Having a spouse or family member deployed overseas can be stressful enough without worrying about finances. Luckily, there's an app for that.
There are certain money matters that can be more complicated for military families than for average households.
"When a service member deploys, certain incentive pays kick in," said Brenda Linnington with the Better Business Bureau Military Line. "When they come home, those incentive pays go away, so they're dealing basically with a decrease in their spending power."
The free "Military and Money" app for iPhone was recently released by the Better Business Bureau and McGraw-Hill. It features budgeting, debt reduction and savings tools plus military-specific tips on deployments, home buying and selling, debt issues and credit cards.
Brenda Linnington of BBB's military line said it's not just helpful for families, but for young, single, service members seeking advice too. As waves of servicemen and women return home from Iraq and Afghanistan, the BBB suggests families keep one major piece of money advice in mind.
"You may want to go out on a cruise, you may want to go buy a brand new car, or do something that's really big and great, because everybody's feeling good, but it's better to wait when emotions come down a little bit and you can lead with your head and not your heart," Linnington said.
Right now, the app is available for iPhone and iPad. An Android version is in the works.
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