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Budgeting, Credit Card News, Family Finance, Frugal Living

Your Guide to Budgeting for Summer Camp

January 12, 2021 Sarah Reynolds

Summer camp is a rite of passage. A place where traditions begin and memories are made. A unique venue with a structured opportunity for kids to grow and learn new skills. As enriching as it may seem, embarking on the process each year can be intense: How do I choose a camp? Should it have a philosophy? How do I know my child will have fun? But often the question at the top of the list is, “How do I budget for summer camp?”

Whether you’re scrambling for camp arrangements for this year or getting a jump-start on next summer, you’re in need of a working budget for summer camp. “As a parent who sent several kids to summer camp for many years, I know how expensive it can be,” says Leslie H. Tayne, author and founder of debt solutions law firm Tayne Law Group.

Read on for expert budgeting tips for summer camp and how to save money on summer camp so you can make the best decisions concerning your wallet and your child’s wish list:

1. Get a handle on camp tuition

According to the American Camp Association, sleep-away camp tuition can range from $630 to more than $2,000 per camper per week. Day camp tuition isn’t too far behind, ranging from $199 to more than $800 per week.

One of the best ways to budget for summer camp is to understand your needs for the summer as well as your child's interests.

One of the best ways to budget for summer camp and prepare for tuition costs is to understand your needs for the summer as well as your child’s interests. This will help you determine ‘how much’ and ‘what type’ of camp you want: Is day-camp coverage important all summer because of work? Does your child want to experience sleep-away camp for a portion of the time? Is a camp with a specific focus (say a sport or hobby) on the list?

Depending on your circumstances and child’s expectations, it’s not unusual to be looking at a combination of campsâand tuition costsâin one season. If you have multiple kids at different ages, with different interests, creating a budget for summer camp and understanding how much you’ll need to dish out in tuition becomes especially important.

Once your camp plan is in place, assess how much you’ll need to pay in tuition for the summer months with school out of session. The sooner you’ve arrived at this figure, the easier it will be to work the expense into your household budget, says Heather Schisler, money-saving expert and founder of deal site Passion for Savings. “It’s much easier to set aside $30 a month than it is to come up with $300 to $400 at one time,” Schisler says.

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Sleep-away camp tuition can range from $630 to more than $2,000 per camper per week. Day camp tuition ranges from $199 to more than $800 per week.

– American Camp Association

2. Plan for expenses beyond tuition

One of the biggest budgeting tips for summer camp is planning for the many costs outside of tuition. Tayne points out that sleep-away camp usually comes with a longer supply list than day campâsuch as specific clothing or gear and toiletries to cover the length of stay. If your child is heading to a sleep-away camp far from home, your budget for summer camp may also need to factor in the cost of transportation or the cost to ship luggage. Day camps can also have fees for extended hours or transportation if your child rides a camp bus each day.

Once you’ve selected a campâday camp or sleep-awayâcheck its website for camper packing lists and guidelines. Most camps offer checklists that you can print out, which can be good for tracking supplies and costs as you go. After you enroll, your camp may provide access to an online portal that can help you manage tuition and track additional expenses, like canteen money, which is cash your child can use for snacks and additional supplies while away.

One of the best budgeting tips for summer camp is making sure you understand how much everything will costâthat's tuition plus any extra camp costs.

3. Create a year-round savings strategy

By calculating the necessary expenses ahead of time for the camps you and your campers have chosen, you’ll be able to determine an overall budget for summer camp. A budgeting tip for summer camp is to save money monthly throughout the year. To determine a monthly savings goal, divide your total summer camp costs by the amount of months you have until camp starts. If camp is quickly approaching and you’re feeling the budget crunch, you may want to start saving for next year’s costs once it’s back-to-school time so you can spread out your costs over a longer period of time.

Once you start saving, you’ll need a place to put it, right? When it comes to budgeting tips for summer camp, consider placing your cash in a dedicated account, which will keep it separate from your regular expenses and help you avoid tapping it for other reasons. “Then you can have your bank set up an auto draft [for the summer camp money] so it automatically goes into your account each month and you will have the money you need when summer rolls around,” Schisler says. If you use a Discover Online Savings Account for this purpose, you’ll also earn interest that can be put toward camp expenses.

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âIt’s much easier to set aside $30 a month than it is to come up with $300 to $400 at one time.â

– Heather Schisler, money-saving expert and founder of Passion for Savings

4. Find ways to fund your summer camp account

To boost cash in your summer camp savings account, consider asking relatives and family friends to gift your children cash for camp in lieu of birthday and holiday gifts, says Tracie Fobes of budget blog Penny Pinchin’ Mom. “If your child has his or her heart set on sleep-away camp, they may be willing to forgo a gift or two,” Fobes says.

Another budgeting tip for summer camp is to put your cashback rewards toward your budget for summer camp. For example, if you open a checking account with Discoverâcalled Cashback Debitâyou’ll earn 1% cash back on up to $3,000 in debit card purchases each month.¹ You can enroll to have that cashback bonus automatically deposited into your Discover Online Savings Account so it remains designated for camp costs (and can grow with interest).

Say hello to
cash back on debit
card purchases.

No monthly fees.
No balance requirements.
No, really.

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Lastly, if you don’t have your tax refund earmarked for another financial goal, you could use the windfall to kick-start your summer camp savings fund. Depending on the refund amount and your total camp costs, it could reduce your monthly summer camp savings goal significantly.

5. Reduce camp-related costs

Despite having your budget for summer camp in full view and planning in advance, camp can still be expensive. Here are some ways to save money on summer camp by cutting down on camp costs:

Ask about scholarships and grants: “Some camps offer scholarships or discounts for children and families,” Fobes says. Research your camp to see if they have anything similar to help offsetâor even pay forâthe cost of tuition.
Use a Dependent Care Flexible Spending Account (DCFSA): A Dependent Care Flexible Spending Account is a pre-tax benefit account that can be used to pay for eligible dependent care services. You can use this type of account to “cover dependent care [costs], and camp may qualify,” Fobes says.
Negotiate price: “Many people don’t think about negotiating the cost of summer camp, but it is possible,” Tayne says, and more and more camps are open to it.
See if there’s an “honor system”: Some camps have what’s known as an honor system, where the camp offers a range of costs, or tiered pricing, and parents can pay what they can comfortably afford. Every child enjoys the same camp experience, regardless of which price point, and billing is kept private.
Take advantage of discounts: Attention early birds and web surfers: “There are sometimes discounts offered when you sign up early or register online,” Fobes says.
Volunteer: If your summer schedule allows, “offer to work at the camp,” Fobes says. If you lend your servicesâperhaps for the camp blog or cleaning the camp house before the season startsâyour child may be able to attend camp for free or a reduced rate.

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Focus on the experienceânot the extras

Don’t let summer camp costs become a family budget-buster. Plan ahead and look for money-saving opportunities and work your budget for summer camp into your annual financial plan.

To save money on summer camp, remember that you only need to focus on camp necessities. “Don’t spend a lot of extra money on new clothing, bedding, trunks or suitcases,” Schisler says. “Remember, summer camp is all about the experience, not the things.”

¹ ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo^Â® and PayPal, who also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries.

The post Your Guide to Budgeting for Summer Camp appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

Credit Card News

Family & Home Archives – Money Crashers

January 12, 2021 Sarah Reynolds

Source: moneycrashers.com

Credit Card News, Student Finances

Why You Need to Open a UGMA/UTMA Account for Your Kids

January 12, 2021 Sarah Reynolds

From the Mint team: As you know, Mint is a free product you can use to help stay on top of your finances. So, how do we make money? We get paid by the advertisers on our site. This compensation may affect how and where products appear on the site (and in what order). Mint.com does not include all products or all available offers. Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Saving and investing for college expenses may seem overwhelming, but setting aside even small amounts can give your child a head start. While many people are aware of tax-efficient investing accounts like 529 plans, you may not know about UGMA/UTMA accounts – another way to save for educational and other expenses.

In this article, weâll take a look at UGMA and UTMA custodial accounts, what they are, and how to determine the best way to save for your kidsâ future, while getting tax advantages.

What are UGMA and UTMA accounts?

UGMA stands for the Uniform Gifts to Minors Act and UTMA stands for Uniform Transfers to Minors Act. Account-holders are âcustodians,â and may transfer money into the account to benefit the minor, but the money is managed by the custodian. Typically the money is released to the minor at the age of majority (usually 21 but sometimes 18 or other ages).

How do UGMA and UTMA accounts differ from 529 plans?

529 plans differ from UGMA/UTMA account in a few key areas:

529 plans can only be used for educational expenses, while UGMA/UTMA accounts can be used for anything that benefits the child. .
529 plans are owned and controlled by the person who created the account – with UTMA/UGMA accounts, the funds are transferred to the beneficiary at the age of majority.
Unlike 529 plans, custodial accounts are considered the property of the child, which means that it counts for a higher percentage in financial aid calculations.

The two types of plans share some similarities:

Both types of accounts are considered custodial accounts that can be used for the benefit of a minor.
Anyone can contribute to either type of account â there are no restrictions based on oneâs personal income

If you have a medium to long-term horizon, either a UGMA/UTMA account or a 529 account is usually better than just putting your money in a savings account at a low-interest rate. And donât forget that it is possible to have both a 529 plan AND a UGMA/UTMA account for the same child.

Why You Need to Open a UGMA/UTMA Account for Your Kids

Unlike with a 529 plan, the funds in a custodial account do not have to be used solely for higher-education expenses. The custodian can withdraw money in a UGMA/UTMA custodial account for any expense that benefits the child, like technology, transportation, housing, or any other expense for the child.

The biggest advantage of UGMA/UTMA custodial accounts is their flexibility. Because they can be used for a wide array of expenses, you can use the money in the account even if your child chooses not to go to college. While earnings do not grow completely tax-free like in a 529 plan, earnings in a UGMA/UTMA account are tax-advantaged, but in a different way.

Depending on how you file your tax return, a guardian can choose to include their childâs unearned income with their own tax return. Unearned income is money that doesnât come from employment, like from interest or investments. In 2020, the first $1,100 of a childâs unearned income can be claimed on the guardiansâ tax return tax-free, and the next $1,100 is taxed at the childâs tax rate, which is likely much lower than their parentâs.

Things to watch out for with UGMA or UTMA accounts

If youâre looking to save money or transfer assets to your kids for a variety of expenses beyond education, a UGMA/UTMA custodial account can make a lot of sense. One thing to watch out for is that a UGMA/UTMA account is tied specifically to one named beneficiary. Unlike a 529 plan, where you can transfer the money in an account to a sibling or other beneficiary, with a UGMA/UTMA account, any unused funds must be used or distributed by the time the child reaches their age of majority or their stateâs maximum age for custodial accounts.

Apps like Acorns are making it easy to start a UTMA/UGMA account with their new product, Acorns Early. You can start in under a few minutes and set Recurring Investments starting at $5 a day, week, or month. Fun fact: If you invest $5 a day from birth, considering a 7% average annual market return, you could have more than $70,000 by the time the child turns 18. To learn more, visit Acorns.com/Early.

The post Why You Need to Open a UGMA/UTMA Account for Your Kids appeared first on MintLife Blog.

Source: mint.intuit.com

Budgeting, Credit Card News, Family Finance, Frugal Living

Budgeting for a New Baby? Babyproof Your Budget in 4 Steps

January 8, 2021 Sarah Reynolds

Having a baby means countless changes in your life, and they can happen very quickly. Diapers. Day care. Days running on little sleep. While it may not be on the top of your parenting list, budgeting for a new baby can help prepare your family for the excitement that’s ahead.

Kelsa Dickey is a financial coach and co-owner of Fiscal Fitness, a financial coaching company based in Phoenix. For her and her husband, budgeting has helped reduce money stress since they had their daughter in 2015.

“I absolutely worry less about finances because we budget our money,” Dickey says. “I find budgeting incredibly liberating.”

How do you prepare financially for a baby so you can worry less about finances as a parent? Here are four tips that expecting parents can use to help figure out their new financial reality and learn how to budget for a baby:

1. Prep for pregnancy expenses

Budgeting for a new baby often starts long before the baby arrives. You may have to account for medical bills, prenatal vitamins and maternity clothes, for example. Budgeting for a new baby can become easier if you account for these new expenses before you even need to make the purchases.

Alli Wittbold, a former teacher and blogger at Mom Smart Not Hard, and her husband, were able to save a significant amount on their medical bills when they had their daughter in 2016. Before they were even pregnant, they thought about ways to save money and researched the maternity coverage on both of their insurance plans. They found the coverage on her husband’s plan was much better than hers. By switching their coverage to her husband’s plan before getting pregnant, they were able to save thousands of dollars in maternity-related medical expenses.

While not all pregnancy expenses can be so well-planned in advance, sit down with your budget and make a list of all the new, common costs you’ll need to account for as you prepare for your family’s newest addition. Talking with other parents can help you get a sense for costs that may creep up higher than expected (for Dickey, it was maternity clothes, including new shoes and compression socks), as well as those not even on your radar.

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“You can’t plan for everything, but if you can plan for even 75 percent of what you’ll need, the other 25 percent will be that much easier to tackle.”

– Kelsa Dickey, financial coach and co-owner of Fiscal Fitness

2. Save for baby-related costs

For the Dickeys, budgeting for a new baby meant accounting for increased monthly spending on things they’d anticipated, such as diapers, wipes, baby food and day care. But they also encountered plenty of unexpected expenses. For instance, Dickey planned to nurse and found that nursing supplies and support took a big chunk out of their budget.

“Paying for one-on-one help and consulting was not something I anticipated,” she says.

The Wittbolds also encountered unexpected costs when budgeting for a new baby. They didn’t plan for supplies for when their baby got sick. “During our daughter’s first cold, we ran out to buy a humidifier and nasal aspirator,” Wittbold says.

To cope with unexpected expenses related to their daughter, the Dickeys adjusted their budget and began putting a set amount of money into a specific savings account each month. “I highly recommend doing this because you don’t necessarily know what you will or won’t need, so this allows for some flexibility,” Dickey says.

If you’re looking for additional strategies to learn how to budget for a baby, consider starting an emergency fund to help you better budget for a new baby’s unexpected expenses.

“You can’t plan for everything, but if you can plan for even 75 percent of what you’ll need,” Dickey says, “the other 25 percent will be that much easier to tackle.”

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3. Get creative with your purchases

While baby items can be fun to shop for (think cute little onesies), paying full price on everything can make it nearly impossible to budget for a new baby. The Wittbolds were gifted a lot of the things they needed at their baby shower, but they also shopped secondhandâa great tip for those worried about how to budget for a baby. They perused local classifieds and online marketplaces, and they even picked up hand-me-downs from friends with older children.

The Wittbolds also found creative (and fun) ways to save money by pooling resources from their friends. “My husband had a ‘daddy diaper party’ with all of his guy friends. As a gift, each friend brings a box of diapers,” Wittbold says. “We didn’t have to buy diapers for months.”

4. Account for income changes

Whether you intend to take a parental leave from work or have one parent stay at home to care for your child, you may have to figure out how to budget for a baby with less income than you’re used to.

Dickey and her husband own their financial coaching business, and they were worried about loss of income since they don’t work for an employer with maternity or paternity leave benefits. She knew she wanted to take six weeks off after having her daughter, so they started saving for the drop in income as soon as they knew they were pregnant.

“It made it so I didn’t worry and knew I could enjoy that time off with my daughter,” she says.

Wittbold decided to cope with her time off work as a school teacher by enacting a spending freeze once she was no longer earning an income. “For us, this means no spending aside from grocery store essentials, baby essentials like diapers, gas and of course bills,” she says. “To prepare for this, I stocked our freezer with homemade meals that could be dumped in the Crock-Pot or popped in the oven.”

Not long after her daughter was born, Wittbold decided to continue staying at home rather than return to her teaching position. She needed longer-term solutions to account for one less full-time income. After seeking out online opportunities, she found a remote position where she could teach English online. This helped her start earning enough part-time money to make staying at home possible.

“I teach every morning from 5:00 a.m. to 8:00 a.m.,” she says. “This change meant an additional $1,200 for our family every month.” This kind of flexible side hustle that you can maintain while parenting is a great way to bring in additional income if you’re budgeting for a new baby and looking for ways to save money when you have a baby.

.block-quote_5back { background-image: url(https://865cd2fc18498405a75a-f8cbe8cb758c89f0cd738fe08520ecb9.ssl.cf5.rackcdn.com/online-banking/banking-topics/wp-content/uploads/2017/09/5back-730×500.jpg); } @media (min-width: 730px) { .block-quote_5back { background-image: url(https://865cd2fc18498405a75a-f8cbe8cb758c89f0cd738fe08520ecb9.ssl.cf5.rackcdn.com/online-banking/banking-topics/wp-content/uploads/2017/09/5back-1600×600.jpg); } }

“Budgeting has forced us to do things like meal plan, create cleaning schedules and use our time more effectively in order to earn money from home. This all results in less stress and more time with our baby because we are using the time we have more intentionally.”

– Alli Wittbold, blogger at Mom Smart Not Hard

Sleep soundly (well, eventually) thanks to your budget

While you might not be able to sleep through the night anytime soon, budgeting for a new baby will help give you peace of mind. Knowing you have a plan for expected and unexpected expenses, as well as understanding ways to save money when you have a baby, can allow you to make the most of your time with your family.

“Budgeting has forced us to do things like meal plan, create cleaning schedules and use our time more effectively in order to earn money from home,” Wittbold says. “This all results in less stress and more time with our baby because we are using the time we have more intentionally.”

The post Budgeting for a New Baby? Babyproof Your Budget in 4 Steps appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

Credit Card News

Home Improvement Archives – Money Crashers

January 8, 2021 Sarah Reynolds

Source: moneycrashers.com

Credit Card News

Guide to Managing Finances for Deploying Service Members

January 8, 2021 Sarah Reynolds

Life in the military offers some distinct experiences compared to civilian life, and that includes your budget and finances. The pre-deployment process can feel overwhelming, especially when youâre organizing your money and bills.Â

Itâs important you provide your family with everything they need to keep you and any dependents comfortable and stable. This means gathering paperwork, making phone calls to service providers, creating new budgets, and organizing your estate. The more you prepare ahead of time, the less you have to worry about the state of your investments and finances when you return home.Â

To help make the process easier, weâve gathered everything you need to know for deployment finances. Read on or jump to a specific category below:

Pre-Deployment Needs

Review Your Estate
Reassign Financial Responsibilities
Update Your Services
Build a Budget
Prepare a Deployment Binder

Deployment Needs

Protect Yourself From Fraud
Adjust Your Savings
Financial Assistance

Post-Deployment Needs

Update Your Budget
Pay Off Debt
Review Legal Documents

Before Your Deployment

Thereâs a lot of paperwork and emotions involved in preparing for deployment. Make sure you take plenty of time for yourself and your loved ones, then schedule time to organize your finances for some peace of mind.Â
investments, and dependents. Itâs an important conversation to have with your partner and establishes:

Power of attorney
Living will
Last will and testament
Long-term care
Life insurance
Survivor benefits
Funeral arrangements

Anyone with property, wealth, or dependents should have some estate planning basics secured. These documents will protect your wishes and your family in the event you suffer serious injury. There are several military resources to help you prepare your estate:

Defense Finance And Accounting Servicesâ Survivor Benefit Plan and Reserve Component Survivor Benefit Plan
Department Of Defenseâs Military Funeral Honors Pre-arrangementÂ
Service Memberâs Group Life Insurance
Veterans Affairs Survivorâs Benefits
The Importance Of Estate Planning In The Military
Survivor Benefits Calculator

Servicemembers Civil Relief Act (SCRA) allows you to cancel a housing or auto lease, cancel your phone service, and avoid foreclosure on a home you own without penalties. Additionally, you can reduce your debt interest rates while youâre deployed, giving you a leg up on debt repayment or savings goals. Learn more about the SCRA benefits below:

Terminating Your Lease For Deployment

SCRA Interest Rate Limits

SCRA Benefits And Legal Guidance

Build a Deployment Budget

Your pay may change during and after deployment, which means itâs time to update your budget. Use a deployment calculator to estimate how your pay will change to get a foundation for your budget.Â

Typically, we recommend you put 50 percent of your pay towards needs, like rent and groceries. If you donât have anyone relying on your income, then you should consider splitting this chunk of change between your savings accounts and debt.Â

Make sure you continue to deposit at least 20 percent of your pay into savings, too. Send some of this towards an emergency fund, while the rest can go towards your larger savings goals, like buying a house and retirement.Â

Use these resources to help calculate your goals and budgets, as well as planning for your taxes:

My Army Benefits Deployment Calculator

My Army Benefits Retirement Calculator

Mint Budget Calculator

IRS Deployed Veteran Tax Extension

IRS Military Tax Resources

Combat Zone Tax Exclusions

Prepare a Deployment Binder

Itâs best to organize and arrange all of your documents, information, and needs into a deployment binder for your family. This will hold copies of your estate planning documents, budget information, and additional contacts and documents.Â

Make copies of your personal documents, like birth certificates, contracts, bank information, and more. You also want to list important contacts like family doctors, your petâs veterinarian, household contacts, and your power of attorney.Â

Once you have your book ready, give it to your most trusted friend or family member. Again, this point of contact will have a lot of information about you that needs to stay secure. Finish it off with any instructions or to-dos for while youâre gone, and your finances should be secure for your leave.Â

While Youâre Deployed

Though most of your needs are taken care of before you deploy, there are a few things to settle while youâre away from home.Â
Romance and identity scams are especially popular and can cost you thousands.Â

Social Media Scams To Watch For

Romance Scam Red Flags

Military Scam Warning Signs

Adjust Your SavingsÂ

Since you wonât be responsible for as many bills, and you may have reduced debt interest rates, deployment is the perfect time to build your savings.

While youâre deployed, you may be eligible for the Department of Defenseâs Savings Deposit Program (SDP), which offers up to 10 percent interest. This is available to service members deployed to designated combat zones and those receiving hostile fire pay.

Military and federal government employees are also eligible for the Thrift Savings Plan. This is a supplementary retirement savings to your Civil Service Retirement System plan.

Savings Deposit Program

Thrift Savings Plan Calculator

Civil Service Retirement System

Military Saves Resources

Additional Resources for Financial Assistance

Deployment can be a financially and emotionally difficult time for families of service members. Make sure you and your family have easy access to financial aid in case they find themselves in need.Â

Each individual branch of the military offers its own family and financial resources. You can find additional care through local support systems and national organizations, like Military OneSource and the American Legion.Â

Family Readiness System

Navy-marine Corps Relief Society

Air Force Aid Society

Army Emergency Relief

Coast Guard Mutual Assistance

Military Onesourceâs Financial Live Chat

Find Your Military And Family Support Center

Emergency Loans Through Military Heroes Fund Foundation Programs

The American Legion Family Support Network

After You Return Home

Coming home after deployment may be a rush of emotions. Relief, exhaustion, excitement, and lots of celebration are sure to come with it. Thereâs a lot to consider with reintegration after deployment, and that includes taking another look at your finances.Â

Update Your Budget

Just like before deployment, you should update your budget to account for your new spending needs and pay. Itâs time to reinstate your car insurance, find housing, and plan your monthly grocery budget.Â

After a boost in savings while deployed, you may want to treat yourself to something nice â which is totally okay! The key is to decide what you want for yourself or your family, figure if itâs reasonable while maintaining other savings goals, like your rainy day fund, and limit other frivolous purchases. Now is not the time to go on a spending spree â itâs best to invest this money into education savings, retirement, and other long-term plans.

In addition to your savings goals, make sure youâre prepared to take care of yours and your familyâs health. Prioritize your mental health after deployment and speak with a counselor, join support groups, and prepare for reintegration. Your family and children may also have a hard time adjusting, so consider their needs and seek out resources as well.Â
FTC | NFCCÂ

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Source: mint.intuit.com

1. Get a handle on camp tuition

2. Plan for expenses beyond tuition

3. Create a year-round savings strategy

4. Find ways to fund your summer camp account

5. Reduce camp-related costs

Focus on the experienceânot the extras

What are UGMA and UTMA accounts?

How do UGMA and UTMA accounts differ from 529 plans?

Why You Need to Open a UGMA/UTMA Account for Your Kids

Things to watch out for with UGMA or UTMA accounts

1. Prep for pregnancy expenses

2. Save for baby-related costs

3. Get creative with your purchases

4. Account for income changes

Sleep soundly (well, eventually) thanks to your budget

Before Your Deployment

Build a Deployment Budget

Prepare a Deployment Binder

While Youâre Deployed

Adjust Your SavingsÂ

Additional Resources for Financial Assistance

After You Return Home

Update Your Budget

Focus on the experienceânot the extras

While Youâre Deployed