VFEN Becomes First 501(c)(3) to Teach Financial Literacy to Veterans

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Veterans Financial Education Network (VFEN) announced today the launch of its non-profit organization dedicated to making veterans and service members more financially literate.

VFEN Founders Clayton Cohn and Tommy Crane

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"Regardless of what your job is, everyone is (or at least wants to be) in the business of making money..."

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VFEN is the first organization that teaches our nation’s heroes about the importance of personal financial management and even how to become savvy investors. Since public education does not place a heavy emphasis on finance, many of our nation’s youth are mismanaging their money.

"Regardless of what your job is, everyone is (or at least wants to be) in the business of making money, but once you make it, what then? What do you do with $20,000 when you’re a 19-year-old who has just returned from combat in Iraq and has never been taught anything about personal financial management? Sadly, you waste it." says Clayton Cohn, President of VFEN and OIF veteran.

VFEN is the veteran-targeted division of Playdoh Financial Education, Inc., a federal, tax-exempt 501(c)(3) corporation dedicated to the proliferation of financial awareness. All donations are 100% tax-deductible, and their efficiency rating is 100% meaning that every penny of every dollar donated goes directly towards educating veterans and service members. All ancillary expenses to the organization are paid for by outside businesses and individuals so that the coveted 100% efficiency rating can be maintained.

Teaching veterans about proper money-management techniques just scratches the surface of what VFEN offers. VFEN’s volunteer instructors, all of whom are certified as either Registered Investment Advisers or CPAs, give lectures and seminars to retired veterans, active-duty personnel and military families covering a multitude of subjects from cost-reduction to entrepreneurship, but VFEN’s latest venture is an 8-week financial “boot camp” designed to teach veterans how to make money in the financial markets.

The curriculum, developed by a combination of veterans, traders, and educators aims to teach veterans about finance from the ground up. It starts with basic economics, accounting and finance and concludes with a capstone in which every student evaluates, and is evaluated, on their abilities as a proprietary trader.

Another benefit of VFEN is that it is creating a network for all veterans who are interested in financial literacy to utilize. "We expect to become the de facto organization for all veterans and service members who want to, at the very least, ensure that their financial house is in order," added Cohn. The guise of the organization simply being: educate, create jobs, and provide a database from which to network from—at absolutely no charge to any vet. "With the current worldwide economic instability, it is no surprise that veterans do not know where to turn to. When you do not possess the knowledge to manage your money you have two choices. The first is to stay out of the market, miss opportunities and simply spend it. The second is to find a way to make your money work for you by either finding a money-manager who is both trustworthy and knows what he is doing or learning how to invest on your own," concluded Cohn.

About VFEN:
VFEN was founded by a group of Marine veterans who have found success in the financial world (after honorably concluding their tours of duty) by starting their own financial services firm, Marketaction, Inc. VFEN prides themselves on offering free financial services and education to all veterans, service members and their families, and also feel that maintaining a 100% efficiency rating is paramount given that the organization was created to teach financial literacy. They want people to know that every penny of every dollar donated goes directly towards teaching our nation’s heroes.

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Clayton Cohn
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