Make a Budget
The first step to preparing your finances before your deployment is to make a monthly budget. Look over the expenses your household typically encounters on a monthly basis. Itemize your financial accounts. The budget should include every expense that you pay at regular intervals. Here's a sample list:
- Rental or mortgage payments
- Car payments
- Credit card bills
- Insurance bills
- Food expenses
Once you've determined your monthly budget, it's a good idea to add some padding in case you encounter unforeseen expenses. You may also want to look into ways you can make your dollars go further by exploring various savings opportunities.
Your budget information will be invaluable to anyone who handles your finances in your absence. The more data you can provide to that person, the better your chances will be that you won't need to fix any financial problems when you return.
The budget should give you a good idea of what financial issues you and your family will face each month. It might also reveal ways you can save money while deployed. A monthly budget is a great idea even when you're not scheduled for deployment.