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Managing debt is a crucial part of financial responsibility. Too much debt can negatively impact your financial health and affect your credit score, making it difficult for you to make purchases in the future. Military OneSource provides smart strategies for recognizing the difference between good debt and bad debt, paying down your bills, reducing your dependency on credit cards and taking control of your personal finances.

Create a realistic budget

Creating a practical budget involves several steps, including writing down how much you owe, working to pay off certain debts first, calculating how much money you have coming in each month and identifying financial priorities. Military OneSource information, resources and consultations can help you create a realistic budget.

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Military OneSource provides counseling to help you manage your finances.

Prioritize your discretionary items

Using the guidance of your budget, determine how much of your discretionary income you should put toward paying off your debt and how much you can still afford to spend on things you want but don’t need. You’ll find helpful information and resources to do so.


Run the numbers

When making important financial decisions, whether buying a home or saving for college, it helps to first run the numbers. Use Military OneSource’s financial calculators to figure out how to save more, borrow wisely, pay down debt and take control of your finances. These calculators can help you decide what kind of car you can afford and how to pay for major purchases, work out a plan for paying off credit cards, and estimate how much you need to set aside each month for college.

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