Being deployed is challenging enough. The demands of deployment can be overwhelming. Maintaining your financial obligations while deployed will make post-deployment life less stressful. It is imperative that you follow these key recommendations to be sure you stick to your budget and maintain healthy finances during deployment. Making sure your money management is on point is a key factor in the process.
Financial Management During Deployment
Follow Your Budget & Savings Plan
If you find you are overspending, reevaluate your budget to include those expenses. See if there are any places you may be able to make cutbacks. If so, develop a new budget or savings plan. This can help you stay on top of getting out of debt. If you find you have extra money left over at the end of the month, consider using it to pay off debts. You can also use it as saving for a possible emergency. Sticking to your budget will enable a brighter financial future for you and your family in post-deployment life.
Keep in Touch With Your Financial Overseer
As much as possible, stay in the know regarding your financial situation. After all, it is your financial well-being that is at stake. So you should be aware of any issues that may occur about your finances during deployment. This way there will be no surprises or unforeseen expenses when you return home.
Keep Track on Your Payments
Track all bills (credit cards, rent/mortgage, utilities, etc.) that are paid while you are away, whether by your financial overseer or with automatic bill pay. If possible, try to sign in to your accounts at least once a month to be sure your bills are being paid on time and in full and that no issues have arisen. Although you are deployed, you are still required to meet your financial obligations in a timely manner.
If you struggle to pay off debt, ACCC can help. Sign up for a free credit counseling session today.