Smart Military Money
Personal finance tips andadvice for the military lifestyle.
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A recent Congressional Budget Office (CBO) report shows that the average cost to maintain an active duty soldier is now $158,000 a year, a 50 percent jump since 2001. Military personnel costs per service member are expected to continue to increase by approximately $4,700 a year for the foreseeable future. The Department of Defense has [...]
Pentagon officials have submitted a plan that would significantly decrease military pay raises beginning in 2015. Currently, raises are determined according to the Employment Cost Index, a Department of Labor statistic that measures the growth of private sector wages. Instead of using the ECI, officials are proposing a flat 0.5 percent raise in pay, followed [...]
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