This My Military & Money App discussion is made possible by a sponsorship through The Motherhood; all opinions are my own.
My nephew is the latest in a long line of family members to serve in the Military. While many have served before him, he’s the first that I’ve had a conversation about money with. I was curious how he was doing so I asked him about his living conditions and if his pay was covering his expenses.
He was living in singles barracks and unhappy about the situation. He was working on ways to make more money, but his ideas on how to upgrade his living conditions were alarming to say the least. I talked to him for an hour about why his ideas were troublesome and while many other soldiers were, or had already used some of the tactics, I wholeheartedly disagreed with their methods. I told him I’d go down there and bring him back into line if he even thought of following suit. My only advice was that rather than looking to bring in more money, maybe he should look at his spending and find a way to spend less.
Thankfully he never didn’t need my strong arm to stop him from doing something stupid, but I realized I only had a long list of “don’t do that’s!” and nothing to actually help him out. But now I do.
My Military & Money App – Personal Financial Education, Tools & Resources
I recently learned about the My Military & Money App. This free app is a partnership between McGraw Hill Financial and the BBB Military Line® to give service members and their family’s access to personal financial education, as well as tools and resources for young military families. The app and website provide answers to basic personal financial questions and they cover timely topics like Budgeting, Credit Cards, Savings, Deployment, Retiring, Home Buying and more.
The app also provides some fantastic resources including: Kiplinger Personal Finance for Military Families, BBB Military Line®, Loan Guaranty Service, Home Loan Program, Life Insurance – Department of Veterans Affairs, Military Saves, Patriot Express (Small Business Administration), and the The Post – 9/11 GI Bill
There is also a video training series that covers some important financial topics. Who couldn’t benefit from learning more about “Making Credit Work For You,” Digging Out of Debt,” and “Building a Better Budget.”App users will find information specifically designed for deployed service personnel. Plus the app can even remind you to check in on your financial plans every month and users can create a credit card debt reduction plan, structure a savings plan, and build a balanced budget, all online and 24/7.
As I told my nephew, sometimes it’s not about making more money, it’s about making more of the money you have. My Military App gives users the tools to do just that.
My Military Money App – Is it Secure?
It’s up to you what personal information you put into the app. It’s not necessary to provide a bank account or credit card number to use it. You’re also not be required to provide a social security number and it doesn’t link to your bank account. There’s a downside to the standalone app in that you have enter any financial data manually. The benefit is that it’s easier to secure the data. When you add your accounts, you can simply put Credit Card and not the actual credit card number.
To use the app you’ll need to be connected to the Internet. There is some information that you can store by emailing yourself from the app to access when you don’t have an Internet connection available, but generally working directly on the web is the easiest way to use the app.
Is this app exclusive to the military?
You don’t have to be active military to use the app, though it is set up specifically for their needs. Anyone can use it as a way to manage money.
Looking for Money Tools for Your Children?
The My Military Money App and online site would be a great way to teach older kids about budgeting and help involve them in family discussions around money. If you have a younger children, check out Our Kids and Money for information appropriate for them.
My Military Money – Time to Share
I’m thrilled that My Military Money app is available to my nephew and the millions of other military members who can take advantage of these powerful features to improve their financial education. They face additional stress including deployment and transfers that can create a strain on their budget, but help is available in this free app and companion website.
I’ll be sharing My Military Money with my nephew and other serving family members. Who will you share it with today?
Connect with My Military & Money:
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