Getting Financially Organized After Military Life

Ahhhhh the military life! It has many challenges but many perks that make it one of the best stable forms of employment to have. There’s the excitement of traveling to new places, meeting new friends, living in different homes and free healthcare. Best of all there is the stability of not only a paycheck on the 1st and 15th , but all the other financial resources the military provides.

Speaking of stability when my husband’s enlistment in the Army ended over a year ago, we had no idea of what we were in store for. Sure we knew that our income would change, there was no chance for moving up in rank which meant an increase in pay ,and we would no longer receive free health care. And even though my husband enlisted in the Army National Guard the pay would only be once a month and several thousands dollars difference.

I had my blog and had even managed to create a full time income with it. However, I was always brought up that a real job meant entering a brick and mortar building from 9-5pm. I had a hard time accepting my income because while for the most part it was substantial it wasn’t consistent. It could take 30-60 days to be paid for one project which meant it was hard to plan what I was going to use it for. It was a struggle the first few months of life after the “Active Duty” military, and because of this I knew we had to implement some different money managing strategies until our situation was stable.

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4 Things We Did Differently

Got My Butt In The Kitchen

I can definitely cook very well but after working all day I was lazy and we would resort to ordering out or eating out alot. At one point I tallied up our eating bill and it was well over $400 for one month. Yeah we ate out alot! While I am not the Martha Stewart of organization I did plot out my meals and made things that would last more then one day. We set an entertainment budget (something we didn’t have before) of $75 a month and once that was gone it was a wrap until the following month.

Pulled Out The Cash

I am queen of swiping my debit card for a $1 soda. No matter what it is I will swipe and magically keep track in my head, except I am not really keeping track. So instead I started pulling out exactly what I needed this way I wouldn’t go over my allotted amount.

Used My Check Register But No Checks

I am not a fan of checks because I like to know the money is gone right away. What I did though was get my mom’s help in showing me how to properly manage my check register to keep track of purchases.

What Did I Pay?

We had a habit of just paying on things and not truly keeping track. I brought a basic notebook and created columns called due date|balance due| Amount Paid| Confirmation #. By doing this I had a simple easy way of seeing where my money was going and where I could make adjustments.

Getting Financially Organized

Eventually things started to come together and even though our finances were back on track we continued to utilize some of the strategies we had implemented from before.

Financial well being is definitely different for everyone. The all around goal is to save money and budget but to do it in a way that works for you. SunTrust Bank offers a really good way of doing that with their resource center. It avoids throwing so called resources out there that offer no guidance ,and real help and instead offers financial solutions that cater to your particular situation.

You will find everything from planning calculators, an expansion of understanding on how to make use better use of online banking tools , as well as tips for creating a successful budget. For every facet of life (ie: just married, buying your first home, retirement) there is a tool on the Suntrust resource center to help you become more organized.

You can learn more and visit the SunTrust resource center by clicking here: https://www.suntrust.com/ResourceCenter/PersonalBanking .

At SunTrust Bank their purpose is lighting the way to financial well being. They help you get organized, make a plan, and stay on track so you can get and stay in control of your finances. When you are confident about about your money, you can save for your goals and splurge knowingly on what matters most to you.

 

To get started visit suntrust.com/getorganized

This is a sponsored conversation written by me on behalf of SunTrust Bank. The opinions and text are all mine.

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