Military Saves Week is finally here! Each day of Military Saves Week highlights a unique theme offering fresh opportunities to discuss and promote personal savings. Today, we kick off the Week discussing the importance of saving with a plan.

Written by Rachael DeLeon, Association for Financial Counseling & Planning Education^® (AFCPE^®)

“You pile up enough tomorrows, and you'll find you are left with nothing but a lot of empty yesterdays.” - Meredith Willson

by Lila Quintiliani, AFC®, Military Saves Program Manager

1. Find Out if the New Tax Legislation Affects You

Check and see if you need to take action before you file or whether you may need to file an amended return for a previous year. 

by Lila Quintiliani, AFC®, Military Saves Program Manager

There are several new pieces of legislation that may affect military families’ 2018 tax returns. The implementation of the Tax Cuts and Jobs Act, the Veterans Benefits and Transition Act, and the Combat-Injured Veterans Tax Fairness Act will mean that most military families will be paying less in taxes this year. In some instances, though, taxpayers will have to take action in order to see the benefits of the legislation.

by Lila Quintiliani, AFC®, Military Saves Program Manager

There are some drops in income that can be predicted (retirement, multiple kids in college) and then there are others that just blindside us (loss of a job, furlough).  In cases like these, even large emergency funds may eventually run out. It’s important, however, to keep a level head and as much control over personal finances as possible given the circumstances.