you're reading...

Military Members Dodge Political Bullet

We were all relieved that the Government avoided a shutdown this week and that our paychecks will be normal on Friday. Many military families felt panic that should be considered a financial warning signal. If you were afraid you weren’t going to be able to feed your family or make the rent because your paycheck was restricted this month, that’s a good indication that your emergency fund it too small.

I’ve previously written about the “8% Challenge” which recommends that your save 8% of your pay for a year in a cash account to build up your emergency fund. In a year you’ll have a month’s pay saved. In three years you’ll have a three month cushion.

Let this experience guide you, and on Friday, put 8% of your military pay in your savings account.



No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: