If you’re like the 700,000 military servicemembers who are reassigned to new locations each year, you shell out an average of $1,725 for non-reimbursable expenses.
When you combine moving costs with the difficulty of uprooting your life every few years, relocations can take a big toll. While some moving hassles are unavoidable, you can ease the financial pain of PCSing with a little advance planning. Consider following this timeline for your next move:
What to do now: Avoid Budget Blues
Whether your move is days or weeks away, develop a moving budget in advance to keep your finances on track and avoid last-minute costs.
What to do before you leave: Prevent Moving MishapsSome moving horror stories result from damaged or lost property. So it’s critical to have the right levels of insurance before you PCS. In the case of a moving mishap, insurance can mean the difference between disappointment and financial disaster.
What to do after you arrive: Fine Tune Your Finances
Once you settle into your new place, consider fine-tuning your finances to make your next move easier. The stop-and-go that comes with a PCS — stopping everything and starting over again in a new area — can be a shock to your finances. Military members can find some relief by working with companies that “move with you” and serve your needs wherever you go.
With the right preparations, your next PCS could be financially painless and leave a surplus in your cash flow instead of draining it.
Each year, I see a huge jump in traffic with people wondering if they will get paid before Memorial Day weekend. Unfortunately, the way the calendar works, it rarely happens. This year is not an exception. The next regular, active duty military pay day is Friday, 31 May 2013. Payday is on Friday because the [...]