By: Laura Royer
There is no doubt that deployment can have a significant impact on a military family’s finances. Part one of this series focused on helping military families prepare finances for deployment. In this article, the focus is on managing finances during deployment and returning from deployment.
Managing Finances During Deployment
If a financial management and budgeting plan is properly in place, managing finances during deployment should be far less stressful. Both the deployed Service member and their spouse, or designated family member, should strictly adhere to the budget set pre-deployment. Keeping an open line of communication is necessary to mitigate any unforeseen expenses or issues with the budget.
Any spouses that remain stateside should be aware of any special discounts or programs available to the families of deployed Service members. Many stores and companies offer discounts to military members that the spouse can take advantage of to help alleviate any budget constraints.
In the time of need, spouses may also turn to various military or veteran service organizations that may be able to provide support if necessary.
Returning from Deployment
Many families wish to throw their Service member a welcome home party. Depending upon the party plans, the extra, last-minute expenses for the party can negatively impact the budget for the first couple of months post-deployment. Knowing that post-deployment parties are a common practice, extra funds for the celebration can be saved throughout the deployment period.
While deployments, in general, will always have some elements of stress for Service members and their families, implementing these tips can significantly reduce at minimum the financial stress that often arises during and post-deployment. The key is for your clients to have a plan in place for when a deployment occurs. It will be one less stressor on the Service member and his or her family.