Every year, the third Saturday in May is Armed Forces Day. It’s a day to honor and to thank the men and women who serve in the armed forces of our country. Military families face different financial challenges than civilians. Here are some Armed Forces Day resources and tips to budget around deployment and how to save with military discounts.
Armed Forces Day Resources & Tips
Before being deployed, it’s important to be financially prepared. Follow these steps to prepare your pre-deployment budget:
- Establish a monthly budget. Use our Household Budgeting Worksheet to get you started.
- If you will receive extra income during deployment, use this surplus responsibly. You can either use this cash for savings or pay off debt.
- If you will see a decrease in your income, create your budget around this.
- Appoint a financial overseer. Whether it’s your spouse, a parent or even an accountant, you will need someone to manage your finances while away.
- Update online accounts with security features and strong passwords. This will help fight against identity theft.
Other Financial Military Resources
Many organizations and companies offer military discounts during this time and some year round. This is done as just a small thank you for all that active service members, veterans, and retirees have done for our country.
To receive a discount, a valid ID is usually required such as a current Military ID Card or a retiree card. Also, many discounts are subject to change based on location.
Fortunately, there are plenty of organizations and businesses offering Armed Forces Day resources and military discounts to help with your finances. Other service members might be able to shed insight into deals they have found as well.
To speak to a credit counselor today about budgeting and managing your finances, call 800-769-3571.