Preparing for and dealing with a deployment is hard. If you are a service member, or if you are a spouse going through a deployment, trying to save money during deployment can be a daunting and critical task to take on.
However, there are ways to cut costs, save money, and still pay your bills on time. Here are a few tips to help you save money during deployment.
Servicemembers Civil Relief Act
If you aren't familiar with it yet, the Servicemembers Civil Relief Act gives legal rights to anyone being deployed and also extends some coverage to the spouse and family members of the service member. This is a big deal if you are trying to save money during deployment. Instead of paying bills you aren't using (like car insurance, phone bills, etc.) you can pause these contracts, or may be able to break them altogether.
Save Deployment Pay
There are many different ways that a service member can receive pay while deployed. Sometimes, you may qualify for additional compensation as well (based on the type of deployment and if the service member has a spouse/dependents).
There are times where deployment pay may be lower than traditional paychecks. However, if you find yourself earning more during deployment, throw the extra money into a savings account that you can't easily touch unless for an emergency. This will allow you to save money during deployment without losing out on too much income. ...continue reading