Deployment

Deployment ABCs: Money, money, money

August 17, 2016

The Deployment ABCs is a 26-week series where I cover every deployment-related topic, from care packages to homecomings to OPSEC. Tips, tricks and maybe a resource or two to help military spouses navigate their way through the craziness that is a deployment.  If there’s a topic you’d like for me to cover or are interested in adding your own thoughts to, send me an email and we’ll chat! 

Can you believe that we are at the halfway point in the Deployment ABCs series?! Hopefully, you’ve gathered a few nuggets from all the topics I’ve covered, whether they’re about care packages, or first deployment advice or even keeping in touch with your loved one.  I’ve tried to keep a positive spin on everything, despite all of us knowing that deployment hardcore sucks.

So here’s the positive message for today: deployments can totally help you out financially.

Many soldiers/sailors/airmen/Marines are deployed to combat zones, any area the President of the United States designates by Executive Order as an area in which the U.S. Armed Forces are engaging or earned during that time is tax free. That means, if you play your cards right, you can come out of a deployment in a much better financial position than you were in when the deployment started.

#Deployments can put you in a better financial situation, if you're careful. Click To Tweet

A and I have been very lucky to have that happen to us during both deployments.  We’ve been able to purchase a new home, pay back loans faster, replace A’s car and go on a few extra vacations thanks to our “deployment money”. It’s a great feeling and I am forever grateful that we’ve been able to take advantage of that unique situation.

But it doesn’t just happen. No one just hands you extra money and tells you to go have fun. Obviously, we go through the ups and downs of deployments, but we’re also very budget conscious during those times we’re separated. When A is gone, all of those daily bills (groceries, extras, utilities), shift over to me and therefore I have to do more with the same amount of money. Whether it’s saving money on care packages or cutting out some extras, I try to keep my budget tight while A is gone.

We also talk about finances before he leaves. What would we like to do with the extra money when he gets home? What do we need to do with that money? And how much would we like to have by the time we make it to homecoming? By setting expectations and priorities early on, we both have something to work towards and it keeps us on track.

Based on those priorities, we can work out our deployment budget(s) together so we both feel comfortable with the plan. Add a dash of willpower, bake for approximately 4-6 months and you could really find yourself in a good financial position.

How do you save money during deployments?

(Visited 53 times, 1 visits today)

You Might Also Like

  • When we first got married, my husband handled all of the budgeting mainly because he was used to doing it and I had never lived on my own. Soon though I realized that I really should be doing it so that once he is not there, I already know what I am doing! Having a budget that you talk about, goals that you set together, and an understanding of your finances can make a world of difference. I know I will make me more motivated to stick with our budget if we have a goal, like a vacation or something we want to purchase.

  • Jen

    Saving money was always a huge thing for us during deployments and we still make it a huge priority. We have automatic transfers monthly that go into savings that we treat as a bill. It has helped a lot.

  • Pingback: Deployment ABCs: Preparing for Deployment - Countdowns and Cupcakes()

  • Pingback: Resolution Care Package - Countdowns and Cupcakes()