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AAFMAA Blog

How to stay financially intact during deployment

2015-08-19

Deployment presents many challenges to a family. The deployed worry about their families at home, knowing that there isn't much they can do should their spouses or children struggle on the home front. And families fret about the safety of the loved ones who deploy. 

Leaving your family for significant amounts of time is simply inevitable when you serve your country for a living. But, just because you go away doesn't mean financial challenges do, too. Deployment can bring both financial challenges and advantages, and, the best way to make the most of the advantages and to emerge from the challenges is to take the right steps - before deployment, during, and upon your return. Some are obvious, and some may not be, so take note of all 12 steps that AAFMAA COO Mike Meese (BG, USA, Retired) lays out in an article for wisebread.com:

Before Deployment

1. Stash cash in the Savings Deposit Program

2. Learn what other financial benefits you way qualify for as a deployed servicemember

3. Buy more insurance

4. Make a financial plan for your absence

During Deployment

6. Monitor your leave and earnings statements

7. Avoid overspending

8. Be sensitive about sharing information

After Deployment

9. Ease back into family finances

10. Submit your travel vouchers and get your entitlements

11. And, again...don't overspend

12. Play catch up (and file your taxes, and pay off debt right away)

For Meese's exact words, and more details on this Deployment To-Do list, read the full Wise Bread article, "12 Easy Ways to Manage Your Finances Before, During, and After a Military Deployment" online: www.wisebread.com/12-easy-ways-to-manage-your-finances-before-during-and-after-a-military-deployment.