158 | From Bootcamp to Budget: Mastering Military Budgeting, Finances and Retirement

⁠⁠Snag Our Signature Budget Template⁠!⁠

🎙️ In this power-packed episode, we're diving into the world of military finances and retirement planning. Whether you're currently serving, a veteran, or just curious about how to navigate the financial landscape in the armed forces, we've got you covered. Plus, this episode will be great if you or someone you love is considering going into the military.

🇺🇸 Budgeting in the Military: Tips and Personal Experiences

- We start by discussing the unique financial challenges faced by military personnel, from predatory financial services near bases to the lack of structured financial education.

- Our guest, Chris Roberson (Shana's husband), a military veteran with over 20 years of service in the Air Force, shares valuable insights and practical tips for managing your finances while serving.

- Learn about practical budgeting tips like using allotments to automatically manage expenses and creating a separate bills account with auto-drafts.

- We explore personal finance strategies, from frugal spending during temporary duty assignments to leveraging additional allowances.

- Discover the wisdom of using government travel cards to instill financial responsibility.

💼 Maximizing Your Military Finances and Retirement Planning

- We share our experiences with making extra money during military moves, emphasizing the benefits of a do-it-yourself move.

- Dive into retirement planning and the Thrift Savings Plan (TSP), exploring the importance of choosing the right TSP fund and making early, consistent contributions.

- Understand the transition to the new retirement system and how to maximize your retirement benefits under the blended system.

- Learn about financial independence, retiring early (FIRE), and why it's essential to take control of your financial destiny.

🎓 Navigating Retirement as a Military Service Member

- Gain insights into retirement income in the military, medical benefits, the Survivor Benefit Plan, and life insurance options.

- Discover the value of the Transition Assistance Program (TAP) and the need to address financial education as part of your transition plan.

- Get tips on getting out of debt before leaving the military and making the most of education benefits like the GI Bill.

- Learn about the SkillBridge Program, an excellent opportunity to gain civilian work experience while on active duty.

- The importance of early financial education is emphasized, helping you set the stage for a smooth transition into civilian life.

🙏 Thanks for joining us for this episode filled with actionable insights and real-world experiences. Whether you're serving, a veteran, or just passionate about mastering your finances, we're here to support you on your journey. Don't forget to subscribe, rate, and leave us a review. Stay tuned for more practical financial advice in our future episodes! 🎧📈

4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 

"I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!