Commissioner Rothman encourages military families to defend their financial futures

This week, America celebrated Military Saves Week – a week-long campaign focused on encouraging the men and women of our armed forces to learn more about their finances, take full advantage of military benefits, and avoid financial fraud that targets military servicemembers.

In recognition of Military Saves Week, the Minnesota Department of Commerce launched a new section of our website dedicated exclusively to providing financial tips and tools for military servicemembers, veterans, and their families. Knowledge is power, and oftentimes information is the best defense for the financial wellbeing of any family – including military families.

At the Department of Commerce, we know the stresses of deployment can have a significant impact on the budgets of military personnel and their families. With a long list of uncertainties to navigate, it is essential for military servicemembers to utilize all available resources to make informed financial decisions before, and after deployment. That’s what this effort is all about.

New content posted on the Commerce Department website this week outlines helpful saving strategies for military families, advice for buying or selling a home, helpful tax tips, warnings on how to avoid financial scams that target the military, and more. Specifically, members of the military, veterans, and their families can find useful information in the following areas:

• Saving Strategies for Military Families - Learn more about how to invest in your future

• Financial Fraud - How to protect you and your family from scams and financial fraudsters that target military personnel and their families

• Your Military Benefits - Learn more about how to take full advantage of your military benefits

• Be Prepared - Financial strategies to follow before and after deployment

• Taxes - Minnesota-specific tax information for military servicemembers and their families

• Real Estate - Use these tips and resources when thinking about buying or selling your home

• Transition - Making the transition to life after deployment can be challenging; follow these tips to make informed financial decisions

• Links - These links will connect you and your family to a host of programs and services that help military families achieve financial security

• Financial Field Manual - Organize your finances with these financial tips and tools for military personnel and their families

In addition, the Minnesota Department of Commerce has partnered with the Minnesota Department of Military Affairs and the Investor Protection Trust (IPT) to distribute 5,000 free Financial Field Manuals to military servicemembers and their families statewide.

In the months ahead, the Commerce Department will continue developing financial tips and tools for Minnesota consumers of all life stages – from Kindergarten to retirement. Continue checking our website for helpful information and financial guidance for you and your family.