Geo-baching and Opportunities to Save
Geo-baching and Opportunities to Save
Being separated from your spouse may seem like the most difficult experience you have ever had to go through. You feel sad, lonely, and it can become challenging to continue with your day-to-day routine. But this time can also be an opportunity to reflect and focus on your own personal growth. When my husband was in basic, I was finishing my last semester of my bachelor’s degree. I decided to take on extra courses to keep myself busy while he was gone. I also focused on working out and learning to live a healthier lifestyle. I had a lot of time to learn new recipes and strategies to help with the process.
When my husband left, we decided that I would move into a camper of one of our family members to save money. I did not have to pay rent or utilities and it also allowed me to go to school full time without having the stress of a job. My husband’s pay covered all our bills and still left us with extra funds left to put into savings. We used that money when it came time to move to our first duty station. These funds helped us buy all the essential items we needed for moving into a new home at Fort Polk, Louisiana and left us with some extra cash to live on until I found a new job.
MilSpouse Money
Mission Response:
Many military families face the possibility of living apart from their Service member at some point due to training, deployment, or an unaccompanied tour. Karissa found that while living apart from her spouse was challenging, she discovered opportunities to save money and focused on using the time apart to complete her bachelor’s degree. Great job on finding the silver lining in a tough situation!
Communication is a key component to managing your financial life while you and your spouse are apart. Talk about your finances and plan as much as possible before you spouse departs. Determine who will be responsible for keeping up with bills and make sure you have access and credentials for all accounts. If you find it difficult to talk about money, check out our handouts, Personal Financial Values and My Rating as a Money Manager. These resources can help get the conversation started.
Finally, make sure you are budgeting for your new situation. Geo-baching for any period can have a big impact on your financial inflows and expenses. Our spending plan worksheet and Create a Budget resource can help you get started!
