ACCC Explains The Necessary Financial Steps Before Military Deployment

In honor of Military Saves Week, national nonprofit American Consumer Credit Counseling shares five key tips on how to budget for deployment.

Boston, MA – February 27, 2017

How to budget for Military DeploymentDeployment can be an extremely stressful and emotional experience for service members and their families. Like many Americans, the veteran and military population are not immune to issues with financial budgeting, debt and unemployment. These individuals face unique financial circumstances regarding managing finances and budgeting for pre-deployment.

“To minimize stress for both you and your loved ones while you’re away, it is important to be as financially prepared as possible,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “There are a number of steps service members should consider before deployment – such as choosing a financial overseer and creating a budget to ensure they are prepared for any emergency expenses.”

According to a survey done by American Consumer Credit Counseling, 19 percent of veterans are dissatisfied with their current financial situation. Of these surveyed, only 50 percent of military respondents reported that they have sufficient funds set aside to cover expenses for three months in case of emergency and 51 percent of enlisted personal and 32 percent of officers reported not saving at all. In order to prevent future financial stress it is important to plan ahead and be prepared before deployment.

American Consumer Credit Counseling provides steps to take to ensure financial readiness pre-deployment:

  1. Choose a Financial Overseer – Before shipping out, service members should select an individual such as a spouse, parent or other responsible person whom they trust to manage their finances. This person should be made aware of the current financial situation, bills and their due dates, account numbers, pin numbers, and passwords so the financial overseer is prepared to take care of their finances while they are deployed.
  2. Be Prepared Legally – It is important to be prepared for all possibilities, therefore service members should choose a power of attorney and draft a will. Giving someone power of attorney authorizes them to act on the service member’s behalf in any legal matter. If possible they should give this responsibility to the same individual chosen to be their financial overseer. This will allow them to pay the service member’s bills as necessary. Also, drafting a will ensures that their assets are properly handled.
  3. Review the Service Members Civil Relief Act (SCRA) – The SCRA is a federal law that ensures protection for members of the military as they enter active duty. This covers everything from rental agreements, security deposits and eviction to credit cards, interest rates, insurance and taxes payments.
  4. Understand your Entitlements – It is much easier for service members and their financial overseer to stick to a budget and develop a savings plan if they both know and understand their entitlements, which can vary. For help determining which benefits service members may be entitled to, use the MyArmyBenefits deployment income calculator.
  5. Establish a Budget and Create a Savings Plan – If service members do not already have a budget plan, now is the time to create one. Whether they see an increase or decrease in income during deployment, maintaining a strict monthly budget will help them save in case of financial emergencies and pay down debt. Service members should consider creating a Household Budget Worksheet to help when deciding how to allocate their budget.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC”) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education. As experts in debt and credit management, ACCC is well equipped to assist our US military service members and veterans with the unique debt and credit management challenges they face. ACCC provides veterans and current military personnel with the personal finance tools needed to evaluate their financial situation and determine the best possible debt solutions to ease their transition before, after, and during deployment. As one of the nation’s leading providers of personal finance education  and credit counseling services, ACCC’s certified credit advisors work with consumers to help them determine the best way of how to get out of debt and regain financial stabilityACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free personal finance resources, log on to or visit