![](https://militarybud.com/wp-content/uploads/2020/09/Depositphotos_138221324_s-2019-min-1000x600.jpg)
Military Families Share their most Precious Financial Advice
![](https://militarybud.com/wp-content/uploads/2020/09/Depositphotos_138221324_s-2019-min-1000x600.jpg)
Earlier this year, before the world was forced to deal with the grueling havoc that is the pandemic, all over the United States of America, the MilspouseFest was taking place.
MilspouseFest is a special event organized for and exclusive to military personnel and their families across the USA. The event provides an opportunity for these families to network, find new friends, and genuinely have a good time.
![](https://militarybud.com/wp-content/uploads/2020/09/ETaPZ5bXQAAsFgl-min-e1599033255607.jpg)
Twitter | MilspouseFest, San Antonio 2020
So, with so many brilliant military heads gathered together, you just have to take advantage and make the most of the situation. There would be no better time to rack their brains to uncover the treasure that is their precious financial advice- how do these couples make their finances work?
Here are some of the tips that these mil-heads shared with us:
1. Spend less than you earn
Essentially, you would be required to “work both ends” of your budget. By no means do these couples suggest cutting back on your expenses or trying to save a lot actively. Most of these spouses suggested having a side hustle: a secondary job, a small business, selling off unnecessary belongings, to make a little extra on the side. You just have to be creative about your income sources and make sure that you don’t fall for the credit card trap.
![](https://militarybud.com/wp-content/uploads/2020/09/Depositphotos_69202269_s-2019-min-e1599033289375.jpg)
Deposit Photos | Look into other possible revenue streams
2. Start planning asap
Most, if not all, military couples strongly believe in the importance of planning. They suggest sitting down with your spouse and discussing the amount you’re looking to save for retirement. Even you’re starting with $5 per day, just start.
From experience, military couples are well aware of the uncertainties of life- from dealing with income disruption, unexpected PCS moves, and deployments, you never really know what’s coming. In times like these, having some savings on the side can really help the family stay afloat.
3. Raise financially savvy children
It’s surprising how many military couples think that it’s absolutely vital to instill financial knowledge in their kids. Starting from piggy banks to shopping lists, these couples realize the importance of nurturing lifelong skills and habits in their children.
![](https://militarybud.com/wp-content/uploads/2020/09/Depositphotos_145763781_s-2019-min-e1599291683887.jpg)
Deposit Photos | Military kids have a knack for saving
All this advice was given before the pandemic took over and sent us all into lockdown. How many of these military couples do you think were unprepared for this dilemma? Our guess is- none of them. With financial practices and advice that they revealed, we’re sure that most of these military couples’ tips helped them get through the economic recession in a better and more stable condition than the rest of us.
More inLifestyle
-
`
Can’t Get Enough: Fans Rave Over Trader Joe’s Indulgent New Raspberry Treat
Trader Joe’s is known for its unique and often seasonal products that create serious buzz among its loyal customers. Their latest...
March 6, 2024 -
`
Key Questions You Should Ask Your Couples Therapist
Can You Share Your Views on Commitment and Change in Relationships? Before you dive deep into therapy, understanding your therapist’s fundamental...
February 27, 2024 -
`
The Secret to Long-Lasting Relationships? Embracing Conflicts – Not Avoiding Them!
Contrary to popular belief, conflicts are not merely obstacles to be avoided but are opportunities for growth, understanding, and deeper intimacy....
February 24, 2024 -
`
Maintain These Healthy Lifestyle Habits to Age Like ‘Super-Agers’
The quest for ageless aging is not about eluding time. It is about living your best life, irrespective of the chronological...
February 15, 2024 -
`
What Does It Take to Make the All-Time Favorite Taco at Taco Bell?
The making of a Taco Bell taco is more like an orchestra where each ingredient plays a crucial part. Let’s peel...
February 10, 2024 -
`
As Inflation Cools Down, the U.S. Economy Might Be on the Right Track in 2024
As we wave goodbye to 2023, the American economy finds itself in a fascinating phase of its journey, straddling the fine...
February 3, 2024 -
`
Compassion Fatigue Unveiled: A Deep Dive Into Emotional Exhaustion
Have you ever walked through life feeling like you’re wearing someone else’s emotional shoes? Like your heart is a sponge, soaking...
January 28, 2024 -
`
The Quest for the Perfect Rotisserie Chicken: Who Makes It Best?
Picture this: You walk into a grocery store, and the tantalizing aroma of rotisserie chicken hits you. The sizzling, savory scent...
January 18, 2024 -
`
Discover the Flavor Trends: America DoorDash Delights of 2023
In the ever-evolving landscape of modern life, where we haven’t quite reached flying cars or underwater cities, we’ve certainly embraced the...
January 9, 2024
You must be logged in to post a comment Login