Have you ever been frustrated about your credit situation? You may have joined the military, hoping to get ahead, but you still have some debt you need to deal with. Did you know there are protections just for active duty military members that can help you financially? Life in the military can be unpredictable, and… Read more »
COLA stands for Cost of Living Adjustment and is a way to increase benefit amounts in order to keep up with inflation. COLA in 2019 went up 2.8%. Because of federal law, the COLA changes to the VA’s compensation and pension rates are the same percentage increases that social security benefits receive. Social security started… Read more »
President Trump has proposed a 3.1% military raise for 2020. This is higher than the 2019 raise of 2.6% and the highest raise since 2010, when the raise was 3.4%. Of course, before this is to happen, there will be debate about the raise within Congress and won’t be approved until later this year. Military… Read more »
Here are the 2019 Reserve pay dates. These dates apply for pay for the following: Army Reserve Pay Dates Marine Corp Reserve Pay Dates Navy Reserve Pay Dates Air Force Reserve Pay Dates Coast Guard Reserve Pay Dates If you serve in the Reserves for the Army, Marine Corps, Navy, Air Force, or the Coast… Read more »
Paying someone else to file your taxes for you can be very expensive. Thankfully, that’s an added expense that military families don’t have to pay. Below are a list of places that have adopted a ‘free tax filing for military’ mindset. Explore these options and file your federal and state taxes for free this tax… Read more »
The Military Star Card is a popular credit card available for members of the military. Here is what you need to know about this card. What is the Military Star Card? The Military Star Card is a line of credit exclusive for military personnel and their families. Those that use the card will receive a… Read more »
Tax season is here! This dreaded time of the year doesn’t have to be so bad, especially for military families. Military and their families get to take advantage of free tax filing, free access to tax consultants, special tax exemptions, and when eligible, extra time to file. Now that the military W-2 forms are out,… Read more »
When it comes to buying a home, many military families use a VA loan, which is one of the benefits of serving in the US Armed Forces . This type of loan can save a lot of money and can allow families to buy their own home before they would otherwise be able to do… Read more »
What is SGLI coverage? SGLI stands for Servicemembers’ Group Life Insurance. SGLI provides low-cost term life insurance coverage to service members that are eligible. If the service member is eligible, they are automatically issued the maximum in SGLI coverage. They are automatically enrolled and will not have to apply. Service members can however decline the… Read more »
The Veterans Benefits and Transition Act of 2018 allows military spouses to choose the same state of legal residence as their service member. The new rules covering the military spouse state income tax would apply to local taxes and would also apply for voting purposes. All of this even if they have never lived in… Read more »
One of the benefits of serving in the US Armed Forces is the ability to get a VA loan in order to buy your own home. There is no cap on how much you can borrow to finance your home with the VA. However, there are limits on the amount of liability that the VA… Read more »
January is here and that means a military raise! This year, service members will be seeing an increase of 2.6%, up from 2.4% last year the highest military raise since 2010. Over the last ten years, the lowest raise was in 2014 and 2015 at 1% with the highest in 2009, with 3.9%. Military raises… Read more »
Home is where the heart is or — for service members and their families — home is where the military sends you. For each and every on-post house that you customize and make your own, there are small tweaks and fixes you can employ that will save your military family money. Some duty stations provide… Read more »
When a service member or spouse decides to go back to school, there usually needs to be changes to the family’s budget. Most likely, there will be a loss of income. Even if all of the educational bills are paid for through the military and financial aid, saving money during the time they are in… Read more »
When you start to plan your next vacation, you may be looking for ways to save money. Traveling expenses can add up, but if you can find ways to save money, you will be able to keep your costs lower than they would otherwise be. Here are 20 money saving hacks for your next vacation:… Read more »
If you are working on your budget, your grocery bill might be one of the best ways to save some money. You could be overspending. According to the USDA charts for July 2018, a family of four with kids between the ages of 6-8 and 9-11 should be spending $644 on a thrifty plan, $848… Read more »
As a service member, you will receive different types of pays during the course of your military career. There is your base pay, BAH for your housing and BAS for food. There are also different special and incentive pays, over 60 of them which you may or may not qualify over the course of your… Read more »
As a service member, you will receive different types of pays during the course of your military career. There is your base pay, BAH for your housing and BAS for food. There are also different special and incentive pays, over 60 of them which you may or may not qualify over the course of your… Read more »
What you pay for housing each month can be one of your most significant expenses. You could feel like you are paying too much or you might be looking for a place to live. Here are a few ideas to help you save money on your housing. Ways To Save Money On Your Housing If… Read more »
As a service member, you will receive different types of pays during the course of your military career. There is your base pay, BAH for your housing and BAS for food. There are also different special and incentive pays, over 60 of them which you may or may not qualify over the course of your… Read more »