finances - Mission: Milspouse

5 Finance Tips for Military Families During COVID-19

by M:M Command Team | May 14, 2020 | Blog, Expert, Financial Planning, Partner Post

Editor’s note: This post is sponsored by First Command.

By Mark Steffe, CEO/President of First Command

In this unprecedented time in our country, many of us are taking closer look at our personal finances. A global pandemic is new to us all, but First Command has experience coaching military families through the most volatile times. There’s a tendency at times like this to feel a bit helpless, but there are steps you can take now to organize your financial life and ensure that you are on track for your long-term goals.

Here are some suggestions for how to make the most of the current environment.

AWTR Show #732: ACP- Milspouse Programs + Special Feature with First Command CEO

by M:M Command Team | Apr 27, 2020 | Financial Planning, Podcast

Hello and welcome, listeners! This is an extra special episode as we don’t have just but TWO empowering resources to share with you. First up, AWN Commander, Sharita Knobloch, interviews Lucie Piper, who is a USMC veteran spouse and military-focused Social Worker who manages American Corporate Partners’ free mentorship program for active duty military spouses. In the second portion of the show, hear from AWN supporter & sponsor First Command Financial Service President & CEO, Mark Steffe, as he shares empowering information on how military families can respond financially to the COVID-19 pandemic.

Positive Pocket Change

by Angie Andrews | Apr 7, 2020 | Blog, Experience, Financial Planning, Household 6

Over the past month, my husband and I have used more than 15% less spending money than our usual amount. Also, over the past month, one of our personal investment accounts has dropped more than 30%.

I’m guessing I don’t even have to tell you why either happened.

It’s been in the back of my mind for a while now to share some of our favorite little personal finance habits, and now with an added layer of what is going on around us, I felt there was a bit extra to say.

Starting with what I originally wanted to share: I would really like to emphasize that these are our own personal habits. Neither one of us has any sort of financial expertise, but over the past five years or so, we’ve found our shared personal finance groove. A big part of this was reading about personal finance, seeing what stuck out to us, and actually trying some ideas out.

The Pros and Cons of Buying a Home in the Military

by MilitaryByOwner Advertising Inc | Mar 24, 2020 | Blog, Expert, PCS

The same questions surface every couple of years when it comes time to PCS. One of the biggest ones is whether or not we should buy or rent a house at our next duty station, but that question can also be one of the hardest to tackle.

The answer can differ based on the location. But how do you make that decision? How can you definitively say that one choice is better than the other? With a pros and cons list, of course!

So let’s talk about what makes home buying a great option for military families and what might point you to renting.

Financial Literacy for Kids in 3 Simple Lessons

by M:M Command Team | Feb 28, 2020 | Blog, Financial Planning, Partner Post

As parents, one of the most important things we can do for our children is to build financial literacy. After all, if we’re not careful, time can slip away and our children will enter adulthood with no experience managing their own finances.

Use the following lessons as a guide for teaching your children basic financial principles that will help them as they grow into adulthood.

9 Details that Boost Your Home’s Resale Value

by MilitaryByOwner Advertising Inc | Jan 24, 2020 | Blog, Expert, PCS

As military families on the move, we focus a lot on personal wish lists when we’re looking to buy our next home. Since we move around a lot (like, a lot, a lot), we have the opportunity to try out a ton of different properties and discover all the things we want in a home and all the things we don’t. Then, if we decide to buy a home at our next duty station, we look for one that encompasses as many of the right things as possible.

Don’t Open an Account: Open a Financial Dialogue

by Hope For The Warriors | Jan 20, 2020 | Blog, Expert, Financial Planning

For many military families, financial awareness and wellness don’t pose a problem; all parties are on the same page when it comes to family finances.

But for many, a lack of financial awareness and wellness creates not only a financial crisis, but can cause a seismic rift between partners.

There are plenty of warning signs, but too often one or both partners play the role of the proverbial ostrich with his head in the sand . . . they just ignore the warnings and keep spending full speed ahead.

If you are worrying about bills, getting out of debt, living paycheck to paycheck, and not having enough money to cover bills, or if you don’t know the total amount of debt owed by your family, or the interest that’s being paid on that debt, there’s probably a problem.

Creating a Mom-Guilt-Free New Year

by Retired Blogger | Jan 2, 2020 | Blog, Experience, Financial Planning, Household 6

The weary woman glanced around her house and sighed. With the holiday season officially over, she was at a loss for what to do with her family for the next couple of months. Christmas movies had been played and replayed and new toys had already become too familiar, but the kids were driving her crazy… so the woman wracked her brain for some kind of creative inspiration.

Limited options, however, made creativity hard. January meant no overspending because she and her husband had already agreed to stick to a strict budget and focus on saving. Sporadic trips to the movie theater, drives to the city, and visits to the children’s museum were supposed to be out of the question.

But while she stood there, feeling helpless and at a loss, Mom-Guilt reared its big, ugly head and nagged at her. You can’t just stay home, you need to give the kids experiences. You’ve got to push past your limit of too tired, you’ve got to spend money in order for your family to enjoy life. She could hear it, but she shook her head and ignored it for just a bit longer…

And that’s when she saw it. The pile of barely touched board games on the dining room table. Maybe, she thought.

Auto Insurance Empowerment

by M:M Command Team | Oct 31, 2019 | Blog, Partner Post

Exciting. Unpredictable. Challenging. Rewarding.

Ah, yes. The life of a milspouse. This lifestyle easily encompasses the above list of words…and then some.

Another word I would add to describe the military spouse life is “educational.” In my ten plus years of loving my infantryman, I have learned a lot, like how to always write important dates or “plans” in pencil. And to never forget to check his uniform pockets for those sneaky ink pens before starting a load of laundry. Oh, and I’ve learned the power of “ish” when it comes to sharing any kind of time hacks about, well, anything.