ScoreSense® worked with the team at Military Makeover with Montel to transform the home and life of the Stupar family.
Your Military Journey
Make the most of your service: Stay on top of your finances at every step of the way. Life in the military is full of sacrifice and rewards, but it also can present unique financial challenges. Many military families deal with financial struggles due to:
- Overseas deployments
- Frequent relocations
- Regular upheaval of spouse’s career
- Lack of military-specific financial advice
Despite the challenges, a military career can offer a reliable paycheck and opportunities to build a financially secure life while serving your country. To build a comfortable life in the military, it’s important to take the right financial steps at every stage: before you join, while you’re active, and as you transition back to civilian life.
At ScoreSense, we’d like to thank you for your service and help you learn more about the right financial steps to take at every stage of your military journey.
Joining the military is an important commitment. You need to be prepared physically, emotionally, and financially. Make sure you’re ready financially by completing the following steps.
- Check your credit. The U.S. Department of Defense will review your credit report before you join. Review it yourself first to understand what’s in it and to detect any errors.
- Understand military pay. Before starting any job, you need to understand what you’ll be earning so you can plan for expenses. Military members receive basic pay, housing allowance, subsistence (food) allowance, medical and dental benefits, bonuses and special pay, and a uniform allowance for non-officers.
- Build a budget. Create a plan for how you will spend your money each month. If you’ve never used a budget before, try to commit 50% of your income to needs, 30% to wants, and 20% to savings and debt repayment.
- Understand the SCRA. The Servicemember’s Civil Relief Act offers protection and benefits to help reduce financial burdens for active military members. Through the SCRA, any debt you incurred before joining the military must be reduced to an interest rate of 6% or lower. In some cases you may terminate an apartment or car lease and you may be protected from foreclosure.
Put Your Credit
to Work for You
Protect Your Credit
Get Started with ScoreSense®
ScoreSense® provides accurate, personalized credit information and the insights to help you understand it, backed by live customer care representatives and credit specialists available by phone. Millions of consumers have trusted ScoreSense® to track their credit score and help protect them from identity theft.
- See what lenders may see. Monthly updates to your three credit scores
and reports from all three bureaus show you where you stand.
- Understand your scores. Credit Insights pinpoint what’s most affecting
your scores, so you can make informed decisions.
- Know when things change. Daily Monitoring alerts you to suspicious
activity that may pose a threat.
- Protect your money. Up to $1 million identity theft insurance* helps offset the high cost of repair should identity thieves strike.