Veterans Day savings go way beyond a free burger at a chain restaurant. A smart, year-round approach to your benefits and finances can save you real money and improve your family’s well-being. This guide lays out how to actually use your benefits to get the most out of them.
Key Takeaways
- Get verified on ID.me and VetRewards now so you can access more discounts than just the one-off Veterans Day deals.
- Using your VA home loan to refinance or buy can save you thousands in interest and fees, even when market rates seem high.
- Check your state’s veteran property tax exemptions. Applying for them can cut your annual housing bill by hundreds of dollars.
- Your DD Form 214 is the key to everything, so make sure you have it and it’s correct to access all your entitled benefits.
- Don’t forget about your GI Bill benefits, using them for yourself or your family provides huge financial relief for college tuition and living costs.
1. Get Your Veteran Verification Set Up Early
Tons of businesses offer veteran discounts all year, not just on the holiday. The trick is having proof of service they’ll actually accept. Your physical military ID won’t always cut it, but digital verification platforms are almost universally accepted. The best one out there is ID.me. It’s a secure platform that partners with retailers, government agencies, you name it, to verify your status. Just go to ID.me, click “Verify with ID.me,” and upload a document like your DD Form 214, VHIC, or military ID. It usually only takes a few minutes. Once you’re verified, your account is basically a digital pass to prove you’re a vet at online stores and in person. Another solid option is the Veterans Advantage’s VetRewards Card. Yes, there’s a membership fee, but it gets you exclusive discounts on travel and retail that you won’t find anywhere else. A 2023 survey from Veterans Advantage showed members were saving big, especially on travel. You’ll need to show proof of service on their site, Veterans Advantage, to enroll. I’ve personally seen the VetRewards card work at places like Amtrak or CVS when a regular military ID didn’t meet the requirements for their loyalty programs. Pro Tip: Don’t wait until November to do this. Get your credentials set up now. You’ll be ready to jump on deals as they pop up instead of scrambling and missing out.
2. Get the Most Out of Your VA Home Loan
The VA home loan is one of the best financial tools you have as a veteran, and it’s for more than just buying your first house. While many vets use it for that initial no-down-payment purchase, a lot of people sleep on the refinancing options. The Interest Rate Reduction Refinance Loan (IRRRL), or “simplify” refi, lets you refinance an existing VA loan to get a lower rate or switch from an adjustable-rate to a fixed-rate mortgage. The process requires very little paperwork and often skips the appraisal or credit underwriting. Dropping your interest rate by just half a percentage point can save you thousands over the life of a 30-year loan. For example, on a $300,000 mortgage, going from 6.5% to 6.0% could save you over $10,000 in interest in the first ten years alone if you just keep making your payments. There’s also the Cash-Out Refinance. This lets you pull cash from your home’s equity by getting a new, larger mortgage. You can use that cash for anything, debt consolidation, home repairs, college tuition. The VA typically lets you borrow up to 90% of your home’s appraised value. You’ve got to weigh the lower interest rate against the closing costs, which are usually 2% to 5% of the loan. But many lenders will offer “no-cost” IRRRLs where they roll the costs into the loan or give you a slightly higher rate to cover them. Common Mistake: Thinking your current interest rate is “good enough.” The market is always changing, and a rate that seemed great two years ago might be way higher than what you could get today. Always check the current VA loan rates from a few different VA-approved lenders.
Veteran homeowners. Want to lower your monthly payments?
See if a VA Cash Out Loan or VA Home Loan can put cash in your pocket or help you buy with $0 down. A specialist will review your options, free.
- VA Cash Out Loan: use up to 100% of your home’s equity
- VA Home Loan: buy a home with $0 down payment
- No cost, no obligation eligibility check
You’re all set.
A VA loan specialist will reach out shortly to review your Home Loan and Cash Out options.
3. Dig Into State-Specific Property Tax Exemptions
The VA handles federal benefits, but your state and even your local town offer extra financial help for vets, especially with property taxes. These exemptions can seriously lower your annual housing bill. In Georgia, for instance, a disabled veteran might get a property tax exemption on their primary home. According to the Georgia Department of Revenue, a vet with a 100% service-connected disability (or paid at the 100% rate for unemployability) or who received a VA grant for a specially adapted home is exempt from property taxes up to a certain home value. That exemption amount, which changes yearly, usually covers a big chunk of a home’s value. You have to apply for it at your county tax assessor’s office with your VA disability letter and DD 214. California has a similar Veterans’ Exemption that can cut the assessed value of your home by a set amount, saving qualified vets or their unmarried spouses hundreds of dollars a year. You have to know about these local rules. I always tell vets to call their county tax assessor’s office and ask what’s available and how to apply. These benefits aren’t automatic. Vets have to proactively go after them. Pro Tip: Look for the smaller, less-advertised exemptions too. Some counties offer extra breaks for surviving spouses or vets from specific conflicts. A five-minute call to your local assessor can uncover these hidden savings.
4. Use Your Education Benefits for Yourself or Your Kids
The Post-9/11 GI Bill (Chapter 33) is an amazing educational benefit, but people often don’t use it to its full potential. This thing can cover tuition and fees, plus give you a housing allowance and a stipend for books. If you haven’t used all of it, think about going back to school or getting some vocational training. The job market is always changing, so getting a new certification or even a full degree can open up better career options. You can find all the details on eligibility and how to apply on the VA’s official GI Bill website. Their “GI Bill Comparison Tool” is great for researching schools and seeing what your benefits will cover. Here’s the big one: if you’ve served at least six years and agree to serve four more, you might be able to transfer your unused GI Bill benefits to your spouse or kids. This is a massive financial gift for a family, potentially wiping out the need for student loans for college. The transfer has to be done through the Department of Defense’s milConnect portal, and it requires some careful planning with your service branch. Common Mistake: Letting your GI Bill expire. For most vets, Post-9/11 benefits expire 15 years after you get out, although the “Forever GI Bill” removed that time limit for those who separated after January 1, 2013. Don’t let this money go to waste.
5. Make the Most of Healthcare and Wellness Resources
The VA offers a lot more than just direct medical care. There are tons of wellness programs and discounts that many vets don’t even know about. These can save you a lot of money on health expenses. The VA’s complete healthcare system gives you everything from primary care and mental health services to specialized treatment. Getting enrolled is usually simple, and if you have any copayments, they’re often way lower than what you’d pay with private insurance. Go to the VA’s healthcare application portal to check your eligibility and apply. Even if you already have private insurance, VA healthcare can be a great supplement, especially for any service-connected issues. A lot of gyms and wellness companies offer veteran discounts too. It’s not a federal rule, but it’s common practice. For example, some YMCA locations, like the one near Peachtree City in Georgia, have discounted memberships for vets. You just have to ask. The VA also partners with community groups for things like adaptive sports, nutrition counseling, and stress management workshops, all of which keep you healthy and can prevent bigger medical bills down the road. Editorial Aside: Healthcare is complicated, and working through the VA can feel intimidating. I’ve heard from too many vets who gave up on getting care because the paperwork looked like too much of a hassle. In my experience, persistence pays off. Find a local Veteran Service Officer (VSO) at the American Legion or VFW. They’re experts at cutting through the red tape and are the best advocates you can have.
6. Tap Into Veteran Employment and Entrepreneurial Programs
Some of the best “savings” you can get are actually career boosts with long-term financial payoffs. The support available for veteran employment and entrepreneurship can seriously increase your earning potential. The Department of Labor’s VETS program has a ton of resources, from help with your job search to resume writing workshops. Your state workforce agency, like the Georgia Department of Labor, will have dedicated vet reps who can connect you with employers looking to hire veterans. They can also point you to certifications and training that your GI Bill will pay for, giving you free career advancement. If you’re thinking of starting your own business, the Small Business Administration (SBA) runs programs like Boots to Business (B2B), a training course that walks you through the basics of business ownership. The SBA’s Office of Veterans Business Development can also hook you up with mentors, funding, and government contracting preferences. These resources can save aspiring veteran entrepreneurs a boatload of time and money by showing them how to navigate the startup process. Getting the most out of Veterans Day means thinking bigger than just a single day of discounts. It’s about having a year-round plan to use your benefits, manage your finances, and invest in yourself.
What’s a DD Form 214 and why do I need it?
The DD Form 214, or Certificate of Release or Discharge from Active Duty, is the single most important piece of paper you get when you leave the military. It’s your official proof of service and lists your dates of service, awards, and the character of your discharge. You’ll need it to get just about any veteran benefit out there, including VA home loans, education benefits, healthcare, and state discounts.
Can I still transfer my GI Bill to my kids after I’ve left the service?
Generally, no. To transfer your Post-9/11 GI Bill benefits, you have to be on active duty or in the selected reserve, have at least six years of service, and commit to another four. You have to make the transfer request through the DoD’s milConnect portal while you’re still in. If you got the transfer approved while serving, your spouse or kids can use the benefits even after you’ve separated.
Does every state have property tax exemptions for veterans?
Most states do, but not all. They usually offer some kind of property tax break or credit for veterans, especially for those with service-connected disabilities. But the rules, amounts, and how you apply are completely different from state to state and even county to county. You absolutely have to call your local county tax assessor’s office or state Department of Revenue to find out what you’re eligible for.
What’s the difference between a VA IRRRL and a Cash-Out Refinance?
An IRRRL (Interest Rate Reduction Refinance Loan) is for refinancing an existing VA loan into a new one with a lower interest rate, or to switch from an adjustable to a fixed rate. It’s simple and has less paperwork. A Cash-Out Refinance is different. It lets you replace your current mortgage (which can be a VA loan or not) with a new, larger VA loan and pocket the difference in cash. It’s good for home improvements or paying off debt but requires more underwriting and an appraisal.
How do I find a Veteran Service Officer (VSO) to help me?
VSOs are trained pros who help vets and their families with VA benefits for free. The best way to find one is through organizations like the American Legion, Veterans of Foreign Wars (VFW), and Disabled American Veterans (DAV). You can also check with your state’s Department of Veterans Affairs. They are invaluable for helping you file claims and understand all the resources available to you.
