-
MilLife Topics
- Military Basics
- Deployment
- Transitioning & Retiring
- Casualty Assistance
- Moving & PCS
- Housing & Living
- Recreation, Travel & Shopping
- Relationships
- Parenting
- Special Needs
- Health & Wellness
- Safety From Violence & Abuse
- Financial & Legal
- Education & Employment
- I am a…
- Benefits & Resources
- Benefits
- Back to Menu
- View Benefits Finder
- View Benefits Finder
- Moving
- Military OneSource Services
- Planning & Prevention
- Discounts & Perks
- Pay & Leave
- Education & Employment
- Recreation
- Family & Child Care
- Relationships
- Health Care & Emotional Well-being
- Retirement
- Assistance Programs
- Housing
- Shopping
- Legal
- Travel
- Popular Benefits
- MilTax
- Space-A Travel
- DOD MWR Libraries
- Resources
- Back to Menu
- View Resources Finder
- View Resources Finder
- MilLife Guides
- Military OneSource Network Websites
- Podcasts
- Government Websites
- Webinars
- External Websites
- Directories & Tools
- Online Learning
- Mobile Apps
- Popular Resources
- MilitaryINSTALLATIONS
- Plan My Move
- Moving Personal Property
- DPS Login
- Other Resources
- Data, Research & Statistics
- Products
- Back to Menu
- View Products Finder
- View Products Finder
- Popular Product Types
- Book/Booklets
- Fact Sheets
- Brochures
- Flyers
- Educational Items
- Posters
- Popular Products
- 5 Ways to Help a Friend Who’s Experiencing Domestic Abuse
- Creating Calm in 5, 4, 3, 2, 1: Kids Book
- Non-medical Counseling Flyer
- A Survivor’s Guide to Benefits Booklet
- Non-medical Counseling Fact Sheet
- MFLC Program Brochure: Child & Youth
- Confidential Help
24/7/365 Access to Support
No matter where you serve or live, free and confidential help is available.
- In Crisis?
- Veterans/Military Crisis Line
- Back to Menu
- Veterans/Military Crisis Line
- PhoneLive ChatInternationalWebsite
Dial 988 then press 1 or text 838255
- National Domestic Violence Hotline
- Back to Menu
- National Domestic Violence Hotline
- PhoneLive ChatText
Call 800-799-SAFE (7233)
Text “START” to 88788
- DOD Safe Helpline - Sexual Assault Support
- Back to Menu
- DOD Safe Helpline - Sexual Assault Support
- PhoneLive ChatWebsite
Call 877-995-5247
- 988 Suicide & Crisis Lifeline
- Back to Menu
- 988 Suicide & Crisis Lifeline
- PhoneLive ChatTTY
Call 988
Use your preferred relay service, or dial 711 then 988
- Domestic Abuse Victim Advocate Locator - Family Advocacy Program
- Back to Menu
- Domestic Abuse Victim Advocate Locator - Family Advocacy Program
- Interactive Tool
In the United States, call 911 if you are in an emergency.
For those outside the United States, call your local emergency number.
- 800-342-9647
- Call Us OCONUS
- Call Us TTY/TDD
- Live Chat
- About Us
- Browse By Program/Office
- Casualty & Mortuary Affairs
- Child & Youth Advocacy
- Child & Youth Programs
- Commissary, Military Exchange & Lodging
- Family Advocacy Program
- Military Community Support Programs
- Military & Family Life Counseling
- Military Family Readiness Programs
- Military Funeral Honors
- Morale, Welfare & Recreation (MWR)
- Office of Special Needs
- Personnel Accountability & Evacuations Operations
- Spouse Education & Career Opportunities
-
Contact Military OneSource
Information and support for service members and their families. About the Call Center.
- 800-342-9647
- Call Us OCONUS
- Call Us TTY/TDD
- Additional Ways to Contact Us
ARTICLEFour Money-Management Reminders To Share With Your Service Member
4 minute read • March 1, 2024For your service member, being in the military may mean having a steady paycheck for the first time. However, they may need some help when it comes to budgeting and spending wisely. You can help them get on firm financial ground by sharing these four money-management tips.
1. Set up a monthly budget. Your loved one receives a set amount of income each month, and they need to be sure it can cover their bills and expenses.
They should make a list of their monthly expenses — such as rent, car insurance, cell phone, clothing and groceries — and then compare those expenses to their monthly income. This will determine how much they need to set aside for bills each month, and how much will be left over.
Here are some other budgeting tips:
- Create an emergency fund for unexpected expenses, such as when their car breaks down or for replacing a lost cell phone. They can choose a specific day and number of dollars to contribute monthly to their emergency fund.
- Set aside a certain amount of “fun money” every month and use it to pay for things like entertainment and eating out.
2. When buying a car, consider buying “used.” A shiny new car is nice, but the monthly payments and insurance may put a strain on their finances. A used and affordable car could more comfortably fit within their budget. Some additional car buying tips:
- Save a bit of money to make a down payment, which can lower the monthly payment.
- Shop around for an auto loan and insurance to make sure they are getting a good deal.
- Avoid add-on products like service contracts, window etching, and tire, dent and paint protection packages — they increase payments.
3. Bonuses: Spend some, save some. Enlistment bonuses and other special pay can amount to thousands of dollars, and it may be tempting for your service member to use it all on dream or impulse buys.
Help them make the most of it by encouraging them to divide it — use part for something special and the rest to improve their financial standing by building up their emergency fund, paying down debt or contributing to their Thrift Savings Plan.
4. Limit the use of credit. Using credit cards is one way to build a credit history, which is important for buying a home or taking out a loan. However, misusing credit can lead to mounting debt. Encourage your service member to use credit responsibly, for convenience — not as a lifestyle.
Also let them know that paying off cards quickly to prevent a growing balance can help them avoid paying even more in interest. Other tips:
- Shop around to find the credit card with the lowest interest rate and with no annual fee.
- Look for cards that offer low introductory interest rates or allow users to transfer balances from high-interest cards at 0% interest. (Military credit cards, such as the MILITARY STAR card offers a low interest rate, no annual fees, no late or over-limit fees, and can be used at commissaries and exchanges around the world.)
Finally, your service member can learn the fundamentals of money management by taking the Finance courses. These free courses were developed for service members by financial experts who understand the military. They cover consumer credit, creating smart financial goals, setting a realistic spending plan, making smart money moves, negotiating when buying a car and avoiding debt during a PCS.
Learn about military bases worldwide. Get installation overviews, check-in procedures, housing, neighborhood information, contacts for programs and services, photos and more.
Release 5.24.19aYour session will expire in 5 minutes.Click "Extend" below to stay logged in.
This site is for testing purposes only.If you are part of the general public, navigate to the public site. This site is solely for testing and approving site pages before they are released to the general public.