Layout:
Home > Deployed Finances

Deployed Finances

May 20th, 2008 at 05:53 am

I am not sure about some of you in the military but I rather enjoy doing finances while deployed.

1. When you see your paycheck you notice there are no federal taxes withheld (except fica, ss, med).

2. You also add in all the combat pay. $250 for family seperation, $225 for Hostile Fire pay, $100 for Hazardous Duty pay.

3. You expenses back on the homefront drop (if you are lucky) since my wife is only spending for herself and my son.

This is where a lot of us in the military get ourselves back in line. I could easily pay off my car loan in the next couple months. But why pay off a 3.9% loan when I can put money in the SDP.

The Savings Deposit Plan is somewhere where deployed service men and women can put in up to $10K and get a guaranteed 10% interest from Uncle Sam.

I was also lucky enough to have internet available for my laptop so I can update Quicken and have easy access to my finances.

- D

7 Responses to “Deployed Finances”

  1. aevans1206 Says:
    1211280748

    God bless and I hope you stay safe over there!

  2. mooshocker Says:
    1211293188

    Thank you for your service and thank you for your inspirational posts. God bless you.

  3. Ima saver Says:
    1211295287

    Thank you for all you are doing for this country!!

  4. ironicone Says:
    1211301898

    God bless you! I still think military members deserve more pay, especially while in a combat zone.

  5. creditcardfree Says:
    1211307986

    I absolutely agree. It is my DH who is in the Army, and since I always was the finance person, I continued while he was overseas. Expenses do go down considerably. Income is off the charts. I love being able to move some of his Traditional IRA money to a Roth...for $0 in taxes, since his income was all tax-free. It was even the one year we qualified for the earned income tax credit...in the year we earned the most income.

    Take care over there!

  6. terri77 Says:
    1211331464

    Good job and stay safe!

  7. Broken Arrow Says:
    1211374145

    Hehe, you're probably a rare one, but in a good way!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]