When you are working to deal with debt, you should be aware that all debt settlements and solutions are not the same. You should be aware that there are different types of debt settlements, and solutions to choose from. Debt Consolidation- The term itself means that you take all your debt, and combine them into a single amount.  And that you make a single payment toward retiring all your debts with that single payment. The term has been used to sell people on restructuring their home loans, » Read More

There has been a lot said and written about the way that some companies prey on military families, using deceptive or dishonest loans and financial enticements. From money deals to out and out loan sharks, there are a lot of individuals and companies that attempt to prey on Servicemembers and their dependents. Well, there are also new protections that are coming into effect. The new legislation, called the Military Lending Act, promises to address many of these questions and solve some of the problems that » Read More

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