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Objectives. We examined the empirical link between money mismanagement and subsequent homelessness among veterans.
Methods. We used a random sample of Iraq and Afghanistan War era veterans from the National Post-Deployment Adjustment Survey in 2009-2011.
Results. Veterans were randomly selected from a roster of all US military service members in Operation Iraqi Freedom or Operation Enduring Freedom who were separated from active duty or in the Reserves/National Guard. Veterans (n = 1090) from 50 states and all military branches completed 2 waves of data collection 1 year apart (79% retention rate). Thirty percent reported money mismanagement (e.g., bouncing or forging a check, going over one's credit limit, falling victim to a money scam in the pastyear). Multivariate analysis revealed money mismanagement (odds ratio [OR] =4.09, 95% Cl = 1.87, 8.94) was associated with homelessness in the next year, as were arrest history (OR = 2.65, 95% Cl = 1.33, 5.29), mental health diagnosis (OR = 2.59, 95% Cl = 1.26, 5.33), and income (OR = 0.30, 95% Cl = 0.13, 0.71).
Conclusions. Money mismanagement, reported by a substantial number of veterans, was related to a higher rate of subsequent homelessness. The findings have implications for policymakers and clinicians, suggesting that financial education programs offered by the US Departments of Defense and Veterans Affairs may be targeted to effectively address veteran homelessness. (Am J Public Health. 2013;103: S248-S254. doi:10.2105/AJPH.2013.301335)
Explaining the disproportionate number of vet- erans in the homeless population is a challenge that has stymied policymakers.1"6 Estimates have varied but have indicated that veterans constitute as much as 32% of the homeless population in the United States,3,5,7'8 though recent data have indicated that veterans make up approximately 16% of homeless adults at a given point in time.9 Because they make up about 10% of Hie general US population, vet- erans appear to be overrepresented in the homeless population.10 This revelation is not new, and for the past 20 years researchers have tried to pinpoint reasons for the high levels of veteran homelessness.4 Posttraumatic stress disorder (PTSD),11"13 depression,3,5 bipolar dis- order,8,14 alcohol and drug abuse,3,5,15,16 youn- ger age,9 and contact with the criminal justice system5,8,17,18 have each been identified as risk factors for homelessness among veterans.
With all these possible explanations, an occa- sionally overlooked...