For a Veteran in any stage of their Defence journey, becoming financially educated is an essential step in ensuring that your future is safeguarded and that you are given what you have earned in your service. Financial education involves learning how to manage personal finances, make informed financial decisions, and plan for the future, all of which are essential skills that are often overlooked as part of overall education.
Luckily, speaking with one of National Service Financial’s Military Specialist financial planners is the best way to ensure the security of your financial future. So how can becoming financially educated with National Service Financial benefit you?
Why Financial Education is Important
One of the key benefits of being financially educated is the ability to make informed financial decisions. With financial literacy, individuals can analyse different investment options, understand the implications of taking out defence home loans or using credit, and evaluate the potential risks and returns of various financial products.
Being financially educated can also help individuals avoid scams and frauds that can take advantage of financial ignorance.
This is even more significant when it comes to Veterans, as having a full grasp of exactly how financial support systems function and knowing what you are entitled to receive from the DVA is important. As veterans face many financial challenges, it is important to be appropriately financially educated.
By understanding personal finance and how their DVA benefits can be used, Veterans can develop healthy financial habits, such as budgeting, saving, and investing.
They can also create financial plans that align with their goals and aspirations and have a better understanding of the consequences of their financial decisions. Over time, these habits and decisions can lead to a more secure financial future, with less debt, greater financial stability, and more opportunities for financial growth and prosperity, which is what Veterans deserve after their period of service.
Most importantly though, becoming financially educated can improve mental and emotional well-being. Financial stress is a major source of anxiety and depression for many people, Veterans included. Lucking becoming financially educated can help provide the tools and knowledge necessary to manage and reduce this stress for those who need them, reducing the burden placed on Veterans’ backs and making life away from service more rich and rewarding.
That is why National Service Financial (NSF) is helping ADF personnel become financially educated. Having the right financial considerations if you are leaving the ADF or continuing in service is important.
We are committed to helping ex-service members create financial security and minimise the stress linked with the shift in their income. If you are a veteran transitioning away from full-time service and intending to live on a pension or DVA-provided compensation, we highly recommend seeking trusted financial advice for military personnel, checking FASEA for a Qualified Financial Planner, all of which are actions that National Service Financial can help with this.
The best thing about seeking help and becoming financially educated by National Service Financial is that it won’t cost a thing. With DVA and ADF Transitions allowances for financial advice for veterans entitled to a Special Rate Disability Payment (SRDP), medical discharge payouts, and other forms of compensation, you can become financially educated without worrying about out-of-pocket expenses.
As such, if you think that becoming financially educated is an important step for your future, then seeking qualified and specialised advice from National Service Financial is the best way to go about it.
Who We Are
What sets us apart from other financial advisers is that we have been where Veterans have been, so we talk from experience, not from textbooks. Established by a former member of the Royal Australian Navy, National Service Financial truly understands the unique needs of military personnel and veterans.
Founder and director Wayne; recognised the need for tailored financial advice for Defence personnel and veterans following his own medical discharge in 2017.
Seeing firsthand the challenges ex-military members face during their transition, he became determined to create a dedicated space for delivering financial advice to military personnel, paired with genuine and understanding care.
That space is National Service Financial, a company that values trust, integrity, and giving back to the Defence community by providing financial services and helping those in need become financially educated.
As leading and accredited financial advisers, we are bound by the ASIC Code of ethics and meet all obligations to ensure we are compliant within all ASIC regulations. This code ensures financial advisers set and maintain agreed professional standards, so you can trust that we always operate under ethical and fair business practices when giving financial advice and helping our clients become financially educated.
How We Can Help You
With the goal of creating a solid financial foundation for our veterans through genuine, skilled expertise that facilitates optimal financial independence post-service, we aim to financially educate all our clients and deliver a more holistic approach to financial advice. Utilising a trusted network of specialists, we can offer a wide range of support and education to our clients, thanks to our access to mortgage brokers, conveyancers, accountants and other financial planning services, along with various Ex-Service Organisations.
We offer education and support around various DVA approved payments, on top of general financial well-being advice and support. Our tailored advice for military personnel and veterans includes specific areas:
Medical Discharge
Our team deals with the entire picture when it comes to medical discharge. We have been through the process and understand how and at what time frames certain events should occur to keep your Medical Discharge on track. We also provide comprehensive financial advice for military personnel relating to any Permanent Impairment or disability payout that an ADF member may receive.
Special Rate Disability Pension
At no cost to the Veteran seeking to become financially educated regarding Special Rate Disability Pension, thanks to DVA cover, our financial advice and planning for veterans ensures they receive an appropriate ongoing source of income.
ADF Transition
Following retirement from the ADF, National Service Financial can provide financial advice and planning on what to do with any DVA or superannuation payouts and how to best utilise them during your transition from the ADF to civilian life. We can also help you better understand how to budget your DVA pension.
Whether you want to understand how MilitarySuper (MSBS) works in relation to your situation or any other super fund, we provide guidance and advice to help you make informed decisions. We always aim to help our clients become financially educated so that they can make important choices regarding their super, complying funds, and making claims through Med Access for Member and Ancillary Benefits.
Genuine, Caring and Personal Advice
Above everything else, though, we at National Service Financial aim to specialise in providing genuine, personal care and advice. We understand how stressful and overwhelming a departure from the ADF can be. Whether you’re retiring or medically discharging, ensuring you can cover your everyday costs is essential.
Our team at National Service Financial wants nothing more than to enhance our client’s financial education and prepare them for a secure and more certain future through expert financial advice and planning.
