Wounded Warrior Project and USAA Educational Foundation Help Veterans Achieve Financial Freedom

Empowerment Grant Program Empowers Warriors with Money Management Skills

For many veterans, leaving the military comes with big adjustments – new routines, new jobs, and new approaches to managing money and navigating personal finances.

Wounded Warrior Project^® (WWP) is helping veterans better prepare for their financial future through an empowerment grant designed to build financial confidence and reduce financial stress. With support from the USAA Educational Foundation (USAAEF), this grant allows warriors to improve their financial skills in a timeframe that works for them.

Army veteran Preston Jackson was dealing with a few financial challenges, especially after being diagnosed with cancer and having to stop working to undergo treatment. As the first graduate of WWP’s empowerment grant program, Preston was able to build a financial plan that works for him and re-evaluate how he thinks about spending.

“The [Warrior Financial Empowerment] course made me realize how important paying attention to details is, especially in your finances,” Preston said. “The old saying of you can give a man a fish, and he eats today, or you can teach a man to fish, and he eats for a lifetime is how I see this course affecting my life from this point forward.”

Expanding Financial Education with New Tools and Support 

Transitioning from military service to the civilian world can bring about financial changes for many veterans, including a reduction in income, higher housing expenses, and additional health care costs.

According to WWP’s most recent Warrior Survey,* 67% of warriors struggled to make ends meet in the past year. More than 9 in 10 warriors (93%) reported having outstanding debt other than a mortgage, and of those, 75% reported that their debts felt unmanageable. Providing veterans with financial education and resources is essential for ensuring independence, stability, and total well-being.

WWP’s empowerment grant, launched in October 2024, builds on the expertise of the Financial Readiness program, which equips veterans and their families with money management skills at no cost.

The initiative reaches warriors unable to commit to the longer-term financial education program. USAAEF provides an interactive, self-sufficient online portal that allows warriors to complete financial education courses at their own pace.

“A lot of money lessons we learn in life are caught, not taught, so the Warrior Financial Empowerment course gives warriors the chance to rewrite their financial story – with strength, clarity, and hope for what comes next,” said Steve Georgoulakis, CFP^®, Product Management Director for USAAEF.

The education courses consist of quizzes and practical tools to help veterans strengthen their financial plan. Warriors have up to 60 days to complete the training. Upon completion, WWP provides the warrior with a monetary grant. 

“This was a way of getting them some financial education that fits into their schedule and providing them with a grant at the end of it that they could put toward an emergency savings account or pay off some debts,” said Deborah Holmes, WWP Financial Readiness manager.

Taking Control of How You Spend Your Money

Preston’s commitment to helping others took a toll on his finances. While battling cancer and other service-connected injuries, Preston also provided financial support to friends and family whenever they asked. Eventually, the strain caught up with him—bill collectors began calling, and he knew it was time to get his finances in order.

Through the educational component of the empowerment grant initiative, Preston learned the importance of budgeting and saving for a rainy day, as well as tips about investing. He completed the coursework in just a few days.

“I’m in a better place as far as finances now, so I appreciate the classes,” Preston said. “A big thing is learning what you need in your life and what you don’t.”

Preston now routinely thinks through his financial decisions, knows when to say no if he can’t afford something, and prioritizes where his money goes. He also suggests researching your options for things like selecting a credit card to ensure you’re getting the best rates and benefits. Reducing the stress of his financial worries has improved his overall well-being.

“It’s been better for me because now I don’t have to burden myself with those thought processes,” Preston said. “Being able to think about something else allows you to grow in other areas. We get so used to doing the same thing and expecting something different, and then we wonder why we’re still struggling.”

Support Every Step of the Way

The empowerment grant initiative is open to all warriors registered with WWP.

“This particular grant isn’t meant for those in a financial emergency crisis,” Deborah said. “It’s meant to empower [veterans] to get ahead and make the right choices with their money, and that comes with education.”

After completing the empowerment grant training courses, warriors can continue with WWP’s Financial Readiness program to reinforce their learning and stay on track with their financial goals.

“It's a pretty seamless process,” Deborah said. “They won't have to do anything; they just have to let us know that that's what they want to do, and we'll get them connected.”

Through WWP’s Financial Readiness program, warriors can receive one-on-one counseling to plan for their needs and situations.

“We really want warriors to know this is a judgment-free zone and that we’re just here to support them,” Deborah said. “We don’t make the decisions for them, but we give them strategies and let them know what their options are so they can decide what’s best for their household.”

For Preston, the training he received empowered him to make more informed financial decisions and better prepare him to navigate financial issues that may arise.

“I appreciate the opportunity to take back control of my life with a simple course in financial awareness,” Preston said. “I believe this course should be available to all veterans as they’re leaving the military. I respect how Wounded Warrior Project is leading the way by supporting veterans in every aspect of their lives.”

*Warrior Survey, Wave 3 (conducted May 25-Aug.1, 2023)

Join Wounded Warrior Project to Benefit from WWP’s Programs and Services.

Contact: Paris Moulden/Gracie Scribner, Public Relations, pmoulden@woundedwarriorproject.org, 904.570.7910;  gscribner@woundedwarriorproject.org, 904.489.5295

 About Wounded Warrior Project 

Since 2003, Wounded Warrior Project^® (WWP) has been meeting the growing needs of warriors, their families, and caregivers — helping them achieve their highest ambition. Learn more about Wounded Warrior Project.  

About The USAA Educational Foundation 

Since 1986, The USAA Educational Foundation, headquartered in San Antonio, Texas, has served the military community by helping service members and their families become informed financial decision-makers through every life stage. The free, simple-to-navigate financial education available on their website, www.usaaef.org is tailored for the military community, enabling service members and their families to understand essential financial concepts through a library of educational videos, interactive calculators, and downloadable worksheets.