Post-Deployment Reunion:

Reuniting your family following a deployment is an exciting time. You are busy catching up with family and friends, going out and getting back into the swing of things. Odds are, you have noticed many changes, and one is likely your finances. Notably, your spouse’s pay has probably gone down and your family’s expenses may have gone up. The good news? If you are aware that this may happen, you can prepare for it. Here are four tips to help put the deployment behind you and reunite your family and finances.

Revisit Your Financial Goals

Remember the financial goals you set before the deployment? Go back to these goals as a family and see if you reached them. If you did not achieve your goals, try a new technique. The S.M.A.R.T. method is an acronym for Specific, Measurable, Attainable, Relevant and Time-Bound. Keep these guidelines in mind as you set new goals moving forward.

Reset the Family Spending Plan

Make adjustments to address changes in income and expenses. During the deployment, you may have been receiving increased pay or tax breaks that will come to an end. It is critical to factor this into the new plan. For more information on spending plans, visit Create a Budget.

Resist the Temptation to Make Big Purchases

It is so great to be back together that you may want to take a last-minute vacation or make a spontaneous purchase. Take a brief pause and evaluate what this would do to your spending plan and goals. If it’s a budget-buster, consider setting the purchase as a goal and plan for it instead of acting on an impulse.

Reassess Deployment Benefits

Oftentimes, Service members who deploy qualify for special pay, lower interest rates on debt, tax breaks and more. It’s good to review and provide a notice of return, as appropriate. One example of this is the Savings Deposit Program or SDP. If your spouse participated in the SDP, interest accrues up to 90 days post-deployment. Discuss and agree how to use these funds.

Enjoy this time reuniting as a family! Be sure to remember these tips to keep your finances in line with your family’s goals. For more information, visit MilLife Milestones: Post-Deployment.

Are you ready to join the mission?

MilSpouse Money Mission^® is a Department of Defense resource that offers FREE personal financial education specifically geared toward spouses. There is a Money Ready guide for various stages of financial life, a MilLife Milestones section to help you through the big moments in your military journey, a blog, spouse videos, quizzes, calculators and more!

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