Ep. 15 The Military Wallet with Brittany Crocker

Welcome to the "Militarily Speaking" podcast with Tom McLean and Jodi Vickery.In this episode of “Militarily Speaking,” Tom, Jodi, and guest Brittany Crocker discuss The Military Wallet and Veteran.com. They dig into all the different financial education resources, discounts, and newsletters available through those sites.“Militarily Speaking” is a podcast produced by Armed Forces Bank that is dedicated to the military lifestyle and all the things that makes military community who they are. Ep. 15 — The Military Wallet with Brittany CrockerIntroducing Brittany Crocker, The Military Wallet and Veteran.comJodi gives a brief history of Brittany’s background, welcomes her to the show, and then asks her to give a bit of background on how and why The Military Wallet got started.Brittany discusses how the initial founder wanted to help people navigate the military’s finance and benefits systems.After joining the site, she has continued this mission by closely focusing on financial assistance for military members.She notes that she also manages veteran.com, that is more focused on military benefits such as VA home loans, disability benefits, military allowances, etc.Tom asks Brittany what is unique about the military community that requires specialized financial guidance.She talks briefly about her history serving, and recalls feeling lost while reading articles, noting that they were geared towards people that already had a certain level of financial literacy.She continues by saying her goal is to be that easy and understandable resource that she was looking for while in the service.Jodi notes that Veterans Day is coming up and asks for more details about the discount section of their website.Brittany says the easiest way to find a company is to search their name on their website.She adds that there is a newsletter and pdf guides that you can sign up to receive to keep track of Veterans Day discounts.Brittany adds that shopping local is still important, and to simply ask them if they have a military or veteran discount.Tom notes that Armed Forces Bank has begun their Days of Giving, where they give back to local food shelters and food security organizations near AFB locations.Financial Education and Financial Resources for the MilitaryTom asks Brittany for her top resources dedicated to financial education that she has found particularly helpful.She says that the number one resources is the Military Wallet’s Tax Guide that they publish every year.Her second resource is for people looking to buy or sell a home, and says that Veteran.com is full of information around VA Home Loan.Brittany says her last favorite piece is the article: Investment and Finance Rules for Security Clearance Holders, which talks about the unique financial rules related to those with security clearance.She adds that Veteran.com has a wealth of information on policies that affect military members, such as new BAH rates, military pay, etc.Tom briefly mentions how a number of veterans are still unbanked, and as they are looking for places to open an account or get a debit card or credit card, what information has she found that would be beneficial for the military community.Brittany says they examine what banks are competitive in this space, as well as robo-advisors.She recommends the reviews and roundups on the Military Wallet that discusses those services, cashback apps, credit cards, etc.She adds that last year a group of her friends came up with a holiday gift guide for military members.Retirement Accounts and Educational NewslettersJodi asks what information people can find about the savings plan on their websites.Brittany discusses what the Thrift Savings plan is, and further details about that program, noting that their website has many resources for both new investors, and those nearing retirement.Tom stresses how important education around these financial topics is for people of all ages, but especially those early on in their careers, as they might not see the immediate benefits.Brittany talks about her multiple retirement accounts, and how she balances her TSP account and her civilian retirement accounts.Tom asks Brittany what people can expect if they sign up for the Military Wallet’s newsletter.Brittany says it is a curated monthly news that talks about new content, new military benefits and discounts, as well as a personal letter from her.She says that there are also weekly newsletters that are primarily focused on discounts for military members.Military MinuteJodi introduces the Military Minute segment of the show, beginning by closing out last episode’s Military Minute.Last episode’s Military Minute: Does AFI insure classic and antique cars?Answer: YesThis week’s Military Minute question: How many types of Thrift Savings contributions are there?Watch for Facebook and Instagram posts about this episode.Answer with the correct answer and you plus a charity of your choice can each win $50.Tom closes the episode by asking listeners to out to www.afbank.com and subscribe to the show, as well as leave a rating and comment on your favorite podcast platform such as Apple Podcasts or Spotify. Join us to hear how to better navigate your finances, military life, and the crossroads of the two.Visit www.afbank.com