During middle school and high school we are often first exposed to making, managing and spending money. Development of financial skills during these years is crucial and will significantly contribute to habits that will stick around the rest of our lives. The goal of this online personal finance game is to teach important personal finance concepts and shape good habits. Some great topics are covered like wealth building, choosing a job, education, credit, investing and more.
Military specific issues including military pay, living on/off base, education, programs and more. Many fail to take full advantage of opportunities available. Learn to make the most of the benefits you’ve earned.
Note: Before paying for any financial service, consultation or advice, consult your command/base financial specialist. Most if not all of financial services you need can be obtained for free at a discount. Your command/base financial specialist should also have a list of free local financial classes like money management, debt, credit, buying a home/car, etc.
Pay & Benefits
- News, information and calculators about DoD pay for both military and civilians: www.dfas.mil, www.dfas.mil/MilitaryPay
- Military guide to benefits: http://myarmybenefits.us.army.mil/
- Tricare military health care: www.tricare.osd.mil
- A solid financial guide for military families in PDF format that you can download, use and pass on: Personal Finance for Military Families
- Building wealth and reducing debt: www.MilitarySaves.org
- Free financial information and tools to help servicemembers manage their money: www.SaveAndInvest.org
- Personal finance tips for servicemembers: Use Financial Common Sense
- Financial resource for servicemembers and their families covering many topics: www.MilitaryMoney.com
- Free Educational Money Games
- Free Online Courses
- Free Money Management Software
- Credit game, learn about managing your credit: www.ControlYourCredit.gov
- Request a free credit report annually from each of the three credit bureaus, totaling three free credit reports per year. www.AnnualCreditReport.com
- Thrift Savings Plan, an excellent retirement savings plan for military personnel and other federal employees: www.tsp.gov
- Information on VA Loan programs: www.homeloans.va.gov
- GI Bill: http://www.gibill.va.gov/
- Yellow Ribbon Program: http://www.gibill.va.gov/gi_bill_info/ch33/yellow_ribbon.htm
- Deployment guide at military.com (for profit site): www.military.com/deployment
- Family deployment guide for families, developed by Marine Corps family readiness, but has helpful information for any service member and their family: MCCS Family Deployment Guide
- Defense travel management office website: www.DefenseTravel.dod.mil
- Free tool to help plan your next PCS: www.MilitaryHomeFront.DoD.mil/tf/MovingAndRelocation
- Navy & Marine Corps Housing: www.Housing.Navy.Mil/OneStop
Consumer Awareness, Assistance and Tips
- Military Personnel & Families Fighting Back Against Identity Theft: Brochure with tips for military personnel and their families on how to deter, detect and defend against identity theft.
- Learn about your rights as a service member: http://www.justice.gov/crt/spec_topics/military/
- Check out business in your local area before doing business with them, local: www.BBB.org, military: www.BBB.org/Military
- ID Theft: www.FTC.gov/IdTheft, www.Sileo.com
- Remove name from list for firm offers of insurance/credit by agencies that get their information from one of the three credit bureaus. Through this site you may: opt-out electronically (5 yrs.), opt-out by mail (permanently) or opt-in if you’ve previously opted-out: www.OptOutpreScreen.com
- When calling customer service lines, bypass initial automated services and get a customer service rep: www.GetHuman.com
Misc. Family Resources
- Excellent resource for active duty, guard/reserve and their families: http://www.MilitaryOneSource.com/default.aspx
- Support for military families: http://www.militaryfamily.org/
Leaving Active Duty (Transition/EAS)
- EAS soon? Here is the DOD’s official website on transitioning from military service: www.TurboTAP.org
- Servicemembers’ & Veterans’ Group Life Insurance (SGLI): http://www.benefits.va.gov/insurance/sgli.asp
- Military insurance issues: www.naic.org/consumer_military_insurance.htm
- Legal assistance locator for military personnel: http://LegalAssistance.law.af.mil/content/locator.php
- Tax information for military: https://www.irs.gov/individuals/military
Personal finance is complicated enough with out all of the difficult terms to understand. Improve your financial vocabulary with our free financial glossary. It is searchable and has an alphabetical index.
Rather than only taking on new debt for emergencies, home purchases or essentials, debt has become a socially acceptable way to finance a life we cannot afford. Maybe we tell ourselves that as long as our debt is below a certain percentage, we’re doing alright. Or maybe we took on debt to buy something nice, meaning to pay it off immediately…only to still be paying a ridiculous interest rate months or years later.
Here in America this problem is depressingly common. What’s interesting is that this problem with debt is becoming a global epidemic, even in traditionally conservative cultures. In recent years the consumer credit market in Asia has exploded. Ironically, as political and religious freedom spreads around the world we increasingly become slaves to debt and other self-inflicted oppression.
One of the major keys to reducing and controlling debt is understating it. The below set of articles from the Open University take a look at debt and the characteristics of borrowing in the UK. The similarities revealed between UK and American debt are striking, but more importantly the perspective and revelations are incredibly valuable in understanding why.
Exploration of Debt
- Debt: Concepts and Evidence
- Trends in Debt
- Liberalization of the Financial Services Industry
- Structure of the Financial Services Industry in the UK
Cost of Debt
- The Basics of Debt and Interest
- The Official Interest Rate in the UK
- More About Interest
- Annual Percentage Rate (APR)
- People and Interest Rates
Debt and Household Finances
The Process of Borrowing
Check out our collection of calculators cover all types of personal finance topics like debt payments and payoff, mortgage, income, investment projection and valuation, etc. Calculators are provided courtesy of CalculatorPro.com.