If You’re Married To a Military Officer, Here’s Some Financial Advice Your Family Could Use
Maintaining a family isn’t easy. And that’s just for regular people. For families where one partner is away protecting the country, it’s doubly challenging. In such families, it’s the job of the partner at home to take care of everything – he/she has to be the parent, the cook, the driver, and the tutor. And one of the biggest headaches for such a person is handling the household finances.
If you’re a military spouse and taking of everything on your own while your significant other holds the border, first, we salute you, and second, we feel for you. But friend, you’ve got to worry no more, because here we have some painkillers for your sores.
So, just bear with us, get a glass of water (wine is a good idea, too), and read on!
Read – Life as a Military Spouse
Make your budget work
Just like everyone else, a military home, too, should have a monthly budget based on members’ preferences. Okay, you can move a few things up and down in the name of being frugal, but you should take care not to let your expenses exceed your family income. Ensure that whatever you’re putting on the budget is actually needed.
Plan your savings
It’s surprising how people underestimate the power of planning. There are different ways to plan how your family can be financially stable. You and your spouse can decide to save a particular amount every month. That way, in the long run, your family will have something to bank on when your partner is out of service. It will even serve as a wildcard if there are unexpected events like deployments or income disruptions.
Cut your expenses
You need to control how you spend money. No matter how much you put on your budget, there will be some cases in which you have to spend. Thus, from the very start, make sure that you’re spending only on necessary things. Cut the rate at which you eat in restaurants, buy food in bulk, or go to farmers’ markets to get reasonable stuff. We don’t mean stop enjoying altogether, but just keep an eye out for frivolous expenditure.
Enlighten your kids financially
Kids don’t care about how you got the cake on the table; they just want to munch on it. If you don’t get them their favorite chocolate, prepare for a battle in the house! Well, there are ways you can handle your kids such that they feel contented. You can sit them down and explain the reality of things in a fun way. Advise them on financial management if they’re old enough. This will help build their financial intelligence as well.
The bottom line
We can all agree that family management is demanding. But there are ways in which you can ease the stress. If you decide to employ the tips above, you’ll be doing your family an excellent service.
More in financial advisor
The Best Moments When You Need To Revisit Your Financial Plans
Sometimes, life doesn’t go as planned. One day you get what you want, and the next, well, you know the drill....September 10, 2020
Debunking Real Estate Career Myths
Are you a young graduate looking for a job? If yes, are you looking for a career in the real estate...September 5, 2020
Just Starting Off Your Military Career? You Don’t Want to Miss These Essential Tips
Being a soldier is one of the noblest professions out there. A career in the army, having the chance to protect your...September 2, 2020
Critical Money Advice From One of The World’s Most Successful Men
If you want a medical-related opinion, you go to a doctor, right? And not just any doctor, you try to find...September 2, 2020
Income Just Too Insufficient to Cut it? Here are Some Side-businesses Ideas to Complement Your Regular Income!
No matter where you live in the world, one thing is definite for all- the cost of living is growing tremendously...August 29, 2020
Reinvent Yourself for the Career of Your Dreams- The Only Guideline You Need in this Time of Crisis
When unexpected events disrupt our habitual routines or nudge you out of your comfort zone, you can’t help but question your...August 27, 2020
Millennials Have Traditionally Been The Key Financial Decision-Makers. But, Do They Still Matter?
Are millennials worth the hype given to them by the media? Isn’t that what keeps bothering industry moguls and experts across...August 25, 2020
Should You Consider Buying Residential Property During Coronavirus?
With the effects of Coronavirus mellowing down across the world, life has slowly started returning to normal. Though most people and...August 22, 2020
What Does the Perfect Recommendation Letter Demand? Letter Writing Tips from Expert Scientists
Recommendation letters are pretty important- there’s no denying that. When you’re an undergrad, you’d need one for your application to graduate...August 20, 2020