BBB Helps Veterans Make Smart Money Decisions
Service members and their families face unique financial challenges, and the Wisconsin Better Business Bureau is here to help. But there are also unique resources to protect their finances and their rights. Jim Temmer, President of WI BBB, joined us live on the CBS 58 News at 4 to talk about Military Line, a resource for veterans.
"The BBB is proud to work with the Department of Defense on the financial readiness campaign, we're a partner of theirs," Temmer said. "We offer consumer education and advocacy for veterans, for active military and their families."
Temmer outlined a number of scams making the rounds that target active military members. Since many are forced to move around the country, one scam asks for a wired money deposit for an apartment or home that isn't there. Another scam calls the home of an active duty member, and pretends that there is a warrant for their arrest because they missed jury duty-- then asks for credit card information to pay a fine and make the warrant go away.
But the website isn't just about avoiding scams, the website also helps veterans make good decisions. For example, the website lists the 10 Best Military Banks to put your money in. "You can look at how to buy a home, how to buy a car, how to talk to your kids about finances," Temmer said.
Vets can also sign up for a monthly financial e-newsletter
To take a look at all the resources the BBB has available, click here.
Here is the news release from the BBB about Military Line:
BBB Military Line® is a uniquely tailored program for military consumers and their families located within BBB Institute for Marketplace Trust, the education foundation of the Council of Better Business Bureaus (CBBB). Its mission is to bring consumer education, BBB services, and advocacy to a population that is known to be targeted by scams and unethical business practices. This program encourages the military consumer to use BBB consumer education materials, business reviews, and dispute resolution services. While BBB services and educational resources are provided online, most local outreach is performed by individual BBBs across the U.S. — who teach financial readiness workshops, support local community events, and actively engage military consumers within their respective service areas.
Financial education workshops available through local participating BBBs are:
· How to be a Smart Consumer
· Deals for Wheels
· How to Buy a Home
· Investing for Retirement
· Scams and ID Theft
· Smart Investing
· Investing in Higher Education