While your budget in a military family may not need to account for rent or utility payments if you live on post or base, a budget is nonetheless crucial. While housing costs may not be an issue, the early years of military service may be a financial struggle, and carefully watching expenses is important. If you live off base and receive a housing allowance, be certain that you have chosen a home or apartment which fits within that allowance. If a family member is deployed, be certain to account for and manage their spending within the budget as well as the needs of those remaining at home. It may be helpful to allot the deployed family member a biweekly or monthly allowance to keep spending well in hand. Take advantage of the commissary for more affordable food, and young families of lower ranking service people will likely qualify for the Women, Infants, and Children program (WIC) to reduce expenses. You will even find budgeting for baby classes available at your military installation.

Avoid incurring debt that you cannot repay. A big screen television, new car or motorcycle, or expensive shopping sprees are simply not viable on a soldier or sailor's salary. You should also avoid many of the services that spring up around military installations, including rent to own shops and payday loan services. These costly services often prey on young, financially strapped service people. Single service people may well find themselves with no living expenses, since they eat in the mess hall and live in the barracks. This can lead to excessive spending, and more debt than is reasonable, particularly if they later marry and start a family. While managing on a military budget can be a challenge, the benefits of serving your country are many.

What can you do if you are a service person in need of financial help? If you do not yet have debt related problems, you will find that the Military Assistance Program may be able to help you with budgeting and financial management questions. More information, financial checklists and calculators just for service people are available at http://www.defenselink.mil/mapsite/money.html. If you need further assistance, speak to the base chaplain or your chain of command. Emergency financial aid is available to service members in need. If your financial issues are already beyond what simple budgeting, saving and smart spending can help, it may be time to seek out further assistance. Look carefully into your options for financial help; however, you may well find that debt settlement assistance will allow you to move forward.

Many service people begin their careers in their teens, and may well find themselves guilty of the mistakes of youth, including overspending. Take advantage of budgeting information available at your duty station, think carefully about how you spend your money, and if you need more help getting control of your finances, be certain to get that help before the problems with your finances become more severe.