Deployment can impact a household budget. Your pay could change, or you could incur some unexpected expenses. With the right information and a little extra effort, you can stay fiscally fit during deployment and stay in command of your household budget. Follow these tips to achieve financial stability and health even while you’re gone.
Budgeting and Saving
In the military, you learn to prepare for the future using the tools at your disposal. When it comes to saving money, the military provides several tools so you can build a secure financial future. The more money you save, the more prepared you will be for opportunities or unexpected events that come your way. You may want to buy a new car, help your children pay for college or start contributing to your retirement. Military OneSource provides the resources and information to help you master the skills of budgeting and saving so that you can build financial security.
Overseas or OCONUS permanent change of station orders can be exciting, especially if you’ve never been outside of the continental United States. The military can help you with the added costs of an international move and living expenses abroad.
As an active-duty service member, you receive many benefits and entitlements like free access to Military OneSource services and support. One of the primary benefits to working in the military is a steady paycheck and tax-free allowances. Here’s a summary of the different military pay elements you might see on your monthly Leave and Earnings Statement.
When you have a family member with special needs, financial planning is vital. Be prepared to take good care of your family member by tackling the money issues today.
Want to protect your hard-earned cash? Military discounts go a long way. Always ask retailers, restaurants, airlines, motels and other establishments, “Do you have a military discount?” Here are 25 other money-saving tips. Go ahead, wave your frugal flag.