#CreditChatWednesdays | 3 p.m. ET

MILITARY & MONEYCredit & Money Tips for Military Families

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about ways military families can improve

their finances and credit.

ex.pn/militarycredit

What financial challenges do military families struggle with?

#CreditChatWednesdays | 3 p.m. ET

#CreditChatWednesday | 3 p.m. ET

“Military families also struggle with the same challenges that all families do but can

be compounded by deployments, etc.”

- @StopFraudCo

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“Deployment, frequent relocation, financial predators can take a toll. Military families move 2.4 times as often as

civilians.”

- @veteransunited

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“Most ongoing challenge tends to be shifts in income and expense costs that come with

frequent relocation.”

- @JerryBuchko

Some military families relocate regularly. Any tips to save on moving?

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“Get empty boxes from your office or friends, pack your own boxes, U-Haul, and

sell any unnecessary items before you move.”

- @care4yourfuture

“If you are PCSing, there are new short sale protections for military homeowners. More information: veteransunited.com/futurehomeowners.”

- @veteransunited

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“Take advantage of military discounts, get friends and family to help out, and don’t

keep what you don’t need!”

- @LeslieHTayneEsq

What should military families do to prepare financially before deployment?

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“Automate your expenses and savings as much as possible, make sure your POA and

will are up-to-date and other legal documents.”

- @care4yourfuture

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“Make a plan and take advantage of more income and less expenses to pay down debt

and build savings.”

- J.J. Montanaro, @jj_USAA

#CreditChatWednesday | 3 p.m. ET

“Avoid money-related stress by planning ahead, keeping calm and setting goals.”

- @veteransunited

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“Set goals and make a plan that works for your family during deployment. Not

everyone has the same money goals.”

- Lacey Langford AFC, @FinanceLacey

What are ways to track money and pay bills when deployed overseas?

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“When deployed overseas, set up automatic payments that way you don’t have to worry

about missing payments or internet service.”

- @ConsolidatedUS

“Automated bill paying is widely offered and helpful. Setting up Power of Attorney is important too.”

- @veteransunited

#CreditChatWednesdays | 3 p.m. ET

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“Use military-friendly investment companies that are tailored to serve

members’ needs.”

- @StacySmith0615

#CreditChatWednesday | 3 p.m. ET

“Use mobile access and reduce bandwidth, auto bill pay to avoid missed payments, and

make sure your spouse knows all.”

- J.J. Montanaro, @jj_USAA

What sorts of discounts and financial benefits can military families get?

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“If serving in designated combat zones, boost your savings with DoD Savings

Deposit Program (SDP).”

- @AirForceFCU

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“Military personnel can receive discounts at restaurants, retail stores and online shopping.”

- @Rod_Griffin

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“The sky's the limit when it comes to military discounts. Always, always ask

before you buy!!”

- @StacySmith0615

What should military families know about VA loans?

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“VA loans are for primary residences only, don’t have a prepayment penalty, and don’t

have mortgage insurance.”

- @LeslieHTayneEsq

#CreditChatWednesday | 3 p.m. ET

“VA loans have huge financial benefits for military families. No or low money down, no PMI, etc. VA Home Loan benefits

can be re-used, but millions of veterans are aware of them.”

- @veteransunited

#CreditChatWednesday | 3 p.m. ET

“VA loans are provided at favorable terms to help service members, veterans and

eligible surviving spouses buy, build, repair, retain homes.”

- @ConsolidatedUS

What educational benefits are available to vets and those in military?

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“For private schools, the Yellow Ribbon Program is a provision that helps subsidize

the costs of private college costs.”

- @care4yourfuture

#CreditChatWednesday | 3 p.m. ET

“Post 9/11 GI Bill. Don’t let the best education benefit in the world go to waste. Military families TA while on active

duty.”

- J.J. Montanaro, @jj_USAA

Where can military families go to get financial help?

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“The American Legion provides emergency cash grants for children of service members

and USA Care helps vets pay for housing.”

- @LeslieHTayneEsq

#CreditChatWednesday | 3 p.m. ET

“Start close to home with a Military and Family Readiness Center, and of course, @USAA and @usaaef.”

- J.J. Montanaro, @jj_USAA

#CreditChatWednesday | 3 p.m. ET

“If debt is your issue, call a non-profit credit counseling agency. Credit counseling and

budgeting is free.”

- @StacySmith0615

What are ways for civilians to help support military families and vets in need?

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“Reach out to the service member’s family during the deployment, say how and when

you can help them.”

- @AirForceFCU

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“Hire veterans! This is an amazing demographic with unique skills and expertise. It’s saying thanks and smart

business.”

- @veteransunited

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“Support organizations that support military families NMCRS, AFAS, AER.”

- J.J. Montanaro, @jj_USAA

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“There are many ways to help. Even offering emotional support or helping with their kids

or chores can make a big impact.”

- @LeslieHTayneEsq

What financial advice do you have for those transitioning to civilian life?

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“Before transitioning, build a transition fund, save 9 to 12 months of living

expenses.”

- @AirForceFCU

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“Stay on top of your credit history. Get a free report every 4 months: 1.usa.gov/1cWSBIB.”

- @veteransunited

#CreditChatWednesday | 3 p.m. ET

“Preparation and communication are key to transitioning to civilian life. With force

reduction it could be sooner than you think.”

- Lacey Langford AFC, @FinanceLacey

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“Leverage tools, resources, orgs out there to assist: @USAA, @HiringOurHeroes,

@IVMFSyracuseU.”

- J.J. Montanaro, @jj_USAA

Military retirement is changing in 2018, what do military families need to know and how should they prepare?

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“The new plan is a blend of a pension and investment plan. No more traditional 20-

year, all-or-nothing retirement plans.”

- @care4yourfuture

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“Contribute to TSP, or look at alternatives for saving. Here are five options: veteransunited.com/money.”

- @veteransunited

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“Lots still to be worked out, watch news, contribute to TSP and start planning for

Military Retirement Decisions 2018.”

- J.J. Montanaro, @jj_USAA

With all the changes and uncertainty in military life, what can military families do to stack the deck in their favor?

#CreditChatWednesdays | 3 p.m. ET

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“Knowing your goals and what’s important to your family will make quick financial

decisions a little easier.”

- Lacey Langford AFC, @FinanceLacey

#CreditChatWednesday | 3 p.m. ET

“Do basics right: emergency fund, save, invest for future, have money talks to help

prepare for anything. Make your voice heard through organizations like Military Officer, Blue Star Family. Take BSF Survey

today!”

- J.J. Montanaro, @jj_USAA

#CreditChatWednesday | 3 p.m. ET

“Stay informed. Our Veterans United Network is a great resource for veterans and military families.”

- @veteransunited

#CreditChatWednesday | 3 p.m. ET

“Like with all things finance, you can plan ahead. Get your emergency fund in order in

case life throws you a curveball.”

- @Kasasa

#CreditChatWednesdays | 3 p.m. ET

Check out all the resources and tips shared:

ex.pn/militarycredit

#CreditChatWednesdays | 3 p.m. ET

Join Us Every Wednesday at 3 p.m. ET.

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