KateHorrell

Helping Military Families Make The Most of Their Money

BAH Rate Protection (or The Grandfather Clause)


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As the Department of Defense (DoD) gets ready to release the 2023 Basic Allowance for Housing rates, this is a perfect time to review BAH rate protection, or “the grandfather clause.” (Rates are usually announced on or around the 15th of December.) Each year, the DoD does a thorough study of the actual costs to… | Read More…

Capital Gains Rules for Military Families


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Note:  This is not professional tax advice. While I have confirmed this information with various professionals, do not take my word for it. Read the tax rules yourself (link at the bottom.) Then, consult with your tax professional to see how the rules apply to you. Capital Gains? What the heck are they, and when… | Read More…

Evacuations, Military Entitlements, and Insurance Coverage


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We’re watching Hurricane Ian, and people are making hard decisions. Many military families are wondering if they should evacuate, and when and if the military or their insurance company will help with expenses if they evacuate from the path of a hurricane. There are some times when the military will pay families to evacuate a… | Read More…

Why Does My Mortgage Payment Change From Year To Year? How Mortgage Escrow Works


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One of the most confusing parts of having a mortgage is understanding how the payment on your fixed-rate mortgage can change, usually every single year. In order to understand why your payment changes, you need to know your escrow account works. An escrow account is an account that pays different bills related to the property…. | Read More…

How To Budget With Overseas Housing Allowance


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When you live overseas, off-base, you receive an Overseas Housing Allowance. OHA pays for your rent (up to a limit) and also provides you with an allowance for your utilities. There are two tricky things about OHA. The amount of dollars paid changes every month, with the exchange rate, and the bills it is supposed… | Read More…

Advance Basic Allowance For Housing (BAH) – Yes, It’s a Thing!


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One little-known aspect of the military pay and allowance system is the ability to request advance payment of your Basic Allowance for Housing (BAH). While this opportunity has been around since 1999, you will still find that most admin folks and senior leadership are completely unaware that it even exists. And, unfortunately, even those who… | Read More…

The Simplest Reason Why Renting Will Save You Money


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“Renting is too expensive, so I’m going to buy a house.” I hear some variation on this statement at least once a week. This perspective worries me, because further discussion usually uncovers some misconceptions about the cost of owning a home. Airman Mildollar, the author of the currently-on-hiatus-but-hopefully-coming-back-one-day Military Dollar blog, introduced me to a… | Read More…

2022 Military Basic Allowance for Housing (BAH) Rates


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They’re out!  Go see!  The Department of Defense has announced the 2022 military basic allowance for housing rates! As usual, there will be some big winners and some big losers. (If you are on an iPhone and reading this on Facebook, you may need to open this page using the three dots instead of clicking… | Read More…

Five Things You Need To Know About The New BAH Rates


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Military families across the country are waiting anxiously to see what their Basic Allowance for Housing (BAH) rates will be in 2023. (The new bah rates are usually announced on or around 15 December.) With housing prices going up significantly in many areas, many have their fingers crossed for a big increase for next year…. | Read More…

How Much Should Military BAH Pay For?


This post may contain affiliate links, from which I may earn revenue to support this free site. All opinions are my own, and I only promote products that I use and love!

I was at a really great military spouse event a few years ago and someone mentioned that the military’s Basic Allowance for Housing (military BAH) doesn’t always cover the cost of housing. It’s true that a lot of military families spend more than their BAH on housing. I hear things like this all the time,… | Read More…

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Disclaimer

Kate does not represent the Department of Defense, the Department of Veterans Affairs, or any government agency. This blog is strictly for informational and entertainment purposes only. The content on this site should not be considered professional financial or legal advice. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. All reviews on this site represent the personal opinions of the author. All references to third party products, rates, and offers may change without notice.