Military Families: Consider These Special Budget Items


Because your military family faces some financial realities that are different than civilian households, careful budgeting is a must. If you use a standard budget worksheet, though, you may get the nagging feeling you are missing a few key categories. Here are some types of income, spending and saving you should take special care not to forget.

Income

  • Basic Allowance for Housing (BAH)
  • Basic Allowance for Subsistence (BAS)
  • Military Pay Allotments
  • Hazardous duty pay

Expenses

  • Uniform-related costs
  • Commissary or exchange charges
  • On-base activity fees
  • Military loans (try to avoid)
  • Equipment needed for deployment
  • Care packages during deployment
  • Services during deployment (childcare, landscaping, home repairs)

Savings

  • Savings for deployment period
  • Savings for anticipated relocations
  • Thrift Savings Plan
  • DoD Savings Deposit Program

It’s also wise to complete separate deployment and stateside budgets. That way, you can have a financial plan that will cover you for all the situations your family encounters.

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