18 Money-Saving Tips for Veterans and Service Members

Have you ever needed to “find money?” 

As you consider your savings goals and assess your current financial landscape, it may be necessary to get a little creative to achieve the financial stability you envision. 

We’ve compiled a list of 18 ways that Veterans, service members, and their families can save money. 

1. Explore Available Discounts: Many discounts are available to Veterans and service members across various sectors, including retail, automotive, travel, and entertainment. Always inquire if a business offers a discount for military personnel.  
2. Use Veteran Benefits: Explore benefits through the VA, including healthcare, education, and housing assistance. VA healthcare is often free or at a low cost for eligible veterans, and VA home loans can help veterans buy homes with no down payment. Additionally, the Veterans Benefits Banking Program (VBBP) partners with financial institutions to provide veterans with access to banking services, financial education, and resources to help them manage their benefits more effectively. For more information, visit the Veterans Benefits Banking Program. 
3. Explore Education Benefits: Take advantage of the GI Bill, which can cover tuition and fees. Programs like Scholarships for Military Children, run by the Defense Commissary Agency, provides scholarships to children of active-duty, reserve/guard, or retired military personnel.
4. Utilize Commissaries and Exchanges: Shop at military commissaries for groceries and exchanges for household items, often at reduced prices. The savings at these stores can be substantial compared to civilian grocery stores. 
5. Participate in Free Events: Many places offer free admission to veterans. The America the Beautiful Pass provides free access to national parks for Veterans and Gold Star families. 
6. Plan Family Activities at Home: Organize family game nights, movie marathons, or potluck dinners instead of dining out or going to costly attractions. This can be a fun and cost-effective way to spend time together. 
7. DIY Projects: Tackle home improvement or crafting projects on your own instead of hiring professionals. Online tutorials on platforms like YouTube can provide guidance and help save on costs. 
8. Gardening: Start a small garden to grow your own fruits and vegetables. This can reduce grocery bills and provide fresh produce right from your backyard!
9. Use Coupons and Cashback Apps: Apps like Honey or Rakuten offer cashback on everyday purchases. Military-specific discount programs such as GovX provide exclusive deals for current and former service members. 
10. Meal Planning: Plan meals for the week to reduce food waste and avoid impulsive buying. Batch cooking and meal prepping can also save time and money!
11. Public Transportation: Use public transportation if your lifestyle and situation allow it. Many public transportation systems in major cities offer military discounts for service members and Veterans. 
12. Home Energy Efficiency: Make your home more energy-efficient by sealing drafts, using LED bulbs, and unplugging devices when not in use. These small changes can lead to significant savings on energy bills. 
13. Negotiate Bills: Contact service providers (internet, cable, etc.) to negotiate bills or switch to a plan that better fits your budget. Often, companies will offer discounts or lower rates to retain customers. 
14. Add Additional Income: Consider flexible part-time or freelance work that fit around your schedule, if your current situation allows.. Websites like Upwork or Fiverr offer freelance gigs that are flexible, and can be managed via smartphone, making it easy to sign up and start earning. 
15. Family Swap Events: Host or attend clothing and toy swap events with friends, family, or neighbors to refresh wardrobes and toys without spending money. 
16. Use Free Online Courses: Take advantage of free online courses to develop new skills or hobbies. Programs like NPower, FedVTE, and USO Pathfinder® Transition Program offer free IT and cybersecurity training specifically for veterans. Coursera also provides access to various courses at no cost for military members and Veterans. 
17. Rent Instead of Buy: For items used infrequently (like tools or camping gear), consider renting instead of buying. This can save money and reduce clutter. 
18. Plan Travel Carefully: Use travel rewards points, consider off-peak times for vacations, and look for military or veteran travel discounts. 

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Looking for more tips, resources, and accountability to help you along your savings journey? 

Let Veteran Saves help you reach your savings goals! It all starts when you make a commitment to yourself to save. Take the Veteran Saves Pledge and commit to save money, reduce debt, and build wealth over time.