Money

deploymentPreparing 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

parenting“Do what I say and not what I do” is something too many kids can hear when growing up. And if not in those words, then in their parents’ actions.

Speeding, swearing, not exercising and poor money habits are bad examples that parents can set without realizing it.

Some parenting “fails” teach children about money — but in bad way. Here are some parenting “fails” that parents can turn around to teach their children about money:

Bad parenting impulse buys

Some impulse purchases can be fun. An ice cream treat after a tough week at school or a movie out as a way to break up the monotony of staying home too many nights can be  worthwhile motivators for kids to do better in school or at least be a fun break.

But if you can’t afford them, or spend too much on an expensive impulse buy — such as the latest technological gadget that you’ve coveted for months — then it can show a lack of restraint in how you shop.

Even small impulse buys, if made often, can show your child that it’s OK to buy something without giving it much thought and that you get what you want. But small purchases add up, and a better lesson would be to give up such purchases and put that money aside in a vacation fund for the whole family to enjoy the benefits of giving up short-term joys for long-term planning of a family vacation.

Every parent has probably had their child ask for a candy bar or something while waiting at the grocery checkout line. Telling them no can be difficult, but it beats raising a child who thinks they’re entitled to everything they see. ...continue reading

never retireWhile it is becoming increasingly popular to retire early or achieve financial freedom before 65, there are quite a few reasons why you should never retire.

People are Living Longer

It is projected that in 2050, over 20% of the population will be 65 years or older. That's up from 12% in 2000. With more people living longer, there comes more time to enjoy life and work if you choose to. 65 doesn't automatically mean you have to give up your job.

In fact, 65 doesn't mean a decline in health or physical capabilities, so if you want to work, you shouldn't let age hold you back.

You should never retire just because of the stigma around age. In fact, adults are expected to live to at least 84 years once they make it to their 65th birthday. That's almost an extra 20 years. Can you imagine being retired for 20 years?

No Retirement Security

It is well known that saving for retirement is important. However, many baby boomers, Gen X'ers, and Millennials still aren't saving and investing. This leads to a lower amount in savings, and a lower amount of money that can be used once a person has retired.

You should never retire if you feel you can't make ends meet. Even if you can afford your lifestyle, money is never guaranteed. Having a job, even if part-time, or a side hustle can offer you more flexibility, and money in your pocket. ...continue reading