Stay Financially Fit for Summer Fun
It’s March, the time of year I start dreaming about warm beaches, longer days and vacation travel. I know I need to plan now for that getaway and other things summer brings like camps for kids, possible vacations and maybe even a PCS. Here are some planning resources that can help you enjoy your summer while keeping your budget on track.
School’s out: Summer camps and child care
When the school year ends, the Department of Defense offers programs to keep your kids busy and well cared for with a variety of fun summer camps and child care resources — some available at reduced or no cost.
Almost all military installations hold summer camps for children and teens. These include camps for younger kids, Military Teen Adventure Camps (think rock climbing and white-water rafting), DoD STEM, 4-H Military Partnership camps and more.
The DoD also offers a variety of child care services, including access to a national database of more than a million caregivers so you can find hourly, flexible and on-demand care. Childcare.gov can also assist you with finding services in your location, and providing links to fee-assistance programs for each branch of the armed forces — such as the Army Fee Assistance Program, which lets parents pay on-installation childcare fees for off-base care.
Save more money: The new Dependent Care Flexible Spending Account (DCFSA) benefit is a pre-tax account you can use to pay for eligible child care services, including summer day camps. With a DCFSA, you can save up to 30% on child care while reducing your overall tax burden. If you already have a DCFSA, changing your child care provider during a PCS counts as a “qualifying life event,” so you can keep this money-smart benefit even when you move.
Vacation and travel: Get more for less
Military families can book great summer activities while scoring big deals on travel and events.
From fitness and sports to tickets and travel, your Morale, Welfare and Recreation program offers you an array of recreation and entertainment options.
Looking to book an affordable trip? You can find deals on hotels, rental cars, flights, packages, event tickets and cruises through American Forces Travel℠. See Tickets and Tours for discounted special events, area attractions, hotel reservations, cruise bookings and more. And if your travel plans are flexible, military families can use Space-Available flights to travel around the country and the world at a reduced cost or for free.
You can also benefit from the vacation experiences of our MilSpouse friends:
- Beth explains how she uses military discounts to stretch her family’s vacation budget.
- Learn how Joderle saves for family vacations so she isn’t saddled with debt later on.
Bonus tip: An annual America the Beautiful pass covers the entrance fees to National Parks and discounted entrance fees to various national monuments, such as the Gateway Arch in St. Louis. The pass is free for military members and their families.
PCS: Moving to your next home
Whether you’re moving within the U.S. or overseas, advance planning can help make your PCS easier on you and your bank account.
Every good move starts with a plan. We can help you create an effective PCS plan to cover each stage of your move. You can also find tons of useful resources and advice on Military OneSource, from scoping out your new installation to housing allowances and planning checklists. Also, these helpful checklists from MilSpouse Money Mission can help you save money:
Job hack: Plan to work at your new location? The Spouse Education and Career Opportunities program can help you build a portable career, learn about transferring your professional license, find a job, network with employers and more.
The coming months can be a welcome and exciting change of pace. I hope these resources can help you make fun and financially savvy plans this summer!
Mandi Moynihan is a CERTIFIED FINANCIAL PLANNER™ professional who has been with MilSpouse Money Mission since its inception. She also served in the Army and is the spouse of a retired service member.
MilSpouse Money Mission® is a Department of Defense resource that offers FREE personal financial education specifically geared toward military 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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Stay Financially Fit for Summer Fun
It’s March, the time of year I start dreaming about warm beaches, longer days and vacation travel. I know I need to plan now for that getaway and other things summer brings like camps for kids, possible vacations and maybe even a PCS. Here are some planning resources that can help you enjoy your summer while keeping your budget on track.
School’s out: Summer camps and child care
When the school year ends, the Department of Defense offers programs to keep your kids busy and well cared for with a variety of fun summer camps and child care resources — some available at reduced or no cost.
Almost all military installations hold summer camps for children and teens. These include camps for younger kids, Military Teen Adventure Camps (think rock climbing and white-water rafting), DoD STEM, 4-H Military Partnership camps and more.
The DoD also offers a variety of child care services, including access to a national database of more than a million caregivers so you can find hourly, flexible and on-demand care. Childcare.gov can also assist you with finding services in your location, and providing links to fee-assistance programs for each branch of the armed forces — such as the Army Fee Assistance Program, which lets parents pay on-installation childcare fees for off-base care.
Save more money: The new Dependent Care Flexible Spending Account (DCFSA) benefit is a pre-tax account you can use to pay for eligible child care services, including summer day camps. With a DCFSA, you can save up to 30% on child care while reducing your overall tax burden. If you already have a DCFSA, changing your child care provider during a PCS counts as a “qualifying life event,” so you can keep this money-smart benefit even when you move.
Vacation and travel: Get more for less
Military families can book great summer activities while scoring big deals on travel and events.
From fitness and sports to tickets and travel, your Morale, Welfare and Recreation program offers you an array of recreation and entertainment options.
Looking to book an affordable trip? You can find deals on hotels, rental cars, flights, packages, event tickets and cruises through American Forces Travel℠. See Tickets and Tours for discounted special events, area attractions, hotel reservations, cruise bookings and more. And if your travel plans are flexible, military families can use Space-Available flights to travel around the country and the world at a reduced cost or for free.
You can also benefit from the vacation experiences of our MilSpouse friends:
- Beth explains how she uses military discounts to stretch her family’s vacation budget.
- Learn how Joderle saves for family vacations so she isn’t saddled with debt later on.
Bonus tip: An annual America the Beautiful pass covers the entrance fees to National Parks and discounted entrance fees to various national monuments, such as the Gateway Arch in St. Louis. The pass is free for military members and their families.
PCS: Moving to your next home
Whether you’re moving within the U.S. or overseas, advance planning can help make your PCS easier on you and your bank account.
Every good move starts with a plan. We can help you create an effective PCS plan to cover each stage of your move. You can also find tons of useful resources and advice on Military OneSource, from scoping out your new installation to housing allowances and planning checklists. Also, these helpful checklists from MilSpouse Money Mission can help you save money:
Job hack: Plan to work at your new location? The Spouse Education and Career Opportunities program can help you build a portable career, learn about transferring your professional license, find a job, network with employers and more.
The coming months can be a welcome and exciting change of pace. I hope these resources can help you make fun and financially savvy plans this summer!
Mandi Moynihan is a CERTIFIED FINANCIAL PLANNER™ professional who has been with MilSpouse Money Mission since its inception. She also served in the Army and is the spouse of a retired service member.
MilSpouse Money Mission® is a Department of Defense resource that offers FREE personal financial education specifically geared toward military 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!
