Finances and debt

It can be difficult transitioning out of the military, especially when it comes to money and budgeting.

Debt can be caused by a variety of life events such as:

  • Loss of employment
  • Having children, growing your family
  • Breakdown of your relationship
  • Child custody issues
  • Legal events such as an arrest

Financial difficulties and debt often have wider implications. It can lead to stress, anxiety and feelings of hopelessness. According to research undertaken at Nottingham University, there is a link between debt and depression.*

Financial difficulties can also affect your sleeping pattern and your ability to focus, which can impact your ability to work, further increasing your financial struggles.

Where to get financial advice and support

  • The Royal British Legion provide all kinds of financial advice. They have a team of financial advisers who you can call for advice and support.
    Freephone: 0808 802 8080 (8am–8pm, 7 days a week)
  • StepChange are a charity that provide free, expert debt advice.
    Debt advice number: 0800 138 1111 (Monday to Friday, 8am–8pm; Saturday 8am–4pm)
  • Citizens Advice provide financial advice and debt management information.
    Their chat service, where you can speak to a debt adviser online, is available Monday to Friday 8am–7pm
  • Veterans Gateway provide information and support for veterans and their families, including financial and money advice. They have useful information available online, as well as a helpline.
    Helpline: 08‍08 80‍2 12‍12 (24/7)