Family Preparedness Finances

Experience with previous deployments and separations indicate some spouses are financially unprepared for their spouses’ departure. The following information can help assist spouses overcome many financial obstacles during deployments.

CHECK TO BANK
Open a joint checking account. Due to regulations everyone is to have direct deposit to a financial institution. This is the easiest, fastest and safest way to get to your money. If you desire, allotments can be made to various financial institutions for the purpose of paying bill. Contact your local unit for allotment forms. It is strongly recommended that all married service members have a joint checking account with their spouse for easy access to family funds.

Single soldiers, should have a joint checking account with mom or dad or someone that is well trusted so that bills may be paid while the soldier is deployed.

ELIMINATE CREDIT CARDS
Keep plastic money to a minimum. It gives you a false sense of wealth where there really isn’t any money.

ALLOTMENTS
Service members single or married should provide their spouse or family members with a special power of attorney to obtain copies of Leave and Earnings Statements (LES) and enable them to deposit or cash checks. The special Power of Attorney can be obtained at the military legal assistance office. Spouses and family members should understand how to read the LES. Family members should be aware that under some circumstances BAS pay is terminated because soldiers receive their meals at no cost while deployed. Spouses and family members are encouraged to utilize the support of the Consumer Credit Counseling Service if financial assistance is needed.

FINANCIAL AID PROGRAMS
Army Emergency Relief (AER) provides loans and grants under emergency conditions. Guard’s members must be on orders 30 days or more to receive assistance.

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Download the Family Preparedness Finances Form (PDF)