Financial Tips for Military Families

Wednesday | 3 p.m. ET#CreditChat

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we discussed how to manage money while in the military.“Check out all the resources and tips shared:

bit.ly/military-finances

What financial challenges do military families struggle with?

Wednesdays | 3 p.m. ET#CreditChat

Staying on top of day to day finances

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while on mission or deployed.

MILITARY FAMILY CHALLENGES

Tweet by @jjeffrose

Many challenges same as civilians; unique ones

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Tweet by @veteransunited

(deployment, PCS, frequent relocation) can take a toll.

MILITARY FAMILY CHALLENGES

Challenges for military spouses to find employment

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can make financial options more limited. Tweet by @BBB_MiLine

Uncertainty in future military benefits:uncertainty in military lifestyle; military spouse employment

Tweet by @MilitarySaves

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Stress inhibits planning and stimulatesemotional spending, which can be dangerous.

Tweet by @militarymoney

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Military families struggle with constant relocation,

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managing revolving accounts from outside U.S. and preparing for transition. Tweet by @iGrad

Any advice on how military familiescan save money during relocation?

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Keeping material possessions to a minimum when you know you’ll be moving around a lot certainly helps.

Tweet by @magnify_money

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Successful families rent or purchase and have

Tweet by @militarymoneybasic allowance for housing (BAH) left over.

Spouses can highlight unique skills gained in military lifeon their resume: flexibility, diversity & stress management

Tweet by @veteransunited

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There are many decisions to make with any move.Whether to live on/off base. Whether to rent/purchase.

Tweet by @militarymoney

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What are ways to track money and pay billswhen deployed overseas?

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attempt to eliminate as much expenses as possible. Tweet by @militarymoney

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Before leaving for deployment,

have access and knowledge of accounts and bills.

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For married couples, make sure both spouses

Tweet by @militarysaves

cell phone, cable, etc.

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Consider suspending your auto insurance,

Tweet by @militarysaves

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Tweet by @magnify_money

are a simple way to handle bills, as long as overdraft isn’t a concern.Online banks like @USAA are great! Automatic payments

can monitor bills and your credit while deployed.

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Find a battle buddy that you trust that

Tweet by @jjeffrose

What sorts of discounts and financialbenefits can military families get?

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military discounts. Always, always ask before you buy.The sky is the limit when it comes to

Tweet by @InChargeDotOrg

pay to your bank for your checking account.You can get a discount on fees you

Tweet by @militarymoney

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What should military families knowabout VA loans? How do you qualify?

Wednesdays | 3 p.m. ET#CreditChat

competitive rates, flexible and forgiving requirements!There’s $0 down, no mortgage insurance,

Tweet by @veteransunited

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VA LOAN BENEFITS

such as no prepayment penalty. VA loans offer some really great protections

Tweet by @militarymoney

VA LOAN BENEFITS

Where can military families go to get financial help?

Wednesdays | 3 p.m. ET#CreditChat

they should start with a CFP.If military members need a financial planner

Tweet by @jjeffrose

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Credit counseling and budgeting is free. If debt is your issue, call a non-profit credit counseling agency.

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Tweet by @militarymoney

Check out all the resources and tips shared:

bit.ly/military-finances

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