make sure that you are aware of exactly how much you owe and where the problem areas are in your credit score. If you haven't already, start by obtaining your free credit report. …