Gearing Up for a PCS This Summer?  Give Your Finances a Check-Up

April 2, 2013
By Andia Dinesen, AFC®
Military Saves Coordinator

The first quarter of the calendar year is behind us and for those of you facing a PCS this summer, finances are surely on your mind. Whether you are getting ready to PCS or not, this is a great time to give your finances a check-up. After all, April is Financial Literacy Month.

Check Your Credit Report and Score. Every American is entitled to check their credit report from each of the credit reporting agencies each year by using www.annualcreditreport.com. This is website is free, trusted, and secure and is the best way to view your entire credit history.  In addition, during 2013, servicemembers (including active-duty, guard, and reserve) and their spouses can get their free myFICO credit score by taking the Military Saves Pledge. So if you haven’t done that yet this year, this is a perfect time.  Also, even if you have pledged in the past, you can re-pledge at MilitarySaves.org and receive your free myFICO credit score.

Have you filed your taxes yet? If not, you still have time and you can get free tax software from MilitaryOneSource.mil.  Also, when filing your tax return, don’t forget to save a portion of your refund with Form 8888.  The SaveYourRefund.com offers a chance to win $25,000 for saving at least $50 of your tax refund.  And tax time offers a great opportunity to beef up your emergency fund, especially if you are facing a PCS this summer.

The MilitarySaves.org blog this month will be featuring information about PCS, tips and ideas for getting ready financially for a PCS, and unexpected expenses you and your family might be facing.  Share your ideas and tips with us on our Facebook page and Tweet with us too.

We want to share your advice and information with others.  Whether you are getting ready to move 100 miles or 5,000 it is always better to be as prepared as you can and we want to help.

Tip of the Day

  • Written by Guest Blogger | September 30, 2014

    Participate in the Thrift Savings Plan (TSP) - a retirement savings and investment plan for Federal employees and members of the Uniformed Services. It offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans. More info at tsp.gov

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