With summer, and inflation, it can feel like your money is stretched even more thin. That’s when it is even more important to have a spending plan. Personally, I think a monthly spending plan is the best way to manage your money. But if things are tight, it can be a project to get to… | Read More…
Long Pay Period Warning & Your Personal Finance Stress Test
This May 2022 end-of-month pay period is going to be long for all military service members. Every time we have a long pay period, Facebook explodes with conversations on this subject, and they provide a fascinating look into how people handle their money. Actual Military Paydays Because every month is not 28 days long, and… | Read More…
Your January Military Leave and Earnings Statement: 5 Things To Check
While it is important to review your military Leave and Earnings Statement every month, it is extra important whenever you have any changes. This includes things like a Permanent Change of Station move, a promotion, a time-in-service or regular annual raise, or any other action that could impact your pay and allowances. While these events… | Read More…
2022 Retired Military Paydays – With Printables
Military retirement pay comes once a month. It is paid on the 1st of the month unless the 1st is on a weekend or holiday, in which case it is paid on the previous business day (the last business day of the previous month.) Military retirement pay is paid in arrears, meaning that the payment… | Read More…
Social Security Tax Repayment: What To Do With A Corrected W-2
Most military service members are finishing up the Social Security tax repayment from the deferral that happened in the last part of 2020. This will be a change in your paycheck and you may get a corrected 2020 W-2. What Were The Deferral and Repayment? From September through December of 2020, Social Security taxes were… | Read More…
The Budget and the Debt Ceiling: How Government Shutdowns Could Affect Military Pay
Editor’s note: Every time I publish something like this, I get a bunch of people telling me that I’m being dramatic, that the military will always get paid, and that I’m being irresponsible for getting people upset. That’s not the intent at all. If you’ve spent any time at all around these parts, you know… | Read More…
2022 Navy Federal Active Duty Checking Military Paydays – with Printables
Looking for information on the upcoming paycheck? Find details at When Is The Next Military Payday? Navy Federal Credit Union (NFCU) is a very popular bank for military service members. NFCU has several types of checking accounts, and their Active Duty Checking account offers a variety of benefits including free checks, ATM rebates, and early crediting… | Read More…
2022 Active Duty Military Paydays – With Printables
While military pay is relatively easy, there can be some tricky bits. Military paydays are on the 15th of the month and the first of the following month, except when the 1st or 15th fall on a weekend or federal holiday. Then, the payday shifts to the business day prior to the weekend and/or holiday…. | Read More…
2022 Military Basic Allowance for Subsistence, or BAS
The 2022 Basic Allowance for Subsistence (BAS) rates have been announced. BAS is a non-taxable monetary allowance paid to all members of the military once they have left their basic military training, except for certain situations where the military is providing meals. It is a legacy from a time when military members were provided with… | Read More…
2022 USAA Military Pay Deposit Dates – With Printables
Looking for information on the upcoming paycheck? Find details at When Is The Next Military Payday? USAA is the most popular bank for military service members, and people want to know when their USAA military pay deposit dates will be. As a benefit to their military customers, USAA credits anticipated military pay one business day prior… | Read More…