Saving for a permanent change of station

Saving for a permanent change of station

Although every member of the military is aware of the fact that they need to have the funding available to be able to move their entire household at a moment’s notice, a recent study from the Department of Defense found that around 10% of enlisted members lack the savings necessary to cover expenses should their next pay check be missed, let alone to be able to afford to move across the country.

Although the service has made improvements to the amount that it is able to reimburse personnel when it comes to relocation, it can still take several months for this money to actually go into the account of the service member.  The good news, however, is that there are a number of methods to save for a permanent change of station that can equate with your general budget goals.

One of the largest problems with saving for relocation is that it is almost impossible to know for certain just how much it will actually cost.  Moving across town usually costs very little, while moving halfway across the United States is considerably more expensive; indeed, even relocation out of the country can sometimes cost less than a move within it due to the money provided for OCUNUS PCS.

It is still possible to be able to save for the expenses you are likely to face during such a move, such as utility set-up fees, gas, meals, and hotel bills.  You can also work out the driving time to the farthest base from where you are currently located and the average cost of such a road trip.

Rick Wozniak