Military Monday – Military Money News You Can Use

by | 06Aug2018 | NDAA, PCS, Savings Deposit Program, Travel, TRICARE | 0 comments

It’s Monday, so I wanted to give you some military-specific financial news that you can use. Click on the titles to read the articles, but I summarize the content below each link so you’ll know which ones interest you.

 

$717 Billion Budget Critical to Rebuilding, Restoring Readiness, Pentagon Officials Say

This is a DoD news article about how Congress has passed the Fiscal Year 2019 National Defense Authorization Act. It raises service member pay by 2.6 percent, the largest raise in nine years. It also makes the other financial changes summarized in this post.

 

Here’s What Military Families Need to Know about the NDAA

This article is another summary of the NDAA and its impacts, which include the pay raise discussed above and:

  • No new TRICARE fees
  • No reduction in Basic Allowance for Housing
  • Provisions affecting military families such as spouse employment, children’s education, and other facets of military life

The details are in the article.

 

Household Goods Delayed? Here’s How to Make Your Inconvenience Claim

Some military families have experienced delays in getting their household goods this summer. If your belongings are delayed, you can file an inconvenience claim with the transportation service provider. These claims are separate from the claims for reimbursement for damage or loss to household goods that’s discovered at delivery, although both are filed with the transportation service provider.

Apparently the PCS move season has not been going smoothly, as detailed in this article about a shortage of movers.

 

How to Participate in the Military’s Savings Deposit Program

This 3:24 video from the FINRA Foundation tells you how to participate in the Savings Deposit Program, which allows you to earn 10% guaranteed on up to $10,000 when you are deployed to a combat zone:

 

More Dental Coverage, Spouse Employment Help Coming in Defense Bill

More NDAA stuff discussed here, including:

  • New dental plan options for active-duty families
  • Service members Group Life Insurance (SGLI) is automatic during combat deployments
  • Commissary and MWR access for more veterans
  • Employment help for military spouses

 

The Ultimate Guide to Airline Benefits for Military Families

This article goes over all the travel benefits for military families, like free TSA Precheck, military discounts, and the major airlines’ military baggage policies. It also reviews some of the credit cards that are best for military travelers.

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