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The Art of Penny Pinching

It’s rare that people think of saving money as a science. And it’s even rarer that they consider it an art form. But the truth is that it’s actually both—once you know how to optimize how to save money to best suit your current needs and budget.   If you’re like most Americans, you’re already in the process of tightening your belt. Perhaps you haven’t begun to do so yet but are actively considering it. There’s a certain balance you have to maintain between actively saving money and knowing how much you can afford to save. And sometimes that balance seems like a virtual impossibility; an ideal instead of reality.   Saving money begins with pragmatism. But what if you’ve already stretched your budget as thin as you can?  Believe it or not, there are ways to stretch it even further. Here are a few tips we’ve learned on the art of penny-pinching and how you can start learning it today.

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What You Need to Know About the Forever GI Bill

Military veterans may have heard about the “Forever GI Bill”. You might be wondering, “What is it and what does it mean for me?”   To summarize, the bill allows military veterans to receive benefits for education- for life. The most recent version of the bill was signed in 2017 by President Trump to make these benefits more accessible.   Recently, the bill was updated to include benefits for students whose schools switched to online classes as a result of the pandemic. That’s great news if you’re currently in school!

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How to Find a Job During a Crisis

Among the many lessons to learn from the recent pandemic is the fact that something completely unexpected can upend so many aspects of life in the blink of an eye. Of those things that can change with little notice is the job market. As millions of unemployment claims show, the pandemic sent many people out to look for work with no warning. However, it does lead to the question of exactly what you can do to find a job in a crisis. Although it may sound cliché, in every crisis, there is an opportunity, and there are jobs available to those who follow some important guidelines.

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Why You Need to Consider Military Life Insurance

No one likes to consider life insurance because it forces you to stare your own mortality right in the face. However, from a financial and family planning perspective, life insurance is an essential purchase that can give you immense peace of mind, as well as provide the same for your family. When you are a member of the military, hazards usually are a part of the routine job description. The purchase of life insurance then becomes even more important, as a just in case, in the event of an unpredictable and tragic event. Thankfully, most service members are eligible for a form of life insurance called the Servicemembers Group Life Insurance, also known as SGLI. However, this isn’t quite a “set it and forget it” kind of policy, there are plenty of aspects of military life insurance to consider, including buying additional insurance.

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Creating Your Own Pandemic Proof Budget

Even as states begin the process of re-opening and beginning what appears to be a long road to normalcy, there are plenty of lessons to be learned for the whole experience of a pandemic. One of the first lessons is that, while rare, a pandemic can come along at any time and upend our normal way of life, at least temporarily, as it is good to be prepared, especially financially. So whether it is fears of a second wave of COVID-19 or just smart caution for an unpredictable future, here are some tips for creating a pandemic-proof budget.

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How to Avoid Financial Hardship During a Crisis

Uncertainty is never a comfortable thing to face. And when you’re in the middle of a crisis, protecting your current finances can frequently seem like an uphill battle.   But it doesn’t have to be. Developing both short and long term goals can be dependent on your own current financial situation as much as your own ability to navigate circumstances. That may not mean it’s always simple; avoiding financial hardship means making certain sacrifices only you know for certain you can go without. But it’s a rewarding process, and not merely an economically realistic one. It can teach you just as much about your own adaptability to change as it can managing your budget. And for those of you who have served in the military, you obviously already know the full value of adaptability.

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How Much Should You Be Saving Every Month?

Let’s face it. We live in far from certain times when it comes to our financial future. And while we all have our own particular savings goals in mind, there’s one underlying consensus we can all agree upon: building financial security shouldn’t be wishful thinking. It should be a necessity.   But while we all have different financial goals, we all have a different standard of living as well. And sometimes? That standard of living can actually get in the way of our long term goals if we’re not careful.   Luckily, there’s a certain standard we can apply to our savings which can help us optimize our current budget to meet both short term and long term goals. It’s called the 50/30/20 rule; and if you haven’t learned it yet, it can mean the difference between security and worry.

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