When your family joins the military, it typically is because you want to serve your country, not because of the financial benefits. You give of yourself. You are will to move your family where told. You even sacrifice time with your loved ones. With all of these challenges, there are financial opportunities to be aware of and to capitalize on. These perks are not available to the civilian world. Here are five financial hacks to help military moms make ends meet when you think they can’t.
Military Discounts
Many restaurants and stores around town offer a military discount. It may be only on a specific day of the week. It does not hurt to ask if there is one while paying your bill. A 10% discount does not feel like that big of a savings. It will, however, add up over time, and be a blessing in your budget. You can look at it as if it is a 10% pay raise. Plus, if you need something to do with the kids, watching a movie with a discount will be a low-stress, fun activity for everyone involved (we have some reviews here to help you pick!)
Military Mothers Support Groups
The spouses of the military meet regularly for fellowship. This is a great time to network with them. Share your challenges and find out the solutions they have found. You can find out what the local atmosphere is like. You can also find out details about your next duty station. Knowing these tidbits of information are priceless to saving money.
GI Bill
You may wish to further your education. One of the VA benefits you have access to is the GI Bill. This is a great asset when wanted. If you are interested in attending college check out the support that is offered to you. Not to mention, most universities worth the time will have a veterans center or some sort of veteran support system in place.
VA Loans
According to Low VA Rates, the purpose of the VA loan program is to help our nation’s veterans obtain adequate housing on better terms than they could get anywhere else. If you’re planning on moving or upgrading to a better living situation, you can look at ways that a VA loan can help you get a home you like, and save some hundreds every months, depending on where you live.
Tax-Free Roth Deposits
One fantastic financial benefit of being a military family is tax-free Roth deposits. You put money in your Roth investment tax-free, and you take it out tax-free. That is unheard of in civilian life.
There are challenges working in the military. On the other hand, there are opportunities to benefit from the military too. Take advantage of these opportunities for the prosperity of your family. Check out each of these five financial hacks to help you make ends meet in the military.
