Money Saving Tips For Spouses and Children Of Veterans

There are many different types of advice and money-saving tips for the spouses and children of veterans. But not all of them direct people to one of the most obvious sources of help available to those living stateside. Especially when the military spouse is deployed or assigned overseas.

What are these saving tips? For a start, it helps to create a personal and family budget before exploring these options. You want to know how any of these tips directly affect your financial bottom line, and if you don’t have a budget it is much harder to do that.

State Job Resources For Spouses And Children Of Military Veterans

The headline reads, “Money Saving Tips”, so why are we discussing job resources? Because many states have veteran preference programs for spouses who are trying to get licensure for skilled jobs and small businesses.

Any state that requires a license for jobs in HVAC, cosmetology, or any other “license required” profession may offer military spouses discounted or free accreditation/licensure depending on the state, the profession, and other variables.

Free Or Discounted Tuition For Spouses And Dependents At State-Supported Colleges

Many states offer military spouses or dependent children free or reduced tuition at state colleges. Some of these state programs, such as the one offered by the State of Kansas, requires the recipient of such benefits to be the spouse or child of a veteran who has died on active duty or as a result of military service. In the case of the Kansas program, state residency requirements also apply.

These programs can be found via your state Department of Veterans Affairs or State Division of Veterans Affairs official site.

Reduced or Waived Property Taxes

Military families who are state residents may be able to apply for waived property taxes (in whole or in part) due to their status as military members, or military dependents.

The rules for these tax exemptions vary from state to state. Let’s go back to our Kansas example. The program there is need-based, has a refund limit of $700, and there may be an income cap. These tax exemptions are commonly referred to as Homestead Tax Exemptions and you can Google the program in your state if one is offered..

How Military Spouses And Dependents Can Save Money On Education Using The GI Bill

The GI Bill used to be only for those in uniform. But with the passage of GI Bill program updates such as the Post 9/11 GI Bill and the Forever GI Bill, the ability to transfer education benefits (including a housing stipend) to spouses and dependents is more available than ever.

It’s possible in some cases to attend undergraduate or graduate-level classes at zero cost to the student. So transferring GI Bill education benefits to a dependent child or military spouse is definitely something worth looking into.