Create a Budget
Budgeting helps you build a solid foundation for a successful financial future. Establish a budget that works for you and your family with these tips:
- Start by making sure you understand your military income and how often you’ll receive your pay.
- List out your monthly income and expenses—including your Basic Allowance for Housing (BAH)—to see how your money is being spent.
- Use our budgeting template to break your spending and plans down even further after you list out your monthly expenses.
- Check out tips on simple ways to trim spending and stick to your budget.
- Make sure you can use your money when and where you need to with Active Duty Checking®. You’ll receive up to $240 a year1 in ATM fee rebates, free military checks and early access to military pay with qualifying military direct deposit.
Pay Yourself First by Building an Emergency Fund
Life’s interruptions can’t be predicted. Be prepared for unexpected costs with an emergency fund.
- Aim to set aside 3 to 6 months worth of living expenses.
- Consider saving or investing extra money, once you've built an emergency fund and paid your expenses.
- Start building your savings quickly with our Special EasyStartSM Certificate, where you can earn over $100 in a year.
Manage Your Credit
Building your credit history ensures you'll be able to qualify for various types of credit in the future. Here are a few ways to effectively manage your credit and reduce your debt:
- Take time to learn about the differences between a credit report and a credit score, then review simple ways to build good credit.
- Be aware of predatory lenders who may use unfair or deceptive ways to entice you into taking a loan you may not want or need, or are unable to afford.
- Avoid payday loans—while convenient, these loans are often much more expensive than you may think.
- Learn how to avoid the pitfall of too much debt by understanding and managing credit cards effectively.
Prepare for the Future
No matter how long you plan to stay in the military, take advantage of special savings opportunities and tax breaks with your servicemember status.
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Up to $20.00 in ATM fee rebates per statement period.↵