Military Report

Financial news from the Military.com Military Report dated June 29, 2009:

Special Duty Assignment Pay Revised

Deal of the Week: Military Coupons

AF Increases Special Duty Pay

Tuition Assistance Overview and Benefit Pay Out

How to Lay Old Glory to Rest

New Military.com GI Bill Calculator

What Comes After SGLI?

Featured Job: Government Law Enforcement

How Much Can You Afford on a House?

New Online Housing Referral Network

Website Opens for Post-9/11 GI Bill

AFFES Helps Deployed Troops Call Home

Navy to Issue PCS Orders

Air Force Modifies PCS Policies

Navy Suspends Bonus Program

Exchanges Offer Firestone Car Centers

Special Duty Assignment Pay Revised
The U.S. Navy recently announced revisions in special duty assignment pay (SDAP), which take effect July 26. More

Deal of the Week: Military Coupons
Military.com has hundreds of discounts exclusively for servicemembers, veterans, retirees, and their families. More

AF Increases Special Duty Pay
Pentagon officials recently increased Special Duty Assignment Pay (SDAP) for Military Training Instructors (MTIs). More

Tuition Assistance Overview and Benefit Pay Out
Armed Forces Tuition Assistance (TA) is a benefit paid to eligible members of the Army, Navy, Marines, Air Force, and Coast Guard. More

How to Lay Old Glory to Rest
We raised our flags September 11, 2001 and flew them proudly. Our flags stand tall as we leave our mark on foreign soil. More

New Military.com GI Bill Calculator
The new GI Bill offers several new benefits above and beyond anything previously offered. However, there are limitations as to how and where these benefits can be applied. More

What Comes After SGLI?
Servicemembers' Group Life Insurance coverage ends 120 days after you leave active duty service. Do you have plans for how you are going to meet your life insurance needs once your SGLI expires? More

Featured Job: Government Law Enforcement
Use your military experience to get an exciting career in law enforcement. More

How Much Can You Afford on a House?
The rule of thumb is that a military family can comfortably afford a home that is up to three times their average annual household income. More

New Online Housing Referral Network
The Department of Defense implemented its new Internet-based Automated Housing Referral Network to facilitate the long-distance house-hunting process More

Website Opens for Post-9/11 GI Bill
The Defense Department signed off June 22 on policies and procedures servicemembers will use to transfer their unused Post-9/11 GI Bill benefits to their spouses or children. More

AFFES Helps Deployed Troops Call Home
Just in time for the Fourth of July, the Army & Air Force Exchange Service's "Help Our Troops Call Home" phone card program keeps American troops in touch with their families back home. More

Navy to Issue PCS Orders
The Navy announced it will resume issuing permanent change of station (PCS) orders following a three-month delay due to a budget shortfall. More

Air Force Modifies PCS Policies
Air Force officials modified two permanent change of station (PCS) policies to give Airmen more flexible assignment options and better force development opportunities. More

Navy Suspends Bonus Program
Based on the number of Sailors who enlisted this year under the selective re-enlistment bonus program the Navy reached its congressional authority funding limit for this fiscal year. More

Exchanges Offer Firestone Car Centers
The Army & Air Force Exchange Service (AAFES) is teaming up with Firestone Complete Auto Care to provide services at 30 Army posts and Air Force bases. More

It Pays to Ask

I hate wasting money, but it happens sometimes.  There are three places where I tend to lose money in large chunks:  not sending in rebates, not getting reimbursed for stuff, and making reservations or registrations that I don't use or forget to cancel.  Ack!  Just in the last week, I have a receipt for a taxi that I need to submit for reimbursement, a rebate for a computer purchase that needs to be sent, two hotel reservations to cancel, and a child that decided that that she absolutely, positively would not participate in the track program that she absolutely, positively wanted to do the week before.

I'd love to say that I took care of all four items, but I only did two.  Cancelling the reservations was quick and easy, but I am so proud of myself for how I handled the sports registration.  I've never asked for a refund for a kid's sport because I have always felt like it was my child's choice not to participate and it wasn't the program's fault that she changed her mind.  However, this was $125 and I told myself that it wouldn't hurt me to ask.  I emailed the head of the track program and explained that we'd tried it one time and that my daughter was overwhelmed by all the kids, and would it be possible to get a refund?  I only wrote to him last night, and I was delighted to discover that I already had a refund this morning!  Amazing!

The lesson I've learned today is that it doesn't cost anything to ask, and it might save you some money.  I'm going to remember this in the future and make a little more effort to save myself some money where I can.  And I'm going to hit those other two items on my to do list!

Quotable: Kahlil Gibran

"Money is like love; it kills slowly and painfully the one who withholds it, and enlivens the other who turns it on his fellow man."

GI Bill Transfer Details Announced

The transfer portion of the new GI Bill has been very exciting for many people, and lots of questions have now been answered.  The Department of Defense has released the final details of the new policy to allow the GI Bill benefits to be transferred to a spouse or eligible child.

Military service members are eligible to transfer their Post 9/11 GI Bill benefits to a spouse or child if:

• They have at least six years of active service (including active duty and selective reserve) and agree to serve an additional four years, or
• Have at least ten years of active service, are unable (by policy or statute) to commit to an additional four years, and agree to serve for the maximum allowable service by said policy or statute.
• For service members eligible to retire between August 1, 2009 and August 1, 2012, there is a phased-in requirement for continued service, up to three years.

The full Pentagon policy is located here.  This is an amazing benefit for military members so be sure to learn all the details and figure out the best way for it to benefit your family.  Whoohoo!

Want a New Car? Try This Plan

A family member recently told me that she was going to buy a new car.  She still owed on her old car, and she was asking me the best way to organize the financing of the new car with the existing loan on her old car.  I know this has become a popular and common practice lately, but it is a bad idea.  So this is what I suggested to her:

Figure out how much your new car payment will be (it's rarely less than your current car payment) and make that car payment for a year.  (Six months if you are impatient.)  If you have an existing loan, you will have paid it down significantly, or hopefully you will have paid it off.  If you are currently without a car payment, it will help you accumulate a significant down payment for your next car.

Obviously, there are situations where you can't do this, but it is a sound strategy for most usual circumstances.  Not only are you playing smart with your existing money but you are also proving to yourself that you can afford that new, higher car payment without making yourself broke.

Operation Homefront Scholarship

Operation Homefront has announced it's 2009 Military Spouse Scholarship Program.  The scholarship offers 37 awards between $10,000 and $1,500 and the application deadline is July 15th.

The scholarship award is available to spouses of military service members for study at  a four-year college or university, graduate school, accredited trade school, certificate program, vocational school or community college. The applicant must be the spouse of a military member currently serving on active duty, whether active duty, Reserve or a member of the United States National Guard (Reserves or National Guard qualify if they have served 180 combined days of full time military duty since January 1, 2007).

Selection for the scholarship will be made by a panel of judges and the award will be scored in three areas: the applicant’s response to the essay question, his or her commitment to volunteerism and grade point average.  Applications are available at Operation Homefront (the link is about half way down on the right hand side).

Another Twist on the Income Debate

Lots of people at various stages of their lives are considering the choice to lower their income, whether you are retiring from the military and deciding what to do next, or considering one person leaving the paid work force to care for children or parents, or any number of other reasons.

I just read an excellent post by Philip Brewer at Wise Bread, talking about how he needs a lot less income than he thought.  Philip makes some excellent points about taxes and savings, but I find most interesting his thoughts on time and spending.  One of the things I've been battling with is the economy of using my time to save money versus using my time to make money.  Both are viable options, and I've had the wonderful opportunity to experience both sides of the equation.  I've learned some really powerful things along the way, mostly stuff that Philip mentions in his article.  When I'm working, I'm not able to do serious comparison shopping, I rarely use coupons, and I'm sure as heck not doing some amazing price-matching, double-couponing, mail-in-rebating triple play that results in me getting money back for buying stuff.

Traditional "can you afford to stay home" calculations always include taxes, and they usually includes stuff like work clothes, commuting costs, and day care, but they rarely include the value of being able to use your money wisely (except for a brief mention about picking up dinner after a work day.)  Using your time as a dollar-stretching tool can make the difference between needing to work and having the flexibility to do what you want to do.  Of course, this make the assumption that you have an interest in this type of work:  tracking down bargains, searching out deals, and pinching pennies is hard work.

While this certainly doesn't make any income related decision much easier, it is another useful piece of information to add into the equation.

Quotable: Tolstoy

"Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal—that there is no human relationship between master and slave. "

Military Report

Here's the weekly roundup of financial information from the Military.comMilitary Report :

TRICARE Prime Travel Access Standards Changes

Deal of the Week: Free Trial of Men's Health

Your New GI Bill Tuition and Fee Rate

Navy COOL Program Helps Sailors

What to Look for When Buying a New Home

Navy Mutual Offers $1M of Coverage

Maryland Guard Education Benefits

New GI Bill Advice: Get It In Writing

Test Software Available

Free Entry to National Parks

Special AAFES Offers for Good Students

Many Colleges Pass On GI Bill 'Ribbon'

Military.com provides you with news you can use!

A Frugal Fitness Update

As I mentioned back in April, I've been on a mission to get thin, wealthy, and organized while my husband is deployed.  I can't really comment on the last two (though I'm doing OK on the middle one) but I can say that I'm having pretty good success with my first goal.  And it has been free!

I'm about 1/3 of the way through my weight loss goal for the year, which I think is pretty good considering that I didn't really get serious until two months ago.  The thing that amazes me is that it really hasn't been that hard.  It was just a matter of finding the right tools to help me.  I'm a little addicted to the computer - I'm always on it, working, playing, or talking to my husband (or hoping to).  I was so lucky that a commenter at SpouseBUZZ mentioned myfitnesspal (MFP).  It has truly changed my life.  MFP offers a few tools - a food diary with calorie calculator, an exercise diary (also with calorie calculator), a place to keep track of your weight and measurements, a reports section that shows how you've progressed, and an online community section, where you can share frustrations, successes, recipes and exercise thoughts.  You can participate as much or as little as you like, and it is all free.  I haven't received any spammy emails or other questionable contact because of my registration at MFP, but I have lost a nice chunk of weight, I'm eating great, and I'm exercising more than ever.  Best of all, it is free!

If you are looking for some motivation to start on a fitness goal, or need a little extra push to keep moving forward, you should check out myfitnesspal.  It has been a great blessing to me, and I'm sure it will be a good tool for some of you as well.

Random Free Stuff

As usual, there is a selection of free stuff to be found on the internet today.  I'm always amazed at people who find gobs of free stuff - it if doesn't come right across my email, I don't usually find it.

Here are today's offerings:

White Castle is offering One Free Original Sliderwith a printable coupon.  The coupon is good until July 12th.  Thanks Bargain Briana!

A&W Restaurants is celebrating their 90th Anniversary with Free Floats and 99 cent Papa Burgers.  (Also from Bargain Briana.)

TGIFridays is giving away a free appetizer or dessertif you sign up for their Club.  Also at TGIFridays, you can print off a coupon for Buy One Get One Free Entrees, good until June 22nd.

If usually see these offers and think "I'll never take advantage of that, so I'm not going to print out/sign up."  Then I find myself at one of these restaurants and think, "Oh, I should have snagged that coupon!"  I should print these out right now and add them to the restaurant coupon stash in my glove box.  Sometimes like is unpredictable!

Three Ways to Keep Track of Your Credit Card Purchases

For those of us who do choose to use credit cards, keeping track of your purchases is important.  I'm not good at it at all, so I've been researching and brainstorming ways to keep track of my purchases.  Here's the best of what I've found:

1. Keep all the reciepts, and log them (paper, computer, whatever) at home.
2. Keep a folded index card wrapped around your credit card, and write down each transaction before you sign the credit card slip.

3. Keep your credit card(s) in a checkbook cover with a checkbook register in it.  Use the checkbook register to keep a running tally of your purchases each billing cycle.

I'm sure there are more good ways to keep up with your charges, other than just waiting to pay the bill at the end of the month.  What do you do?

Ordering Checks? Options Abound...

I am nearly out of checks.  Really nearly out, as I've been nearly out for weeks.  And I need to order new checks today.  I know that there are lots of places to buy checks and I am overwhelmed by the options.  Where to start?

I began at Walmart Check Printing because I think that is where I bought my last batch.  The check prices seem pretty good, $13.97 for 300 duplicate checks, but the trackable shipping and handling was $7.70, bumping the total price up to $21.67.

I clicked on over to Navy Federal Credit Union, where the account is located.  Because it is an Active Duty Checking Account, basic (boring) checks are free.  However, you can only order 150 at a time, and trackable shipping is $9.95.  There is a bulk rate, non-trackable shipping that is free.  How do I feel about that?  Checks are the sort of thing that you probably want to keep track of, especially while they are traveling through the mail.  Hmmm....  They also have cute checks for $25.06 for 300, and shipping is $22.25!  Shazaam!

I wasn't sure where to check next, so I googled "checks."  A bunch of options popped up.  Many of them concerned me because I've read reports of people taking advantage of great "first time customer" offers only to find out that they've actually ordered from them before, sometimes even when the company had a different name, and then being charged high prices for their cheap checks.  One of the top listings was VistaPrint.  I've always had good luck with VistaPrint, so I looked to see what they were offering.  I found a cute check that I liked, for $14.23 for 300 checks. Shipping and handling is 10.26.

I quickly investigated a few other places and decided that these three were the tops for price, plus I feel comfortable sharing my personal information with these companies and I was a little skeptical of the other companies because I don't know them.  VistaPrint and Walmart are offering basically the same product and Walmart is a little bit cheaper.  The "free" Navy Federal checks end up being about the same price as the Walmart checks, when you include shipping and handling costs.  So I guess it is Walmart for me.

I've ordered from them before and I was quite happy.  I did spend a silly amount of time comparing my options, but I wanted to be able to share the results with you, so I feel like it was time well spent.  I'll let you know if there are any interesting updates to report.

New GI Bill Calculator: It's Ready to Use!

Military.com has some exciting news:  Our new GI Bill Calculator is ready to go.  This calculator will allow military members and veterans, spouses, guidence counselors and anyone else to figure the details of the new GI Bill, and compare the benefits of the post 9/11 GI Bill with the older Montgomery GI Bill.  I'm sure there are many of you who will find this new tool very valuable!

This new calculator is part of the overall effort to constantly improve the Education section of Military.com.  The team has been working hard to make it a clear and complete guide to all the educational benefits that can come from your military service.  The new GI Bill has dramatically increased the value of your education benefits - be sure to use them!

Quotable: Bob Thaves

"Money talks — but credit has an echo. "

NMFA E-news 9 June 2009

The National Military Family Association's 9 June 2009 E-news bulletin contains lots of useful and interesting information.  The financial relevant items are:

Association Testifies at Senate Military Family Hearing

Congress Holds Hearing on Support for Family Caregivers of Veterans

TRICARE Announces Change to MTF Access for Retirees

Military Youth Saves Contest

Be sure to check it out.

Reader Help Requested: Cell Phones and Deployment

A reader, we'll call her Sharon, recently wrote with questions about cell phones and deployment.  I'll be honest, I don't know anything about cell phones on deployment.  We briefly looked into whether or not my husband could use his phone while he was overseas, then decided that it was too much hassle and expense.  So I'm asking my readers to help Sharon.

Here's her situation:

I need help finding a cell phone/carrier that will be affordable and allow lots of good communication between me and my deployed hubby. He's probably going to Afghanistan but we don't know for sure yet. We currently have Blackberry phones. Do they work in Iraq and/or Afghanistan? Does an iPhone work? (i have been jonesing for one and if it's the better phone by golly, I'll switch!!)

I am looking to you for expert advice. Which carrier is best for military? Which phones do you recommend?

Any help you can offer will be greatly appreciated!

So, folks, what do you know?  Share the knowledge and I imagine that we'll help more than just Sharon.

Thank you!

 

(Re)Finding My Focus

I'm finding myself in an unusual situation lately.  With my husband deployed, and me working, we're meeting our 2009 financial goals without much pain.  I know that I'm lucky to be in such a situation, but it still makes me uncomfortable.  During the times when money is tight, I am great at squeezing the most out of every dollar.  Now that we are managing to live comfortably, I'm finding myself getting lazy and spending unnecessarily.  I need to get back to the basics of good financial planning and stick to them.  Where should I start?  Actually, it is pretty easy:

1. Assess the current situation.  That should be pretty painless, since I've been (trying to) use the monthly updates for my husband.

2. Update our budget.  We've used serious, down-to-the-penny budgets in the past.  While I'm happy to round to the nearest dollar or even five dollars, it is hard to be successful without following some sort of spending plan.  I've used everything from a simple sheet of paper with expenses to a complicated, Mary Hunt-style Freedom Account scheme, and they all have their advantages and disadvantages.  However, in my current chaotic "let's just get through today" mindset, my idea of a spending plan is that I'm fine as long as I don't bounce any checks.  That is really not making good use of our money.

3. Pick your battles, focus on your priorities, and keep it manageable.  There are a million ways that I could take serious control of our money.  I could unplug every lamp and alarm clock when I'm not using it, I could make sure everyone showers at the pool so that we don't use any hot water at home, and I could make my own laundry soap.  Realistically, though, none of those things are going to happen right now.  So where can I make changes?  There are lots of places to choose, but I'm going to try and focus on just one general area:  food.  I can start making menus again, to make sure that we use all the food we buy and that we aren't tempted to get Chinese because I have no idea what to cook.  I can start making grocery lists again, so that I don't end up with 16 boxes of couscous but no soup.   I can get the dust off my slow cookerand ensure that 5 pm isn't panic time.  I can take the time to cut coupons and teach my kids to help.  Why do I choose food?  First, in most families, food is the second biggest expense, after housing.  Second, I enjoy saving money on groceries.  I love the thrill of a good triple coupon extravaganza.  Third, having meals planned is good for my family's health and brings us together at the table regularly.  (Priceless!)

Keeping your family on financial track isn't painless, but it shouldn't be drudgery either.  Keep your eye on the goal and figure ways to make it fun, and you'll be successful!

Tricare Prime at your MTF

Faithful reader Marv, in Delaware, pointed out this interesting post in a recent MOAA email newsletter:

You could be Bounced from TRICARE Prime.

A new DoD policy aimed at “cleaning up” TRICARE Prime enrollment at military treatment facilities (MTF) could mean some significant changes for many Prime enrollees.

TRICARE has long had established travel access standards to help beneficiaries receive timely health care. The standards require that enrollees shouldn’t be assigned a primary care manager (PCM) at a military hospital or clinic that’s more than a 30-minute drive from the beneficiary’s home address.

As a practical matter, DoD never really enforced that policy. But it will be enforced now.

If they want to continue to be seen in the MTF, current Prime enrollees in the U.S. who live farther away than a 30-minute drive from the MTF will have to request a waiver of the drive-time standard from the MTF commander or the TRICARE Regional Office. Drive times will be determined by a computer program similar to MapQuest. Approved waivers will have to be renewed annually from now on.

Unless they apply for and are granted a waiver before October 1, enrollees who live more than 30 minutes (but less than 40 miles) from the MTF will be assigned a civilian primary care manager closer to their residence. Absent a waiver, those who live more than 40 miles from the MTF will be disenrolled from Prime and revert to TRICARE Standard as of October 1.

TRICARE contractors are mailing letters to all affected beneficiaries, providing detailed instructions on the waiver process.

I did a quick search on Google Maps and discovered that I live 26 minutes from my MTF.  While I do have occasional gripes with my MTF, I really don't want the hassle and inconvenience of changing my family's medical situation right now.  This is sure to be an interesting topic - keep your eyes out for more news as this develops.

Frugal Summer Fun for All Ages

I was wandering around the blogosphere today, and I stumbled across this excellent list of free summer activities at Couponing 101:  Free Fun All Summer Long.  Stephanie's compilation includes museums and parks, workshops, movies, books, and other fun stuff.  There is so much to do, I don't think that summer is going to be long enough.

If nothing on that list excites you, call or stop by your local base recreation or community services offices.  I'm always amazed at the number of events going on each month.  Between the military community and the civilian world, you are sure to find something to suit your situation.

Quotable: Jean Petit Senn

"Money dishonestly acquired is never worth its cost, while a good conscience never costs as much as it is worth. "

More Frugal Father's Day Fun

 

Thanks to Sarah at SpouseBUZZ, I heard about this neat-o kid craft event at Michael's craft stores this Saturday, June 6th.  From 10 am to 1 pm, your local Michael's will be helping kids make Father's Day cards, with plenty of time to mail them even if Dad is far away.  Plus, it's free!

10,001 Ways to Live Large on a Small Budget

Those crafty and clever authors at my favorite personal finance site, Wise Bread, have put together a fun and fantastic book:  10,001 Ways to Live Large on a Small Budget.  Chock full of great ideas on topics including travel, healthcare, groceries, housing, decorating, kids, clothing, you are sure to find great ideas for trimming your budget and living well.  The book is bargain priced at $10.17 on Amazon.com, and if you sign up as a new Ebates member, you'll get a $15.00 rebate.   If you add another book and go over $25.00, you'll get free shipping as well.  If you are wondering how to start being frugal, or need a little extra motivation to move ahead, this book is a great resource.

Work that Works for Military Spouses

Myscha Theriault, my friend and author at Wise Bread, has put together a nifty article about careers that suit military spouses:  Married to the Military:  Maintaining a Career as a Tag-Along Nomad.  Myscha has broken down the most prevalent career categories and discussed the pros and cons of each.  Check out her article and add your experience and ideas in the comments.

A Frugal Father's Day Gift for the Mid-Sized Set

With Father's Day coming up on us all too soon, I've been trying to think of yet another crafty gift that the kids can make for their dad, and Home Depot has come to the rescue.  Thanks to Bargain Briana who let me know that this weekend's kid workshop at Home Depot is a Hardware Sorter.   It is a rectangular box with six compartments.  It is designed to organize hardware, but I can think of several uses:  office supplies, the junk drawer, fishing gear.  I also happen to know one dad who has way too much uniform stuff and always needs a better way to store it all.

The Home Depot Kids Workshops are designed for kids 5 to 12 years old and a parent must remain with them during the workshop.  They run from 9 to 12 on the first Saturday of each month and online preregistration is required.