Tag Archives: budgeting

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

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budgeting

This guest post on budgeting is by Ryan Bonaparte, who last wrote for Add-Vodka in 2012 about common financial mistakes that young adults make. Ryan is a long-time writer and author, delving into topics including personal finance, technology, and career pursuits. He lives in the Boston area with his wife and fiercely independent cat.

Budgeting can be an amazing tool.

From the moment you begin to track where you’re spending your hard-earned money, budgeting can help you begin to understand what your habits are, where your priorities lie, and what goals you want to set in place. That’s a powerful place to be in life, as you can move past surviving paycheck to paycheck, and on to building a security net and further wealth.

I often talk to my friends about the power of moving my money away from the things I don’t care about (a bigger house) to the things I do care about (a nicer car). While you can’t have everything because of a budget, you can put budgeting into an action a plan to have anything with a bit of planning and hard work.

But efficiently earning and spending money is not the meaning of life. There are other factors to consider when deciding how to spend your money, and more importantly what to do with your life outside of budgeting. ...continue reading