10 Money-Saving Tips for Veterans and Service Members
Military families carry plenty of financial stress. Whether you’re on active duty, a veteran, or part of a military family, we appreciate your service and want to help you make the most of your money. We know finances can be a challenge, and that it can sometimes be a struggle to make ends meet or to feel financially confident. If you’re trying to ensure you have enough for daily living and for extras, especially around the holiday season, we’ve put together a list of money saving ideas to help you creatively stretch your budget.
1. Take Advantage of Military Discounts
Always ask if a business offers a military discount, from retail and restaurants to travel and automotive services. The savings add up quickly, especially when combined with additional earnings through your Kasasa Cash Back Checking Account or your Supreme Rewards Visa Signature credit card.
2. Maximize Your Veteran Benefits
Explore your benefits through the VA, such as healthcare, education, and housing assistance. If you are considering buying a home, you may be eligible for a VA Home Loan that can help you get into the property you want with no down payment and favorable terms.
3. Shop Smart at Commissaries and Exchanges
Military commissaries and exchanges often offer groceries and household items at lower prices than civilian stores. Pair those savings with an Andrews Federal Debit Card to track spending easily and securely.
4. Enjoy Free and Low Cost Entertainment
Many parks, museums, and events offer free or discounted admission to veterans. The America the Beautiful Pass, for example, gives free access to national parks for Veterans and Gold Star families.
5. Host Family Fun Nights at Home
Game nights, movie marathons, or backyard BBQs can be just as fun as going out and cost a fraction of the price. Use the money you save to boost your savings account balance.
6. Plan Your Meals
Meal planning reduces food waste and impulsive takeout purchases. Use your Andrews Federal Online Banking app to track grocery spending.
7. Increase Home Energy Efficiency
While there may be a small initial cost, making home updates can significantly improve efficiency. You can seal windows, switch from traditional light bulbs to LED bulbs, and unplug unused devices. Even small changes can lead to noticeable savings on your energy bills.
8. Negotiate Monthly Bills
If you take time to reach out to your service providers for utilities, cell phone service, and more, you may find they’re willing to negotiate with you and give you better rates in exchange for keeping you as a customer. You can also avoid late fees on bills by using our Bill Pay service to automate payments and avoid late fees.
9. Host Swap Events
If you have children, you know they grow fast. Clothing and shoes are often barely used before they outgrow them. Swap events can help multiple families give clothing new life without adding any additional costs. You can also swap other things, including books and toys. Cleaning out your closets and adding new activities is a win for everyone.
10. Plan Travel Strategically
Being stationed away from family may mean additional travel costs to get back together with parents, cousins, and friends. To save money on travel, look for off peak travel times and use one of Andrews Federal’s rewarding credit cards to earn points on flights and lodging. Combine that with military travel discounts and you may be able to harness powerful savings options that make travel more affordable and within reach.
As you consider ways to make ends meet, we are here for you. Andrews Federal is committed to helping military members and veterans build financial strength and long term security. From low rate loans and competitive savings accounts to financial counseling and education resources, we’re ready to help you every step of the way.
