Budget
Top 5 Strategies
Review your financial situation at least once each year. Knowing where you are now financially, where you need to be, and what resources you have to make that possible will help you and the servicemember for whom you care prepare for the future.
1. Plan ahead. Be prepared for the reduction and interruption in the servicemember’s pay.
2. Develop a spending plan. Compare current income and expenses against projected income and expenses.
3. Save more, spend less. Look for ways to save income and reduce expenses.
4. Establish an emergency fund. Save three to six months of basic living expenses.
5. Be aware of potential pitfalls. Plan for the unexpected.