How to Cancel Unwanted Subscriptions
The Military Money Expert Blog
by Lacey Langford, AFC®
5M ago
Subscriptions are everywhere. From streaming services to online memberships, it’s easy to accumulate rack-up subscriptions without even realizing it. That’s not even factoring in the frequent moves that come with military life. The financial drain caused by unwanted or unused subscriptions can sneak up on you. In this article, I’m going to share the importance of identifying and canceling unnecessary subscriptions to keep your budget under control. Identifying Unwanted Subscriptions One of the first steps in canceling unwanted subscriptions is to identify them. Often, these subscriptions lurk ..read more
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How Borrowers Can Prepare for the Student Loan Repayment Restart
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
As the pause on loan payments comes to a close, it’s essential to gear up for the impending student loan repayment restart. Whether you’re reacquainting yourself with making these payments or facing them for the first time, preparations for your budget are in order. Here’s what the restart is and some steps you should take to prepare for this transition to restarting student loan payments. What is the Student Loan Repayment Restart The loan repayment restart is the resumption of regular monthly loan payments and the end of the interest rate freeze on federal student loans. If you had your fede ..read more
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Why Military Families Should Use 529 College Savings Plan
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
Saving for college can be daunting for military families, but a 529 college savings plan can help make it easier. A 529 plan is a tax-advantaged investment account that allows families to save for education expenses from kindergarten through graduate school. These plans offer a range of benefits, including tax-free growth, flexible investment options, and the ability to transfer unused funds to other family members. In this article, I’ll take a closer look at what 529 plans are, how they work, and why they are an excellent tool for military families saving for college. Whether you’re a parent ..read more
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4 Effective Ways Service Members Can Use the TSP F Fund
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
The TSP F Fund is an individual fund available within the Thrift Savings Plan (TSP) to invest your contributions. Knowing the most effective way to use the F Fund can help you earn more money in the long run and reach your investment goals. The most effective ways for service members to use the TSP F Fund are for diversification, lower risk, and capital preservation. Before I jump in, just a reminder… I’m a financial coach and don’t give investment advice. My article is intended to educate you on the F Fund. If you want financial advice for your unique financial situation, I recommend reaching ..read more
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The 4 Best Uses of the G Fund for Service Members
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
The four best uses of the G Fund are based on the objectives of the fund. They are to preserve capital—your investment and interest—and earn a return rate above short-term U.S. Treasury securities. Before I break down the G fund, just a reminder… I’m a financial coach and don’t give investment advice. My article is intended to educate you on the G Fund. If you want financial advice for your unique financial situation, I recommend reaching out to a financial coach or fee-only financial planner for help. Just like any investment, there are pros and cons to a government securities fund. Here are ..read more
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Military Appreciation Month 2021 Week 1 Celebration
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
My Military Appreciation Month 2021 Week 1 celebration is underway. For the entire month of May 2021, I’m doing a series of events to celebrate and show appreciation for the military community. I’ll be doing a live show every Monday, Wednesday, and Friday on YouTube, LinkedIn, and Facebook, where I’ll interview fun guests on military life, money, and entrepreneurship. Every Tuesday, I’ll be hosting a fun giveaway, and on Thursday, I’ll be releasing a “how-to” video on various topics. Before I get into all of the events, I first want to say thank you to my sponsor, Self Financial. My Military A ..read more
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What is an ETF and Why They Are Important For Investing
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
If you’re taking a deeper dive into your investments, you may be wondering, what is an ETF? It’s a good question. And one, you should know the answer to make informed decisions about your investments. Knowing what an ETF is and how they work can help you decide whether they’re a good fit for your investment strategy. As with any investment, there are pros and cons to an ETF. Here are the ins and outs of the funds. What is an ETF? (the Simple Answer) An Exchange Traded Fund or ETF is a type of fund—or a basket of securities— that can be bought and sold on an exchange like the stock market. It’s ..read more
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The Financial Guide to Help You Through a Military Divorce
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
Divorce is hard enough, but a military divorce is even more challenging. Just like getting married in the military, a military divorce has some red tape. Unlike a civilian divorce, there are factors like the Servicemembers Civil Relief Act (SCRA), military pension, and base privileges to iron out. Divorce—civilian or not—can be lengthy, distressing, and expensive. A military divorce is the divorce of a service member and their spouse. State and local laws set the process for divorces, but federal law limits how much of a service member’s earnings and pension can be awarded in divorce proceedin ..read more
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How to Make Your Military Taxes Ready
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
Military taxes are income tax with a military twist. There are “special rules” afforded to those in uniform regarding taxes. But do you know what they are and how to apply them? Your unique tax situation can influence other areas of your life. From what kind of retirement account you should invest in, to whether you should rent or sell your home when you PCS. Having a better understanding of how tax situations are treated during military service may improve your financial decision-making. Military taxes are federal and state income tax filing for U.S. service members and their dependents. Mili ..read more
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How to Get the Most Out of Your TRICARE Benefits
The Military Money Expert Blog
by Lacey Langford, AFC®
6M ago
Getting the most out of your TRICARE benefits means saving money and taking care of your health. The problem is, it’s a big program, with many different plans, regions, and eligibility. There’s a lot to know and do when it comes to enrolling and getting care. TRICARE is comprehensive medical care for the military. It covers service members, retirees, and family members. TRICARE’s role is to keep the military mission-ready—fit to fight. I’m going to break down what TRICARE is, who’s covered, the benefits, and how to enroll. Here’s how to get the most out of your benefits. What is TRICARE? It’s ..read more
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