5 Must Read Personal Finance Books for Military Personnel

Guest Post by Lauren Oliver

Everyone can benefit from some financial assistance and guidebooks at one point or another. There are tons of great resources, and there are tons of not so great resources. What about military personnel? What are some great resources specifically geared toward military personnel? We all could use the benefit of a good informational read, but I want to include the best financial reads specifically for military personnel.

As in most of my recent posts, I included lists, as I love making information easy to read in the form of lists. So this is the list of the 5 must-read personal finance books for military personnel.

#1 Financial Aid for Veterans, Military Personnel, & Their Families by Gail Ann Schlachter and R. David Weber is a very informative read, according to Reference Book Review. There are over 1400 entries concerning funding, spending, saving, etc. for military personnel, vets, and families. Financial Aid for Veterans, Military Personnel, and Their Families, 2010-2012 (Financial Aid for Veterans, Military Personnel and Their Dependents)

5 must read personal finance books# 2 The Military Guide to Financial Independence and Retirement by Doug Nordman delves into a guide for making oneself financially independent before they retire from the military. It includes information to help the reader build financial stability in the household based on military benefits, how to save and put into savings, being frugal, and investing. There is a great selection of resources within including relevant examples, websites, and appendices. The Military Guide to Financial Independence and Retirement

# 3 Powers’ Veterans Benefits for Dummies is a great book in the Dummies collection geared toward financial and benefits advice and direction for military personnel and veterans. Veterans Benefits For Dummies

# 4 I am including number 4 because there are definitely different steps taken when transitioning from military to civilian federal jobs and resume building. In Military to Federal Career Guide, 2nd Edition by Kathryn Troutman, the author takes a look at the Executive Order put into place and created by President Obama in regard to military vets transition from military career to federal career. This guide includes a look at how to present a federal resume to specific vacancies, becoming best qualified, and applying. This edition offered through Amazon.com includes a CD-ROM. Military to Federal Career Guide, 2nd Edition (Military to Federal Guide (W/CD))

# 5 The Complete Idiot’s Guide to Your Military and Veterans Benefits by Lawrence J. Webber and Katrina L. Webber looks at details that explain active duty family benefits, details on education and medical benefits for veterans, and money-saving advice and information including explanations of discounts available to active duty military personnel and veterans. The Complete Idiot’s Guide to Your Military and Veterans Benefits

These 5 must read finance books for military personnel can all be found through Amazon, Books-a-Million, and most probably Barnes & Noble as well. All of these guides are offered at affordable prices, no more than $20, with the exception being book number one. This is a lengthy and in-depth read and can be found as much as $40 to $50. But with the financial advice it is possible to turn around worry and stress into secure financial stability.

About the Author: Lauren is a stay at home mom currently working from home as a freelance writer. She is certified in Education with a background in education, writing, and tutoring to help students develop their educational skills. She comes from a military family and writes articles about education, military life, and personal development.

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15 thoughts on “5 Must Read Personal Finance Books for Military Personnel”

  1. What a great resource you have provided! Being around the military for such a long time, I feel like financial freedom is one area where the military neglects to emphasize. The resources are just not as abundant as they are in some other areas. I found the first Financial Aid book you mentioned and looked through it, but it was pretty expensive. So, I have been on the look out for it since then. I have read through the complete idiot’s guide and that was also a really good resource!

  2. This is a great resource list. As Chuck mentioned, many are not taught about finances, and need to learn on their own. Parents, please teach your children good financial habits. I also wish they would offer more basic financial education in schools.

    There are a couple of financial books from a civilian standing that I would recommend also:

    Rich Dad, Poor Dad by Robert Kiyosaki

    Your Money or Your Life by Vicki Robin

    and

    Total Money Makeover by Dave Ramsey

    I am a huge Dave Ramsey fan and I recommend all his books.

  3. I have a Kindle HD Fire and am excited to see that all five finance books particularly good for military are available in this particular tablet format. In addition, no matter how good one’s resume is … if one’s credit rating is low because of poor finance decisions, that is something to worry about. Third, students in elementary through high need to have financial matters integrated into their instruction whether in social studies, literature, math or information technology, so that they are well-equipped to make good money decisions throughout life. They also need experience with budgeting, saving and spending money. It affects all ages in life and even more so in retirement, a time that most in military and non-military do not plan for. Thanks for this informative blog post, Lauren.

  4. It is great to see a list of financial resources as military families have a lot of complicated resources to manage. I would definitely recommend a soldier look into her/his immediate and long-term benefits as soon as possible. If money is tight, use a local library’s loan program to obtain copies of the book (if the library does not own the books already) so you do not need to delay getting the information.

    1. Since most Soldiers learned nothing about personal finances during school or at home, most of them are clueless about how to handle their money. I think all military leaders should have their soldiers read at least one personal finance book and then have a discussion about it. Hopefully, something would sink in.

      1. Thanks for these great books, I think they are great recommendation. A great idea for NCODP or OPD would be a finance class, which then could be taught to the Soldiers. A lot of joes don’t get taught these things and it could benefit them, especially during a deployment.

  5. Excellent piece Lauren. It’s good to keep in mind that after reading all the books, and after a few years pass, many people need more help with financial planning and turn to either a CPA or Certified Financial Planner. If you reach middle-age and have some assets to put into a trust or foundation, it doesn’t cost an arm and a leg to hire a pro. Nowadays, there are CPA’s who do nothing but financial planning for individuals. The CFP will charge less and is the way to go for those who can’t afford the CPA rates.

  6. This is a valuable resource especially for anyone in the service. No matter how long you have served or in what capacity, it is critical that you plan your financial future appropriately. Don’t wait until the last minute, or it may be too late! I’ve personally read The Military Guide to Financial Independence and Retirement by Doug Nordman. It’s pretty comprehensive, dealing with a number of military financial related issues and tips that you can start putting into place right away! That’s what my husband and I did.

    1. Thanks, Michelle.

      I wish more families would talk about money. For some reasons, it’s considered taboo. I’m not sure why either. If you aren’t proactive and manage your money wisely, you will probably die broke. I don’t know about you, but I want to spend my retirement years doing fun things, not eating dog food.

      And life goes by fast, much faster than we think. So educate yourself, develop a game plan and follow your plan every single month.

      Chuck

  7. This is extremely helpful. There are so many who prefer to get their answers in the privacy of their own home and without having to contact different people and go through different channels. I love this.

    1. Hi, Kevin,
      Thanks for your comment. I am one of those types of people that would prefer to read a handbook and figure things out for myself and pass on trying to talk with someone. But if worse comes to worse, it’s never a bad idea to get in contact with a financial adviser who can point you in the right direction.

      1. I agree with Lauren, that sometimes we need to reach out. However, I also like to read from the comfort of my home and educate myself so I at least have a little foundation to build on.

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