How Do Finances Work When Moving in the Military?
Find out what you can expect when it comes to finances and moving in the military.
Are you making plans for moving in the military? If so, you are probably trying to find out what kind of out-of-pocket expenses you can expect and what the military will cover for you. It’s true that the military will reimburse you for most expenses when you are going through a Permanent Change of Station, also known as a PCS. However, for many military families, additional expenses will crop up and the move can still be a costly experience—even if you have the military financial assistance.
The key to getting through the move without a huge drain on your own bank account is planning ahead. Get your finances in order, know what you can expect from your military coverage, and develop a strict budget to keep your expenses in check. This will help you to avoid spending a little here and a little there on unnecessary expenses that add up to major expenses over time.
What Will Be Covered?
The amount of money you will receive from the military will depend on your rank, your status, and your individual situation. It will also depend on the entitlement programs for which you qualify. It’s important to talk with your division’s Relocation, Transportation and Finance Office to get a clear picture regarding the entitlement programs available to you. This will help you to plan out your budget and know how much money you will need to save in advance.
Create a Budget and Stick to It
Just like any other costly times in your life, developing a budget for your military move is one of the smartest things you can do. Of course, you must take it one step farther than planning out the budget; you have to stick to it as if it were your marching orders.
From packing costs and transportation costs to meal costs and your first grocery store trip to restock your home, you will need to think about all of the expenses that will come up during this time. Make a list, check it twice, and determine how much money you will need to have on hand for each expense. Planning ahead will not only ensure you have the funds available and keep you from overspending, but it will also alleviate the stress that tends to come with unexpected expenses.
Contact our team of moving experts at Nilson Van & Storage for more information on moving in the military and the tips you need to make the most of your moving budget.
