Abstract: In 2014, 46.7 million Americans – 14 percent of the population – were living in poverty. Every day millions of Americans are forced to make tough choices based on their financial situation. Currently, one in three Americans report having no savings at all and 41 percent do not have enough to cover a $2,000 emergency expense. While the poverty rate for veterans is lower than the national average, deployment impacts military families in all aspects of life, including finances. Other aspects of military life such as unexpected moves, discontinuity of spousal employment, and transitioning to the civilian workforce also affect the financial stability of service members and veterans. Based on recent research, this report provides an overview of the current fi nancial state of service members and veterans, highlights the implications for practice, and identifies existing resources to help veterans improve their financial situation.