Veterans Day is November 11, and the veteran unemployment rate in the United States is 3.6 percent.
WalletHub released its report on 2023’s Best & Worst Places for Veterans to Live.
The report compares the 100 largest cities across 19 key metrics. Date includes the share of military skill-related jobs, housing affordability and the availability of Department of Veterans Affairs health facilities.
According to the personal finance website’s results of its 2023 Military Money Survey, 52 percent of Americans think inflation is hitting military families harder than civilians.
The best cities for veterans in the U.S. are Raleigh, N.C., Austin, Texas, Orlando, Tampa and Virginia Beach, Virginia.
According to the money survey, nearly two in three individuals think poor financial literacy among military personnel threatens national security. Sixty-five percent think the military does not do enough to teach financial literacy.
Seven in 10 military members think that joining the military is a good deal financially. More than two in three Americans think members of the military should not have to pay interest on debt or income taxes while deployed.
At least 44 percent of survey respondents are willing to put at least 10 percent of their income toward funding the U.S. military.
According to WalletHub analyst Cassandra Happe, various factors determine whether a city is good or bad for veterans, such as the quality of VA facilities and retirement friendliness.
“All cities should prioritize taking care of veterans’ needs, considering how much veterans have sacrificed to serve the country and keep it safe. However, 45 percent of military members think the U.S. does not care for its veterans financially. Some cities set aside an adequate amount of money for Veterans Affairs while others do not, either because they do not have enough of a budget or veterans aren’t prioritized. Even though cities have a responsibility to their veterans, the federal government is also responsible for them. We spend a massive amount of money on national defense and military operations, yet a comparatively small amount on helping veterans once their service is done. It is unacceptable that there are tens of thousands of homeless veterans; that number should be reduced to zero,” Happe said.
The financial stress on military families can be lessened by ensuring servicemembers in war zones do not have to worry about whether their family back home has basic living expenses. Happe said that effective financial education for military members would be helpful.
“Military families can undergo tremendous financial stress, especially when one parent is deployed and cannot help manage the family’s finances. On top of that, 52 percent of Americans think inflation is hitting military families harder than civilians, adding to their financial worries. Service members in combat situations also put their lives at risk every day, which could lead to even more of a financial burden on their families if they die or end up with a disability. The least we can do for our military families is to take care of their basic needs,” Happe said.
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Rebecca Barnabi
