Smart Military Money
Personal finance tips andadvice for the military lifestyle.
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Given some great news this week, this military personal finance roundup focuses on jobs, a hot topic for everybody in the U.S. right now. But there’s no use in giving up on a job hunt. For service members and veterans, there are several resources to help you find work such as the Stars and Stripes Veteran Job Center or VetSuccess.
Beyond that, fellow personal finance bloggers regularly offer tips and tricks for finding work. Give this roundup a look for the good news and to see what some of them suggest.
Tornado season hits its peak for much of the U.S. in the summer, so this military personal finance roundup focuses on natural disasters. Unfortunately, disasters can happen at any time. Thanks to modern meteorology, forecasters can better predict when a storm will strike, whether it’s a Tornado in Texas or a hurricane on the East Coast. But that doesn’t mean they won’t do damage.
Natural disasters do more than damage infrastructure — they can wreak havoc on people’s finances. The good news is that you can prepare for a natural disaster well before it’s even a threat. Take a look at what these personal finance bloggers have to offer on the subject.
Aaron Dykstra passed the down time on the flight line by imagining his life building bikes. More specifically, he wanted to build bike frames, the integral series of metal tubes that makes up a bike.
“I spent a lot of time mapping out real basic stuff,” said Dykstra, a six-year Air Force veteran from the 94th Fighter Squadron. The wheels of his future business were already spinning in his head.
With the exception of his deployments and time as a business owner, Dykstra worked in bicycle shops since he was 15. When he turned 17, Dykstra enlisted in the Air Force. He wanted to get out of Roanoke, Va. and the military seemed like a viable option. Now he’s the man behind Six-Eleven Bicycle Co, a company that’s received high honors at North America’s most prestigious bike show.
Nobody lives a mistake-free life. Imagine how boring that would be. A life with no mistakes, no lessons learned and no maturation sounds unfulfilling.
At the same time, humans try to avoid disastrous mistakes. Learning to handle your money will undoubtedly cause mistakes. Just ask Cyprus.
Last week the island country’s two major banks sought a $13 million bailout. It’s really not much compared to the $650 million Eurozone leaders have handed out in the last three years. But alas, Cyprus did not receive the funds. There’s more to the story that can teach all consumers four important things.
With tax season coming to an end, the stragglers waiting until the last minute are rushing to file on time. The IRS estimates around 25 percent of Americans waited until the last two weeks to file. If you’re one of the last-minute filers, be sure that the rush and deadlines don’t make you an easy target for scams.
Instead of focusing on saving money or paying debt, this military personal finance roundup focuses on job hunting. Once veterans return to civilian life, they’ll have to make a strong effort to find work. The blog posts in this roundup are not exclusive to veterans, so military spouses might find these resources useful too.
Seeking employment as a veteran shouldn’t be intimidating, but rather exciting. The transition to the civilian workforce isn’t always easy. However, the skill sets veterans develop while in the service can contribute to a stellar résumé. Take a look at these blogs for more employment guidance.
Not all veterans, survivors and military retiree receive the 2013 cost of living adjustment (COLA). Although the COLA went into effect in December 2012, only certain federal retirees get the 1.7 percent increase.
The increase for 2012 retirees is not necessarily 1.7 percent. Service members who left the Armed Forces between April 1, 2012 and Sept. 30, 2012 earn a partial COLA increase based on the calendar quarter in which they retired. For 2012 retirees, the 2013 COLA increases are as follows. See More
In this military personal finance roundup, raises don’t refer exclusively to a pay increase. What about raising children to be responsible, educated consumers? Or increasing your credit card limits? Or the possibility of raising the federal minimum wage? Well, we compiled several blog posts to shed light on all of these topics and more. No matter how you choose to apply the word “raise” to money issues, it should be well covered by all the bloggers featured in this roundup.
In which way does “raise” apply to your life right now?
If you are serious about maintaining your good credit standing, identity theft is certainly one of your worst nightmares. You are undoubtedly guarding your Social Security number, date-of-birth, PINs and other personal data. You are certainly on the alert for phishing schemes, and you are likely shredding any documents that could lend a helping hand to criminal types.
You probably review your credit report, at least annually, and you wipe your drives before discarding old personal computers and other digital devices that may contain your personal information. You thoroughly review your bank and credit card statements upon receipt. You also limit your online shopping to well known retailers, and you may even drop your mail at the post office rather than risking its theft from your mailbox. All very sound prevention measures to be sure. However, even with these preventative measures in place, you could be the next victim of identity theft. The most recent survey by Javelin Strategy & Research suggests that 1 in 20 adults fall prey to identity theft.
Are you separating from the armed services or have you recently separated, but you don’t have a post-military job lined up yet? You might be able to receive unemployment benefits to help keep you afloat until you are able to land a job.
The Unemployment Compensation for Ex-servicemembers (UCX) provides financial benefits to ex-military personnel who qualify. Here’s a quick rundown of what it entails.
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