Planning financially for your education is a difficult thing.  Even with your GI Bill benefits, and other tuition assistance and support from the military, educational costs will pile up. One of the things that you can do is to remember to deduct some of your education expenses off of your taxes. If you are attending college, or if a member of your family attended college last year you might be eligible to deduct up to $4,000 dollars in education expenses. The tax benefit of fees » Read More

As members of the Armed Forces it is easy to fall into the same types of pitfalls that everyone else does financially. But being aware of some of the more common ones can sometimes help avoid them.  Managing money and personal finances is a tricky thing to master.  Here are some of the spending personality types that can cause financial hard times; do you fit any of these? Big Spender: The person in this category loves to buy what they see, and tries to buy » Read More

Having a plan for your monthly bills can help a person stay on a firm financial footing.  Knowing and having a budget can also give you peace of mind in being able to project your spending and track your expenses.  Some simple overall things you can do to help: -Join an online bill paying service, its convenient, it’s free, and it takes a lot of stress off of you as a Servicemember. Plus you will save time, postage and stress.
-Have a family meeting, set goals, » Read More

As we move into February, we find ourselves overwhelmed with the credit card user applications and card forms. As Servicemembers, we become flooded with this kind of mail every month.  Our reputation in financial circles is well respected; so military people are expressly targeted by many of the credit card issuing companies. Before you sign up for credit cards, you have to ask yourself, “What Kind of a Credit Consumer Am I.”  Everyone SAYS they will pay off their » Read More

What kind of Identification do you carry, and how do you carry it?  Sometimes we give a lot of thought to protecting our identity, and we buy shredders, and use other types of actions but don’t take a lot of time considering other issues.  Issues like, your wallet or purse. Many Servicemembers carry the same old wallet that they have for years. This might not seem like a big issue, but sometimes its time to retire the old workhorse and buy a new » Read More

There are balance transfer credit cards that can be attractive for Servicemembers, but to make sure that it’s a wise choice you have to look at several factors. Balance Transfer Fees- For most credit card offers, the balance transfer fee tends to be about three percent of the amount that is transferred.  If you transfer five thousand dollars, that would be about one hundred fifty dollars in fees. Look for companies or credit offers that limit this fee to no more than Seventy-five » Read More

It is a simple thing on paper.  You only spend the money that one has in their Servicemember bank account or checking account.  But with the ACH and automatic debts, the online banking, and the variety of users in a single family, it is possible for an account to go into the red. When this happens, it is not a good thing. Most banks have identified insufficient funds as a huge loss for them, and so they pile on the fees and penalties.  In a » Read More

Its tax season again, and there is a number of situations that Servicemembers find themselves in that are very difficult. Some of them affect your taxes, and some don’t, but they all affect your financial situation.  Facing new circumstances can make anyone struggle and you should know that faced with the same situations, everyone would struggle. Some of the more common situations others have gone through before. So here are a few of the more common issues, and some tips to » Read More

Living in the United States and serving on Active duty has many privileges. But none is as deserved as the special pay and benefits for special duty afforded our Servicemembers.  Soldiers are citizens just like everyone else, and they do not work twenty-four hours a day, nor do they work constantly without break.  Soldiers, Airmen and Sailors take time to participate and enjoy the same activities, sports and freedoms that we all do. But they also place themselves in harms way in special duty » Read More

Serving in the Military is something that not everyone can do.  You work hard for your pay and allowances, and you deserve to make sure that your possessions are safeguarded. Many people do not think they need rental insurance, or insurance on their possessions, but then they fail to stop and think about replacement costs for everything they own. We live in a society that is very flexible and mobile. Even military personnel that live overseas often wind up renting or leasing a » Read More