Be a Legal Eagle:
You’ll want to make sure your family back home as the authority to make final decisions in your absence. It’s important to have your will and power-of-attorney in place so that you can rest assured that your family is prepared and protected.
Make a Payment Plan:
You will want to walk through the payments you and/or other family members make on a monthly basis and make sure there is a plan in place while you are deployed. Auto-payments through online banking can be extremely helpful in ensuring no payments are missed during your time away. Also, make sure that all information about accounts and payments is kept in a safe and easy-to-access place back home.
Save, Save, Save:
Look for opportunities to save while you’re away. If a car isn’t going to be used while you are deployed – suspend the insurance on that vehicle. If you have gym memberships or other monthly expenses that can be suspended or canceled in your absence, take care of those ahead of time so those expenses can turn into savings.
Create a Cushion:
It will help your peace of mind tremendously if there is a financial safety net for your family should unexpected expenses arise during your deployment. Many experts suggest you have a few months worth of expenses in savings in case of an emergency or unforeseen financial issues.
This content was developed using advice from the experts at Kiplinger. You can get more information on all these tips and explore a variety of savings opportunities at Kiplinger.com.