4 Tips for Saving Money While in the Military GOBankingRates 3 hrs ago © Geber86 / Getty Images Close up of a father coming home after being deployed.
Members of the military have access to special savings opportunities, but they don’t always make the most of these benefits. It can seem difficult to afford to set money aside for the future when you’re focusing on paying your regular bills and dealing with extra challenges like frequent moves and deployments. But even if you start small and save regularly, your savings can grow significantly over the long run and make a big difference in your financial future especially when you get tax benefits and matching contributions. Here’s how to get started.
Military Money: A Financial Checklist for Big Life Events
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The Best Advice I ve Ever Received
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By Staff Sgt. Laura Fitzmorris, 302nd Airlift Wing / Published February 02, 2021
The ongoing pandemic provides an opportunity for Airmen to resituate their financial lives, create actionable financial goals and offer options to grow wealth, said Kristy Tubbs, a financial coach with Piece of Heart Financial Counseling, during a virtual Yellow Ribbon event Dec. 18-19.
Tubbs, a military spouse of 32 years who has experienced multiple deployments, government shutdowns, recalls back to active duty and losses of outside income, said money tends to be the number one stressor for military members.
“If we can take away the fear about money or the lack of money and provide hope for a better tomorrow, the service member can leave on deployment knowing there is a plan in place to remove the stress and they will be able to perform the mission without concern for what is happening back on the home front,” Tubbs said.