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PayDay Cut-off Date

December 3rd, 2009 at 10:52 pm

Yesterday, creditcardfree informed us the 2010 Housing Allowance rate will be published 17 Dec. So for those of us affailiated with the military, what are your plans for that extra money if you do in fact get an increase. You're obviously living without it right now, so you're used to not having it.

If you have debt, you can use it to go towards your debt. If you're debtfree, you can add it to your savings or whatever goal you may have. I think the biggest thing you can do is set it up so that when the raise becomes effective, it doesn't even hit your account. In other words, have it automatically transferred to wherever you want it to go. Doing it this way helps to alleviate the desire to spend it elsewehere. Just food for thought.

4 Responses to “PayDay Cut-off Date”

  1. creditcardfree Says:

    Very good point! Most likely ours will go towards our girls college funds. We took this last year off to pay down our home equity loan. Smile

  2. Jerry Says:

    BHA is one of the things that I miss from my time in the service, it really leads to some savings if you use it properly! In the event that I am ever back in the military, which I would not mind after school, I will definitely notice the many benefits I took for granted... BHA, insurance, education coverage, etc.

  3. homebody Says:

    YD and granddaughter are living with us for a year while SIL is in Afghanistan. I know YD plans on saving as much as she can since this may be her last opportunity. She is only 22, so I will be "encouraging" her as much as I can without coming off bossy. This will be a challenge for me!

  4. beawealthywarrior Says:

    homebody, your YD has a great opportunity here and hopefully she will "listen to your encouragement". Another idea you may want to give her Dave Ramsey's Total Money Makeover book for the holidays. They are currently on sale at his website for $10.

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