Smart Money Page 15

  • 5 Credit Score Myths that Hold Consumers Back

    5 Credit Score Myths that Hold Consumers Back

    Credit is a major component of financial success for military families. Financing a home or buying a car is made easier when you have a good credit score. Learning how to get and maintain a sound credit report and score is tough when so many myths exist about scores. Look over this list of five myths to get the facts straight: A Good Score Requires You Always Have a Balance Here is one of the most dangero…

  • 6 Ways to Trim Your Military Lifestyle Budget

    6 Ways to Trim Your Military Lifestyle Budget

    There is a lot of budgeting advice to be found on the Internet, but not all of it factors in the different lifestyle of military families. The military way of purchasing a home, food, clothing and other essentials may make some advice irrelevant or provide opportunities to take it even further. Here are six areas of military life to consider saving some money: Shopping Discretion at the Commissary Whi…

  • 3 Easy Ways to Save

    3 Easy Ways to Save

    There are no wrong ways to save money, and making ends meet is easier for some families than others. When money is plentiful, families are more likely to set cash aside for retirement or for an emergency. However, some military families struggle to save for what could be over the horizon. According to a 2010 Financial Industry Regulatory Authority (FINRA) survey, 52 percent of enlisted members and 32 percent of of…

  • Know in Advance: Pay Advance Scams

    Know in Advance: Pay Advance Scams

    Sometimes paychecks just can’t come quick enough. Maybe the car broke down, your child broke an arm or you just got a little behind in the bills. Rather than face potential military penalties, you might try to play it safe by getting a cash-advance loan from the multitude of lenders that surround your base. That’s almost always a bad idea. The reality is military members are more likely to be financially…

  • Budgeting your Military Service Separation

    Separating from the military can be a bittersweet event. You’re moving away from a lifestyle and community you grew accustomed to and are now starting a new phase in life. It can be exciting to purchase a new home, perhaps a new car, start a new career and establish your family’s new life. But before you get too inspired, consider the budget changes you’ll undergo and how they will factor into potential p…

  • Donating Without Spreading Yourself too Thin

    With breast cancer awareness month winding down, November brings a fresh batch of noble awareness campaigns, including National Alzheimer’s Awareness and American Diabetes Awareness. Military families, like civilian families, probably have some connection to at least one cause throughout the year and want to give. Sharing the wealth isn’t easy, especially if you’re on a budget. With so many worthy campaigns, gi…

  • Earn Extra Income by Becoming a Child Development Home Provider

    Earn Extra Income by Becoming a Child Development Home Provider

    Are you looking for a way to earn some extra income?  Well, one option is to become a Child Development Home Provider. Childcare providers offer children a warm and nurturing environment, while providing parents with the peace of mind needed to focus on their duties. And if you already have children of your own, by becoming a CDH provider, you’re able to increase your income with a smaller change in how you spe…

  • Earn a Solid ROI with the Savings Deposit Program

    Earn a Solid ROI with the Savings Deposit Program

    The Savings Deposit Program (SDP) was created to provide military members who are deployed to hostile environments with a potentially significant investment opportunity. Not to be confused with the Thrift Savings Plan, the SDP is an investment opportunity only available to military members serving in hazardous conditions. By designating a percentage of your military paychecks to a savings account each month, the S…

  • Suspending Your Cell Phone During Deployment

    Suspending Your Cell Phone During Deployment

    A host of difficulties face those preparing for deployment. In addition to leaving your friends and family for an extended period of time, there are also important financial decisions you should make to ensure that you aren’t wasting any money while you’re away. From adding a military clause to your lease to suspending your car insurance, there are a lot of ways to make sure you don’t spend when you don’t …

  • Deciding if a Credit Card is Right for You

    Amid global financial turmoil, service members have a right to be skeptical about having a credit card. On the other hand, military families can find exclusive rates and terms on credit cards that may make them more useful and less burdensome. No two families are in the exact same fiscal situation, so it’s best to look over these tips and consult a financial planner to learn more about credit card options. Why…