Three financial tips for returning active duty military servicemembers.
As thousands of active duty military servicemembers return home from overseas deployment, many face financial pressures unique to their situation.
We talk numbers with Scott Halliwell, a Certified Financial Planner with USAA, a financial services company for 9.6 million military personnel and their families.
According to USAA’s surveys, nearly two-thirds of those surveyed are under at least some amount of personal financial stress. A little more than half don’t have money set aside for emergencies and a quarter have nothing set aside for retirement.
Halliwell has three basic tips that can help returning men and women with their financial fitness.
1. Reconnect with your finances: Pay down debt
Halliwell says: “If you think about what goes in a deployment, a lot of the normal, day-to-day finances change. It’s important for people to reconnect so that they can begin the process of paying down debt. There’s a lot of