Thanks! RT @brandyoucoach: #MoneyChat: Smart Finances For #Military Families by @TheMilitaryGuid http://buff.ly/1GhFlZw via @MoneyChatLive
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Thanks! RT @emmakviglucci: #MoneyChat: Smart Finances For #Military Families by @TheMilitaryGuid http://buff.ly/1HUcPVd via @MoneyChatLIVE
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Thanks! RT @plennoncoach: #MoneyChat: Smart Finances For #Military Families by @TheMilitaryGuid http://buff.ly/1JWhyWX via @MoneyChatLIVE
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Thanks! RT @CoachJenRulon: #MoneyChat: Smart Finances For #Military Families by @TheMilitaryGuid http://buff.ly/1HTeqZu via @MoneyChatLIVE
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Thanks! RT @bodyforcebrands: #MoneyChat Smart Finances For #Military Families by @TheMilitaryGuid http://buff.ly/1Tp9e3J via @MoneyChatLIVE
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MT @MoneyChatLive: #MoneyChat Recap: Smart Finances for #Military Families @TheMilitaryGuid http://buff.ly/1gmtfcP http://buff.ly/1gmte8K
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Mahalo nui loa hana hou to @MoneyChatLive for a great #MoneyChat! Followup post (many resource links) coming soon at http://www.themoneychat.com
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Absolutely! > "Bonus = amnesia. Save it and forget that you ever had it." @damondenson @MoneyChatLive #moneychat
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A6a: When the fun stops, consider leaving active duty. Don't risk your physical, mental, emotional health. #moneychat
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A6: "Save as much as you can for as long as you can." I'm a submariner, so I could live very very frugally... #moneychat
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Exactly! > @DorethiaConner That's right, life is for the livin' right?! Handle biz first, then live a little! #moneychat
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A5b: Maximize your contributions to your TSP and your Roth IRA. Save even more in taxable accounts! #moneychat
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A5a: After debt, have a little bonus fun. Set aside 5% for entertainment (more fun, not just more stuff). #moneychat
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TSP mandatory enrollment is one answer. #Military teaches financial responsibility, I help with #FinancialIndependence! #moneychat
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A4d: If mobilized, use Servicemembers Civil Relief Act to reduce interest on pre-service debt to 6%. (Credit cards, loans?) #moneychat
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Only about half of #military participate in TSP, fewer in SDP. More education & awareness needed! #moneychat
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A4c: Don't go on a spending spree when you get home. Please. Just enjoy being home with family! #moneychat
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A4b: Savings Deposit Program during deployment. 10% interest on up to $10K. #moneychat
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A4a: Pay is tax-free in a combat zone; save up to $53K/year in the Thrift Savings Plan. #moneychat
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A4: Automate your bill payments as much as possible. Save as much as you can. #moneychat
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A3c: Don't spend all of your housing allowance on rent-- pay utilities and save the rest. Smaller place? Roommates? #moneychat
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A3b: Don't buy a home on active duty. Buy/sell costs too high. Save to buy a home after active duty. #moneychat
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A3a: Off base: fewer rules. Schools and neighborhoods? Experience local life. But maybe traffic jams at gates. #moneychat
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Frugality changes for everyone at different times, but you'll know when you cross the line to deprivation. #moneychat
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A2a: Eliminate wasteful spending. Earn more: job change, promotions, or side hustle income. #moneychat
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A2: Yes! High savings rate: 40% of your pay for 20 years-- no pension required. 15% means you'll
be working for 40 years. #moneychat
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A2a: Another good budget question: how long are you willing to work to pay for that? #moneychat
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A1a: In budgets, be frugal but try not to cross the line into deprivation. Of course #military know deprivation. #moneychat
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A1: The "start here" solution: track your expenses, build a budget, spend only on the things you value. #moneychat
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Aloha me ka e komo mai, everyone! I'm ready for Q&A about #military finances and #FinancialIndependence. #moneychat
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