Rich Girl Roundup: The Financial Benefits of Being Active-Duty Military

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 27 March 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Katie's husband Thomas has been an active-duty US Air Force JAG since 2021, and we've received many questions over the years about military benefits and finances. Here's the TL;DR on the perks of being active-duty military or a dependent based on Katie's personal experience, from accessing VA loans to basic allowances for housing. Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. Learn more about our sponsor, Betterment: https://betterment.com/moneywithkatie - Mentioned in the Episode Military Benefits for Active Duty and Veterans: https://www.benefits.gov/categories/Military%3A%20Active%20Duty%20and%20Veterans VA Loan: https://www.va.gov/housing-assistance/home-loans/eligibility VA Home Loan Process Checklist (Page 9): https://www.benefits.va.gov/HOMELOANS/documents/docs/VA_Buyers_Guide.pdf The Reluctant Landlord: https://www.reluctantlandlord.net/ Military Pay & Pensions: https://www.usa.gov/military-pay Thrift Savings Plan: https://www.dfas.mil/civilianemployees/employeebenefits/TSP/ Basic Allowances & Military Income: https://militarypay.defense.gov/pay/ Military Taxes & Residency: hrblock.com/tax-center/lifestyle/military/military-taxes-and-residency/ Military Health Insurance (TRICARE): https://www.tricare.mil/ Credit Card Benefits: https://www.americanexpress.com/us/help-support/service-members-civil-relief/ - Read Money with Katie: https://moneywithkatie.com/ Follow Money with Katie! Instagram - https://www.instagram.com/moneywithkatie Twitter - https://twitter.com/moneywithkatie TikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Rich Girl Roundup!
0:03.6	Welcome back Rich Girls and boys to the Rich Girl Roundup weekly discussion of the
0:12.5	Money with Katie Show.
0:13.8	I'm your host, Katie Gatti Tossan, and every week we will answer a burning question.
0:19.1	Here is a quick message from our sponsors.
0:29.5	And as on vacation this week, so it's a conversational roundup of me talking to myself, which
0:34.6	is pretty reflective actually of what my house is like most of the time anyway, so enjoy!
0:45.0	As some of you may know, my husband Thomas has been an active duty US Air Force Jag since
0:49.9	2021, and over the years we've received a number of questions about military finances
0:57.0	as in the finances of those in the military, not the government's military budget, which
1:03.3	is much larger than mine, but there's a lot more than meets the eye.
1:06.6	So I figured I'd cover some of the pennies of being active duty military or a hashtag dependent,
1:12.4	which is what I am, a military spouse.
1:18.8	So to start, I'm going to disclaim that as with most things, money with Katie, this
1:22.0	is not an objective exhaustive list.
1:25.2	It's really just going to be a reflection of my own experience, and I'm going to try
1:28.7	to address the really major stuff.
1:31.3	So there will be benefits that I don't cover today.
1:34.6	We're going to link a full list at benefits.gov in our show notes.
1:39.4	All right, so the most common military related benefits question that we get is definitely
1:46.4	around buying house with a VA loan, especially if you are moving a lot for different
1:55.2	tours or duty stations or bases.
	...

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