Military Training and Family Finances
Military Training and Family Finances
My husband has had at least one out of state training every year for the past three years and living apart from your spouse due to military obligations can take a toll on your finances. The most helpful tip that I have discovered is open and honest communication with your spouse. We learned early on that marriage is a partnership that requires transparency. If each spouse is spending money separately, you need to make sure you’re on the same page so there are no surprises. Communicate with your partner on the things you’re buying, especially if it’s a large monetary item! My spouse and I have an understanding that if we purchase something over $50, we first run it by the other.
Budget together and find out what works best for you and your partner. One thing we budget for is date nights when my husband is home, like seen in this picture.
MilSpouse Money
Mission Response:
We love this tip, Amy. Communication is key! Being able to have open and honest conversations with your spouse about money helps you stay on track with day-to-day spending and helps you reach your short and long-term financial goals. Like Amy mentions, milspouses are no strangers to spending time apart due to training or deployments. It might not be easy to communicate while your spouse is away so make sure you’re on the same page with your spending plan before they go and ensure that you have all the necessary account credentials and permissions to pay bills and track accounts. Anticipate how your income and expenses may change and adjust your spending plan as needed.
At MilSpouse Money Mission, we know that it isn’t always easy to talk about money. You and your spouse may have different ideas and experiences with finances so consider using our Personal Financial Values and Money Manager Rating handouts as discussion tools to get the conversation started.
