MilSpouse Money Mission

12/24/2020

DOD Releases 2021 Basic Allowance for Housing Rates

The Department of Defense has released the 2021 Basic Allowance for Housing rates. Click here to learn more about the changes. http://bit.ly/2021-BAH

The Defense Department has released the 2021 Basic Allowance for Housing rates.

12/24/2020

Do you have a new furry friend in your household? In addition to fur and love, pets bring added expenses. Make sure you include food, potential vet visits and the occasional replacement of a chewed up item to your monthly budget. 🐾

Visit our Money Ready 101 to learn how to set up a budget! www.milspousemoneymission.org/create-a-budget/

12/23/2020

Goal Setting - Financial Education & Planning - MilSpouse Money Mission

"Like" this post if you're ready to say good-bye to 2020 and usher in 2021! 👋 Look forward to the new year and set financial goals.

It doesn't matter if they are big or small, visit Goal Setting on our site to start! https://bit.ly/new-year-goal-setting

#Goals #GoalSetting #MilFam #MilSpouse #MilSo

Financial planning begins with goal setting. As a military spouse, take time to define your goals. You can use the four questions on this webpage to begin.

12/22/2020

We wish you a happy holiday season!

#HolidaySeason #MilitaryFamily #MilSpouse #MilSo

12/21/2020

What I Wish I Had Known: Ways to Save

When was the last time you used a military discount? Take advantage of discounts this time of year! Let's hear from Jason, an Air Force spouse.

Do you want more videos like this? Visit our website! http://bit.ly/CoffeeShopTips

#SavingTips #MilFam #MilSpouse #MilSo

12/20/2020

Don't let separation keep you from "seeing" your family this holiday season. Host a virtual holiday party using a free videoconferencing service. Add extra fun to your party by playing a free game you can find online.

12/19/2020

Start the New Year Right, Set Financial Goals - MilSpouse Money Mission

With the new year only a few weeks away, now is the perfect time to plan for next year's financial goals! Read this article to help guide you. http://bit.ly/MMMStartTheNewYearRight

#FinancialGoals #NewYear #Budgeting #MilFam #MilSo

Set financial goals in the new year to build a stronger financial future for you and your family.

12/18/2020

Stay informed about the collection process of the 2020 payroll tax deferral from your Service member’s pay by visiting Defense Finance & Accounting Services (DFAS).

The temporary 2020 Social Security tax deferral ends in December. Starting in January the collection of your 2020 deferred taxes will be taken from your pay as well as your normal 6.2% Social Security tax withholdings. For more information on the collection process, visit: https://www.dfas.mil/taxes/Social-Security-Deferral.

12/18/2020

MilSpouses, are you employed and contributing to a 401(k)? Use our calculator to help you reach your savings goals! https://bit.ly/401kRetirementCalc

#401k #Retirement #RetirementPlans #MilFam #MilSo

12/17/2020

What I Wish I Had Known: On the Move with the Military

How many PCS moves have you had? Tell us in the comments below! Watch this short video on financial tips when it comes to being on the move with the military.

Visit our website for more useful videos like this one! http://bit.ly/CoffeeShopTips

#PCS #MilitaryLife #MilFam #MilSo

12/17/2020

Did you know that the military relief societies provide financial assistance to eligible Service members, veterans and their families? Learn more! https://www.milspousemoneymission.org/resources-military-relief-societies/

Army Emergency Relief, Navy-Marine Corps Relief Society, Air Force Aid Society, Coast Guard Mutual Assistance.

12/16/2020

Military Separation: Transition to Civilian Life | Military OneSource

The transition to civilian life is not only an emotional shift, but a financial shift. Check out this article from Military OneSource to learn about what to expect.

#Transition #MilitaryLife #MilSpouse #MilFam

Learn about programs and resources available to service members transitioning from military to civilian life, such as the DOD Transition Assistance Program.

12/16/2020

Military Relief Societies: Lending a Helping Hand - MilSpouse Money Mission

The military relief societies are ready to lend a helping hand to the military community—in more ways that you might expect—this holiday season and all year long. Visit our new blog to learn more: https://www.milspousemoneymission.org/military-relief-societies-lending-a-helping-hand/.

Army Emergency Relief, Navy-Marine Corps Relief Society, Air Force Aid Society, Coast Guard Mutual Assistance.

If you find yourself needing some financial support, remember the four military relief societies stand ready to help.

12/15/2020

We are keeping Service members and their families in our thoughts this holiday season. We appreciate your family's sacrifice.

#MilSpouse #MilitaryFamilies #Holidays

12/15/2020

Have you considered homemade gifts for the holidays? These can be a unique and low-cost alternative for someone special. Another option is to make coupons for your “services” like babysitting or extra carpooling.

12/14/2020

MilLife Milestones: Vesting in the Thrift Savings Plan (TSP)

If your Service member falls under the BRS, be sure they spread TSP contributions out over the entire year to take full advantage of the full match. If you reach the IRS contribution limit before year-end, you miss out on service matching contributions (up to 4%). That's free money! https://bit.ly/MMM-TSP

#TSP #ThriftSavingsPlan #BRS #MilFam #MilSo

The Thrift Savings Plan (TSP) is one aspect of your service member’s retirement plan that can help your family save in a tax-advantaged way. Learn more!

12/14/2020

This is the final month of the social security payroll tax deferral. You'll have to pay it back in the new year. Have a plan, review that plan and schedule an appointment with your installation Personal Financial Manager or Counselor: https://www.dfas.mil/taxes/Social-Security-Deferral/

#payrolltaxdeferral #taxes

12/13/2020

Today marks the 384th birthday of the United States National Guard!

#USNationalGuard #NationalGuard! #MilSo #MilFam

12/12/2020

Avoid Emotional Spending During the Holidays

Are you stressed this holiday season? Do you tend to spend more when you're stressed? Follow these tips to avoid emotional spending this year.
https://bit.ly/Avoid-Emotional-Spending

#HolidayStress #HolidaySpending #Holidays #MilFam #MilSo #FinancialTips

The most wonderful time of the year is upon us, bringing thoughts of family, friends and cherished traditions. That means different things…

12/11/2020

Are you prepared for retirement?

Is your family getting close to military retirement? Watch this two-minute video featuring Brittany, a United States Air Force spouse, to hear how she prepared.

Do you have tips to share with the community? If so, join the mission and comment below. 👇

#Retirement #RetirementPlan #MilSo #MilSpouse #MilitaryFamily

12/09/2020

Expenses during this season can add up quickly, and it's easy to think about payday loans as a quick solution. BEWARE! Payday loans can put you in an endless cycle of debt.

Learn your options in our #ManagingDebt section and talk to a counselor at your Military and Family Readiness support center. https://bit.ly/managing-debt

#Debt #FinancialTips #Holidays #MilFam #MilSo

12/08/2020

Your Service member has the opportunity to participate in one of the lowest cost retirement plans available. These account basics will give you and your Service member the knowledge you need to get started. www.tsp.gov/account-basics/

#TSP #ThriftSavingsPlan #Retirement #MilFam

12/07/2020

One-Minute Recipe for Financial Success

With the holidays right around the corner, make sure you are following your household spending plan. It's a simple recipe for financial success!

You can stay on track with the help of our resources. https://www.milspousemoneymission.org/

#HolidaySeason #Holidays #FinancialSuccess #FinancialTips #FinancialHealth #MilSo #MilFam

12/05/2020

As the year comes to an end, it's the perfect time to review your savings and investment accounts - that includes the TSP! Review your accounts to see if it's time to make any adjustments. If you need help, visit with a Personal Financial Counselor/Manager on your installation.

If your new year's resolution is to start investing, here is a guide that will walk you through the basics! https://bit.ly/DODFINRED-InvestingBasics

#Investing #Saving #InvestingBasics #MilFam #MilSo

12/04/2020

Try to avoid credit card debt during the holidays! Instead, pay cash or debit for your holiday expenses. If you do use credit, have a plan for repayment to avoid interest charges that can add up fast.

Want to find out how to approach holiday debt? Visit our Managing Debt section! https://bit.ly/managing-debt

#AvoidDebt #HolidaySpending #Holidays #MilFam #MilSo

12/03/2020

Tips for Holiday Spending

With proper financial discipline, you don't have to spend a fortune this holiday season. Check out this article from Military OneSource on 10 Smart Tips for Military Families to Save on Holiday Spending. http://bit.ly/10TipsToHolidayBudget

#Holidays #HolidayBudgeting #MilFam #MilSo

Holidays mean spending-but youve got the discipline to keep it reined in this season. Celebrating with your family doesnt have to lead to debt-and heres how to make it a great holiday and maintain financial control.

12/02/2020

Financial-related Stress

Now more than ever, it's easy to stress about finances during the holiday season. Ingrid, an Army spouse of 10 years, gives some insight on financial-related stress.

Join our #MilSpouse community! Find useful videos like this on our website and other resources to help. http://bit.ly/CoffeeShopTips

#HolidayStress #Holidays #Finances #MilSo #MilFam

12/02/2020

Identify your spending personality with our quiz and avoid overspending during this holiday season!
http://bit.ly/MMM-MoneyPersonalityQuiz

#FinancialPersonality #HolidaySpending #Holidays #MilFam #MilSo

12/01/2020

Learn more about #MilitaryReliefSocieties!

Life doesn't always go according to plan. Fortunately, the military relief societies are here to help with no-interest loans, grants and many support programs.

Learn more about #MilitaryReliefSocieties! http://bit.ly/MilitaryReliefSocieties

#Giving #Charity #Donation #Military #MilFam

12/01/2020

MilSpouse Money Mission's cover photo

11/30/2020

This month, we've been talking about the Thrift Savings Plan (TSP). Use our quick reference guide for a detailed overview of the plan to help your Service member get the most out of it. https://bit.ly/M3-Thrift-Savings-Plan-Handout

#ThriftSavingsPlan #TSP #Retirement #MilFam #MilSo #MilSpouse

11/29/2020

An essential guide to building an emergency fund | Consumer Financial Protection Bureau

It's important to have a healthy emergency fund, right? It's also really important to know WHEN to access it. You can start by defining what an unplanned expense is for your family.

Learn more by reading this Consumer Financial Protection Bureau (CFPB) resource. https://bit.ly/EmergencyFundGuide

#Savings #EmergencyFund #RainyDay #MilSo #MilFam #MilSpouse

Everything you need to know about what an emergency fund is and how to create an emergency fund. An emergency fund is an important step in protecting yourself financially from the unexpected – like a car repair, medical bill. or replacing an appliance – and staying on track to reaching your savi...

11/29/2020

#MilSpouses, if you are employed and earn a paycheck, you have probably seen a bump in your pay due to the #payrolltaxdeferral. Do YOU have a plan for repayment? Review your pay stubs, develop a plan for the additional money, and visit your installation Personal Financial Manager or Counselor for assistance.

Stay informed for your family: https://www.dfas.mil/taxes/Social-Security-Deferral/

#payrolltaxdeferral #taxes #military

11/28/2020

M3 MilKids Video

Parents, when was the last time you had a good conversation with your children about money? Not sure? Well, we have just the resource to help—MilKids. Check it out today for tips and tools to raise financially fit kids.
https://www.milspousemoneymission.org/military-spouse-raising-financial-fit-kids/

#MilitaryFamilyAppreciationMonth

11/27/2020

Try to resist the urge to dip into your emergency savings to help pay for the holiday season. Now more than ever, it's important to have a healthy emergency fund to cover the cost of life's gotcha moments.

Use our Emergency Fund Calculator to help you determine how much savings you may need. http://bit.ly/EmergencyFundCal

#EmergencyFund #Holidays #MilSo #MilFam #MilSpouse