Written by: Barbara Breutinger, Family Financial Counseling Student Intern, University of Kentucky, Kristen Jowers, MS, & Nichole Huff, Ph.D, CLFE
Each year, more than 400,000 military families make a Permanent Change of Station (PCS) move (Military OneSource, 2025). Moving can be a stressful time for service members and connected family members because there are so many things that must be managed. When military families receive PCS orders, they may have to sell (and buy) a house, coordinate moving their personal property, switch their children’s school or daycare, or even learn a new language.
Sometimes hard-earned money gets lost in the shuffle, left behind in a forgotten account such as a security deposit from a landlord or utility company, a tax return, money in a bank account, or an insurance policy. Before relocating, military families should empty and close safe deposit boxes that may hold valuable items such as jewelry and important documents. Creating a list ahead of time can prevent last-minute lapses in memory when there is so much to do.
Money Moving Checklist
- Security Deposit Landlord
- Security Deposit Utilities
- Tax Refund
- Bank Account Funds
- Insurance Policy
- Spouse Retirement
- Mail Forwarding USPS
- Change of Address on all accounts
- Credit Freeze Credit Bureaus
- Empty Safe Deposit Box
- Empty Storage Unit
- Retrieve Borrowed Items
- School Lunch Accounts
- Prepaid Accounts
Mail Considerations
Mail forwarding from the US Postal Service can help make moving transitions easier, but this is only good for one year and does not include all types of mail. For example, marketing mail is typically not forwarded. This means that pre-approved credit card offers will be mailed to the new owner of their previous home. This can be an easy way for someone to open a fraudulent account. Signing up for electronic communication only for the businesses they would like to keep in touch with can reduce physical mail and limit offers being sent to a former address. Service members and spouses will also want to notify the IRS of address changes. If the PCS causes a military spouse to change employment, they may overlook contributions to a 401(k) if a forwarding address is not left on file.
Protect Against Identity Theft
One way to avoid identity theft during a PCS move is to place a security freeze with the three credit bureaus (Experian, TransUnion, and Equifax). Active-duty members can place an active-duty fraud alert, similar to a credit freeze, but for one year (renewed for the length of deployment) by contacting one of the three credit bureaus. The active duty fraud alert also takes service members off of marketing lists for credit and insurance offers for two years.
Find Lost Money
To find money that may have been left behind during a prior move, encourage your clients to check with each state where they have lived for unclaimed property by searching “[State Name] Unclaimed Property.” Some entities, such as a bank or landlord, should be contacted directly. For specific instances of lost money, visit government websites such as:
- Treasury Direct Treasury Hunt to search for matured savings bonds
- Internal Revenue Service (IRS) Tax Refund Trace
- U.S. Department of Veterans Affairs (VA) Unclaimed Funds Search
- Department of Labor for Workers Owed Wages
Basic Allowance for Housing
In addition to helping military families make sure their money moves with them, service providers can also help clients understand their entitlements for their new duty station, such as the Basic Allowance for Housing (BAH) for moves within the continental United States (CONUS) or Overseas Housing Allowance (OHA) for moves outside of the continental United States (OCONUS). Monthly allowances are calculated by the location, dependents, and pay grade and are reviewed annually.
With a little planning and a thorough checklist, military families can make sure their money moves with them, safeguarding their finances and peace of mind this PCS season and all year long.
References
Military OneSource. (2025, January 8). PCS: The basics about permanent change of station. https://www.militaryonesource.mil/moving-pcs/plan-to-move/pcs-the-basics-about-permanent-change-of-station/
Military OneSource (n.d.) Plan my move. https://planmymove.militaryonesource.mil/
Office of Financial Readiness. (n.d.) Ease military transitions through financial planning. https://finred.usalearning.gov/Planning/EaseTransitions
Office of Financial Readiness. (n.d.) Protect your finances during PCS. https://finred.usalearning.gov/Consumer-Protections/ProtectFinancesPCS
USA.gov (2024). How to find unclaimed money from the government. https://www.usa.gov/unclaimed-money
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