MilSpouse Employment Challenges
MilSpouse Employment Challenges
While being laid off from my job at the end of 2019 was difficult, I have become even better at saving money to stay afloat with one income. I am constantly using my extra time to save with coupons from grocery store websites, deals on restaurants, and shopping items that are only on sale. I buy almost all of our clothes used and from vintage stores and websites. By taking extra time to shop sales and deals, we save about $200 each month!
My husband’s work schedule became a LOT busier when moving to Norfolk in 2020, so the extra time I had actually allowed me to be around more during his ever-changing active-duty schedule with lots of sea time. Fluctuating employment and a military move can be tricky for military spouses, but I’ve learned to use it as an opportunity to make the most of that time.
MilSpouse Money
Mission Response:
Losing a job is stressful and the transition from two paychecks to one can be really challenging. It is a great idea to look for deals, whether using coupons, shopping on sale, and checking out consignment or resale stores. It seems like you have the right outlook to take advantage of your extra time to turn that into real savings. Great job! You and others can check out our blog on smart ways to reduce spending. Here are a few more suggestions to consider:
- Emergency fund – Strive to save three to six months of living expenses in an easily accessible account, such as a money market or savings account. If this seems like a lot, start with a goal of $1,000 and keep building it up each month until you reach your savings level. Remember, don’t touch it unless it is an emergency, like a job loss, and replenish it as soon as possible.
- Update your spending plan – A major change in income should lead to adjustments in your budget. This worksheet can help you get started.
