Maintaining as a MIlitary Family- Managing a Move
This is a new series of the blog titled “Maintaining as a Military Family”. A little about me…I go by codename Di and have joined the ranks of the fab bloggers for debthelper.com. My goal is to add some insight into what a Military Family does to “get by” and SAVE!!
Military life can be excruciatingly painful on the wallet. My husband joined the Army in the lowly (but highly respectful) rank of Private 14 years ago. We had children young (not uncommon within our Military communities) and therefore money was TIGHT. Relying on one income was almost unbearable. One of the biggest expenses is when there is a Permanent Change of Station (PCS or what normal people call relocating). Most Military Families have traveled and spent time overseas. This was the beginning of our journey, but not before I had to stay behind with our daughter while he went away to “Army school”. We could have rented an apt near his school and collected minimal Basic Allowance for Housing (BAH), extra pay based on location, rank and years in service. However, this was never enough to cover all the expenses (utilities, incidentals, etc). So, we did what would save us the most money and I moved in with my mother for 3 months. While this is not ideal…it allowed us to actually earn money (Basic Allowance for Housing is a benefit no matter where you live). The way to manipulate this situation in order for everyone to be happy is pay your Family or friend, with whom you shack up with, a portion of what you receive and stash the rest for your upcoming move (there always an upcoming move in the Military).
Moving is quite expensive and the Military does a pretty good job of covering all the basic expenses…AFTER you get to your new location. Reimbursements are always a killer for young people starting out in their career because it requires you to come out of pocket ahead of time. The best way to tackle this problem is to plan your move. MilitaryOneSource.com has up to the minute info on all things Military…preparation and planning is their purpose. Once a person is aware of the upcoming expenses, the bottom line doesn’t seem as scary. If flying overseas is how you will relocate, there isn’t much to control or decide as far as actual travel. Hotels stays before & after the flight, rental cars and food costs are the main expenses of a move that are controllable. I always use coupons and ask what kind of discounts there are…there’s usually always a coupon online or a discount offer at hotels, just ask.
Here are some sites I use when traveling (during a move or not):
http://www.retailmenot.com
http://www.hotels.com
http://www.destination360.com
http://www.roomsaver.com/
http://www.hotelcoupons.com/
http://www.valpak.com
http://www.savings.com/c-Restaurant-coupons.html
The obvious Orbitz, Travelocity, and Expedia are first choices for airfare, rental cars and hotels, but my personal fave is Hotwire. They have the best prices and package deals, plus they are fair when it comes to disputes and customer service. (I once booked a sport utility vehicle for a week and when I showed up there were only vans, which would have sufficed. I did call Customer Service to ask them about the difference in pricing and they refunded me HALF of my fee for the week.) Asking for a discount makes a big difference sometimes.
Moving also requires you to go through all that “junk” lying around in the garage or attic. One of the benefits for me when it comes to moving is that I am motivated to purge….my old stuff that is. There are several things you can do with that old jewelry box or winter coat…all WHILE earning money.
Have a yard sale without even leaving your home
Rent a booth at a flea market and sell your heiny off (beware of hagglers)
Find your nearest consignment shop and let them sell your stuff (my fave)
Donate to the thrift store or Goodwill (and get a tax deduction)
Someone is bound to love that wicker basket you are sick of.
Overall, my best advice is to begin saving the MINUTE you join the Military (more on that later). Moving is just one of the many expenses you will incur in a lifetime. Don’t even get me started on the surcharge for kids.
We’ll save that for next time…
6 Old-School Savings Tricks Are Back
It’s no secret that consumers have grown more frugal: Excessive spending is out and saving is in. “It’s become chic to talk value,” says Julie Winskie, the chief client officer at marketing firm Porter Novelli, which tracks consumer behavior for retailers.
Like fashion, spending trends often cycle in and out, but what’s interesting about this go-round at frugality is how it’s playing out. Old savings strategies are seeing a resurgence, and some of the most popular tactics – couponing, layaway and haggling – date back to prior recessions.
Will those practices someday go the way of padded shoulders and track suits? It may take years or even decades, but the larger population will eventually end up back in the “greed is good” mentality, says Scott Testa, an assistant professor of business administration at Calibri College in Radnor, Pa. Forty-five percent of adults now spending less than they were a year ago say that if their financial situation were to improve over the next year, they would go back to their old spending habits, according to the National Foundation for Credit Counseling’s 2009 Financial Literacy Survey.
Still, consumers looking to develop good savings habits for the long haul can jump on the bandwagon now with these six old-school thrifty behaviors:
Clipping coupons
Americans avidly clipped coupons through the 1980s, but by the ’90s, their popularity began to wane. Last year was the first year since 1992 that coupon use didn’t decline. And so far this year, shoppers have used 20% more of issued manufacturers’ coupons, according to the Promotion Marketing Association, which tracks coupon redemption. This trend is likely to persist because of efforts by manufacturers and retailers to make coupons more easily available online, says Stephanie Nelson, the founder of CouponMom.com, which tracks deals. (For a list of some of our favorite coupon sites, click here.)
Haggling
In recent years, bargaining for a lower price has been relegated to yard sales and flea markets, but that’s beginning to change. “Now, consumers are much more creative and frankly, much more aggressive about asking for a better price,” Testa says. To retain customers amid slowing sales, even mainstream retailers are open to negotiation on prices — especially if you can point to better deals at a competitor. (For more prime haggling opportunities, click here.)
Another expense worth haggling over is rent. According to a summer survey from property listing site Rent.com, 68% of landlords are now offering free or reduced rent to tenants. (For tips, click here.)
Price comparison
“A portion of the population has always done this, but now it’s across all income levels,” says Ann Mack, the director of trend-spotting at brand-building agency JWT. It’s a strategy so ingrained that many shoppers compare prices without thinking, whether online or in person. But now more of those shoppers are taking their findings to heart. Some are even splitting their grocery shopping up to take advantage of more rotating weekly specials at local stores, Mack says. (For the best online price comparison sites, click here.)
Bartering
The Internet has expanded opportunities for consumers who want to trade goods and services without money. Craigslist reports that the number of posts in its barter section has more than tripled over the last 24 months. The company declined to provide more specific current figures. (For tips to effectively barter, click here.)
Group buying
Many frugal consumers not only share deals with their peers, but also band together to get a better value, Winskie says. “It’s mothers, neighbors, buying in bulk and splitting the cost to save,” she says. New sites like Groupon also offer shoppers the opportunity to get discounts by collaborating with strangers. (For details, click here.)
Layaway and Christmas clubs
Thanks to the credit crunch, retailers and consumers are looking at these old options, which had faded with disco. “They went away as people bought things on credit and found other ways to pay,” Testa says. Last year, Sears (SHLD: 66.53*, +0.35, +0.52%) and Kmart heavily promoted their longstanding layaway programs. This year, they introduced a new Christmas Club that matches 3% of consumers’ savings.
Source: SmartMoney
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