Money and Moving: Avoid a PCS Financial Fiasco

Spring is in the air and in the military community that means one thing: thousands of families across the globe have just received orders and are getting ready to move to a new duty station. Being financially prepared for a move is just as important as hand carrying important paperwork and having good movers.

Social Media

PCSing? Here’s a great tip from @MilitarySaves: One of the biggest factors in determining your auto #insurance rate is your address. Be sure to update your address and shop around for the best rate and coverage.

Learn more here: http://bit.ly/2vhEgWp
#Military #PCS



Twitter | Facebook | Instagram

#PCS Pro Tip: Something as simple as forgetting to forward your address can create a snowball effect. Not receiving your bills means potentially not paying on time and penalties, which could impact your credit score.

Get more PCS and #Financial tips by visiting @MilitarySaves



Twitter | Facebook | Instagram

It’s #PCS season! Hopefully you have a moving fund set up to account for expenses. If not, having a yard sale is a great way to raise quick cash. Roll any not used during the move to your #emergency fund. Get more #savings tips @MilitarySaves  



Twitter | Facebook | Instagram

Add this tip from @MilitarySaves to your #PCS Checklist: Keep all your personal documents with you, including passports, birth certificates, POAs, and especially IEPs to help the school registration process. #Military #EFMP



Twitter | Facebook | Instagram

#PCS Tip: The last thing you need in the middle of moving to a new duty station is constantly looking up account numbers and logins. Create a master list of all accounts (both physical and digital copies) for easy access.

Find more tips 👉 http://bit.ly/2UzlvrE @MilitarySaves



Twitter | Facebook | Instagram

Readers of @MilitarySaves swear by this #PCS hack! Visit them to find new ways to make the move to your next duty station smooth. Then take the pledge to start working toward your next #financial goal. #DebtFree #Invest #MilitaryRetirement #Savings 👉 bit.ly/2UzlvrE



Twitter | Facebook | Instagram

#MilitaryFamilies: Did you know @HomeDepot and @Lowes have a year round discount? There are so many great companies that offer #militarydiscounts during #NationalMilitaryAppreciationMonth and beyond. #NMAM #MilitaryAppreciationMonth @MilitarySaves



Twitter | Facebook | Instagram

The SCRA provides benefits and legal protections allowing military families to navigate #PCS moves more smoothly, including the ability to terminate housing and auto leases. Check the @CFPB factsheet, then follow @MilitarySaves for more #financial tips. http://bit.ly/2L1FFLG



Twitter | Facebook | Instagram

During a #PCS, each rank has a household goods weight limit. If you exceed that limit, you will have to pay an overage fee. Don’t forget, you have the right to be present for a re-weigh. #Save money and avoid this costly mistake. @MilitarySaves  #financialtips



Twitter | Facebook | Instagram

Be diligent in keeping all receipts related to your #PCS in a central location. In the event that you require reimbursement from the government, you will need the accompanying receipt. @MilitarySaves #PCStip. Visit their website for more #financial tips: http://bit.ly/2UzlvrE



Twitter | Facebook | Instagram

 

Resources

Military Saves

Understanding the Service Member Civil Relief Act Can Save You Money

Preparing for a PCS Move?

Military Life: Deployment, PCS Moves, and TDYs, Oh My!

The Tale of Two Rentals: How to Compare Your Rental Options During a PCS 

Other Resources

FINRA Investor Education Foundation Money & Mobility

Military Consumer Buying a Home – Active Duty

USAA Educational Foundation Buying or Renting a Home

Internal Revenue Service Moving Expenses for Members of the Armed Forces

Consumer Financial Protection Bureau The Servicemembers Civil Relief Act (SCRA )

Military OneSource PCS - The Basics About Permanent Change of Station

Military OneSource Moving - Benefits

Department of Defense It’s Your Move

 

Blog Posts

How to Save Money When You Move with the Military

Military moves are expensive. Whether it’s buying all new condiments for your pantry, paying for a “move out” housecleaning, or eating out more often while waiting for your pots and pans to be delivered, the bills seem to pile up. Military Saves reached out to bloggers who also happen to be PCS pros to ask for tips for keeping PCS costs down.

View blog post

Financial Tips for Your Next PCS Move

Courtesy of the FINRA Foundation

Military families move all the time, but to prepare for a life of moves, you need to know what to expect both before and after a move. That means asking a lot of questions and doing some research. Know the costs involved, make a PCS (Permanent Change of Station) plan, and set aside funds specifically ear-marked as a PCS fund.

The following tips can help you plan financially for your next move.

View blog post

PCS Costs and How to Manage Them

PCSing is a fact of military life and can often be an exhilarating adventure for service members and their families. I mean, you joined to see the world, right? However, being unprepared for a move can be costly and stressful and can actually cause you to dread a relocation every few years. Military.com estimates that service members spend about $1,725 in NON-reimbursable costs for each move, and if you haven’t accounted for that in savings, you can easily find yourself with mounting debt.

It’s no secret that moving is expensive, and even though the military covers the bulk of moving costs, there are always out-of-pocket expenses. So just how do the experts suggest managing the myriad costs of a PCS? We’ve compiled some of the most popular ways here.

View blog post

Tip of the Day

  • Written by Katie Bryan | November 29, 2013

    Transferring #money from #checking to #savings is the fastest way to #save $500 - $1,000 >> http://ow.ly/e7ClM

Saver Stories View all »

Airman Succeeds Through Dedication to Building Wealth Not Debt

Written by Super User | October 13, 2011

I came into the Air Force at 23 years old in 1993 with about 12 outstanding bills (hospital bills, car loan, car insurance, school loans, credit cards, etc.). You name it, I had the bill. Thanks to the Family Support Center, Dave Ramsey's Financial Peace University, and many other sources, I now have no outstanding bills.

Read more...

One Sailor's Course to Financial Freedom

Written by Super User | November 26, 2010

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Then I decided I'd had enough of living paycheck to paycheck and worrying about money all the time.

Read more...

Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

"All I did was sit down and listen to a guy one day who showed me what he was doing" said the colonel as he explained how he became interested in what he calls, "becoming financially free."

Read more...