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.
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.
The military is an honorable way for patriotic men and women to both serve their country and pursue a career. When it comes to education and career benefits, the military takes care of service members during, and after, their service. Of course, the military itself can be a rewarding career choice. But if they decide to move on, service members can access many tools, resources and benefits to successfully transition into civilian careers.
The Department of Defense’s Military In Lasting Tribute memorial honors and remembers service members who died while serving honorably on active duty from 1985 to the present. It is the only DOD memorial to include peacetime deaths.
As a member of your service member’s support network, you may have heard the good news that both active duty and reserve military personnel received a 3.1% military pay raise in 2020 – among the biggest in a decade. Beyond the salary bump, you’ll be glad to know that your loved one has several ways to be financially fit.
Like a coin, there are two sides of your military paycheck. There’s what goes into your paycheck — basic pay, allowances and special and incentive pays — and there is what comes out.
We’ve got some tips on how you can make the most of your basic pay — from the most important parts of your actual pay stub to picking the right bank account, to even getting a “raise” by increasing your Thrift Savings Plan contributions.
You can get a solid estimate in less than five minutes using free retirement pension calculators for both the High-36 and Final Pay legacy retirement systems offered by the Department of Defense. Here’s how to use them – and what you can do to adjust the outcomes to fund your future retirement lifestyle.
The Uniformed Services Former Spouse Protection Act is a federal law that provides certain benefits to former spouses of military members.
The military recently adopted a new retirement plan called the Blended Retirement System which extends benefits to a lot more service members than the old plan. The good news: the BRS can put your service member on the path to long-term financial security. And, the more a service member contributes to their own retirement, the more the Department of Defense matches it.
Your monthly Leave and Earnings Statement, or LES, is one of the most important financial documents you have for mastering your money and achieving your financial goals. Here’s how to decipher the code.
The stripes and bars on a military uniform signify rank. If you’re new to the military, you know enough to understand that rank matters.
As a service member, you’ve earned financial benefits to help protect your future.
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.
Service members and families have access to resources to save money, manage expenses and protect your finances. Learn about military pay, benefits and more.
You can take control of your financial future today. Start small with a few simple changes to save more, spend less, and better manage your day-to-day finances.
You’re learning a lot of new skills in the military, and money management is an important one. As a service member, you may earn more, get special duty pay or have new expenses. Remember: It’s your money, so make the most of it by creating a spending plan. Staying on top of your finances is important for your security clearance, your career and your future.
During deployment, you may be eligible for military pay entitlements, like family separation allowance or combat pay. This is an ideal time to save money or pay off debt. Here are steps to reach your financial goals.