Military Discounts Local Info & Discounts Air Force Army Coast Guard Marine Corps Navy Moving Tools Military Education Center Military Travel Center Find Military Answers

 Installation Search

DEFENDING YOUR CASH: The Homecoming Spree

This content is provided courtesy of USAA.

 

Thousands of military members in Iraq and Afghanistan are returning soon. They'll likely come home to a new financial reality.

 

It's only natural to want to celebrate the homecoming. But if you've been away for awhile, it's smart to get a solid grip on how your finances will change as quickly as possible.

 

June Walbert, a financial professional with USAA, says often your expenses are reduced while deployed.

 

There's the suspension of income tax during deployment, and extra allowances associated with combat zone duty, but those go away. It's time to adjust not only to less money coming in, but also the increased expenses of being back home. After settling in, one of the first things you must consider is revamping your budget and spending plan.

 

The excitement of coming home can also lead to spending sprees, so maintain some discipline and restraint. It's natural to want to make up for lost time by spending money on a spouse or kids, but that can demolish a family budget that is already in flux. Enjoy a 'cooling off' period before planning any big family trips or splurging on expensive items. Other big life decisions, like buying a new home, might be better put off until you've had a chance to settle in and live with your revised financial situation.

Related Articles:

 

 

 

More Great MilitaryAvenue.com content:

Find Military Discounts in your community

You have Questions? We have MilitaryAvenue Answers!

Our Letters to You, MilitaryAvenue.com's Military Family Blog

Subscribe to MilitaryAvenue Alerts, monthly military-discounts & incentives right to your email box: Manage Subscriptions

The Reading Room, full of relevant news related to the military family

Moving Tools, Our Moving and Relocation Tools for Military Families



 



 


Proud Sponsors

My Account

Social Media
* Share This Article  
* The appearance of hyperlinks to other sites does not constitute endorsement by MilitaryAvenue.com of that site or the information, products or services contained therein.

Military Tools


Advertisement