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Financial help
Whether you’re looking for help finding the best deals at your exchange or commissary, seeking investment information as you prepare for retirement or working to improve your credit, our financial columnists can help. You’ll find their columns here, along with information on military-specific state and federal tax issues.
Military homeowners get $54 million in HAP
About 13 percent of eligible applicants have received help from the newly expanded program that provides partial reimbursement for losses taken by service members who sell their homes for...
Higher tax bill may loom for some troops, retirees
Higher tax payments or lower refunds could await some troops and retirees as a result of a tax credit that went into effect last spring in conjunction with the Obama administration’s 2009...
Federal employees get pay supplement when called up
Rob Sperling earns a healthy salary as acting communications director for the Treasury Inspector General for Tax Administration. But, until now, when he was called up to serve his country in the Air...
Jobless rules can be vexing
Navy wife Stephanie Cato found out the hard way that dealing with state unemployment compensation long distance can be frustrating — or worse.
COLA won’t go negative as consumer prices fall
Although the cost of living is falling, paychecks for military and federal civilian retirees won’t get smaller under current federal law.
Financial fitness
’Tis the season ... to get your personal finances back into fighting shape.
Survey: Job search harder for vets
Job searches that last six months or more are much more common for veterans leaving active duty than for non-veterans who are changing jobs, according to a survey conducted for CareerBuilder.com.
Some troops see bump in 2009 clothing allowance
Service members will see relatively modest changes in their annual clothing allowances to pay for wear and tear on their military uniforms in fiscal 2009.
COLA boost higher than pay raise
With inflation running at a rate of 5.4 percent a year, military retirees and disabled veterans are getting a 5.8 percent pay increase — while active-duty service members and reservists are...
Pay and benefits upgrade
The package of military pay and benefits improvements for 2009 took shape earlier this year with approval of a new and generous GI Bill.
Military families can join YMCA for free
Starting Oct. 1, families who do not live near a military installation will still have access to family programs and support services through a Defense Department initiative with the Armed Services...
Phone call provider takes AT&T, AAFES to task
The executive director of a nonprofit organization honored for its efforts to provide 1 million free minutes of phone calls for troops in the war zone used the ceremony at which he was feted to take...
Small COLA hike a surprise to veterans
A 2.8 percent cost-of-living adjustment in veterans’ disability and survivor pay approved by the Senate just before the summer congressional recess is drawing complaints and head-scratching...
Inflation outpacing military pay hike
A 3.9 percent military pay raise for 2009 seemed generous when lawmakers first proposed it in February, but its luster is dimming as rising inflation threatens to erode service members’...
Are service members perceived as a higher foreclosure risk?
Family advocates are concerned that recent reports about home foreclosure rates in areas with a substantial military presence will hurt service members who try to buy houses this summer.
DoD backs automatic TSP signup
The Pentagon supports proposed changes to the government’s Thrift Savings Plan that would automatically sign up troops and offer an investment option that provides tax-free earnings at...
Bills would expand VA home loan offerings, foreclosure protection
A House subcommittee voted April 23 to update the veterans home loan program to expand availability of government-backed mortgages to service members, cut loan fees and stall foreclosure on mortgages...
Lawmakers balk at Tricare fee hikes
Two key senators said April 16 that they will not go along with Bush administration pleas for dramatic increases in Tricare fees for military retirees, and also will work on providing better health...
Commissioner defends proposal for drill duty
Defense officials reacted angrily when a congressionally appointed commission recommended Jan. 31 that the Pentagon should replace the traditional 48 drills per year for reservists with 24 days of...
Go online to get your W-2 faster
Tax season is just around the corner, and those all-important 2007 W-2 forms will start being mailed to service members in early to mid-January. But here’s a reminder: Those who can access...
Group offers free credit scores to troops, families
Service members and their spouses can now get a free credit score — an analysis of their creditworthiness — as well as a personalized action plan to improve that score.
Congress tries to fix GI Bill for reservists
A bipartisan bill to fix a glitch in GI Bill eligibility that has denied thousands of National Guard and reserve members the right to bigger education benefits has run into an unexpected hurdle...
Some charities choose to it alone in the CFC
Among the 278 new national and international charities that have made it through the Combined Federal Campaign’s vetting process this year are USA Cares, a Radcliff, Ky.-based charity that has...
Law restricts family loan options
Some military personnel and their families will find that certain loans are no longer available to them Oct. 1, as payday loan companies and other lenders consider their options in preparing for a...
Officials: Scheme may have cost troops $50M
State and federal agencies are investigating an allegedly fraudulent investment scheme targeting service members that apparently has spread to 23 states — and to troops in Iraq and Afghanistan,...
Sending mail to troops gets more costly
The cost of postage stamps may have increased by two cents, or 5 percent, but rates for packages have gone up a lot more in some cases, say those who support the troops.
AAFES reminds workers of some troops’ lower interest rate
The Army and Air Force Exchange Service has ramped up training for employees in its exchange credit program call center after questions arose about whether the employees are reducing credit card...
A HUD glossary
Mortgage modification: If you can make payments on your loan but don’t have enough money to bring your account current or can’t afford your current payment, your lender may be able to...
VA loans solid during crisis
While the collapse of the subprime mortgage market has rocked the U.S. economy and frightened homeowners, the veterans’ home loan program has remained steady as a rock.
Mortgage troubles? Consider your options
If you are having trouble paying your mortgage, or think there’s the slightest chance that you will have trouble paying it, do not ignore the problem.
10 strategies to make good credit even better
At a lecture I gave, I met a woman who complained that her credit scores, once more than 800, had dipped down to the 770 area and asked what she could do to get them back up to the magical 800 mark.
10 tips on managing your credit cards
The fastest ways to send your credit scores skyrocketing — or make them crash and burn — all have to do with credit cards.
Prying eyes can steal your ID, so take secure steps
In the movie “Enemy of the State,” Will Smith’s character had his life destroyed by renegade government intelligence officers. Police believed he murdered his friend, and he was...
Stay in driver’s seat when you buy a car
You’re young (or not) and you want your first car (or your fifth). The big G is paying you and paying for your housing, too. What else are you going to spend your money on — beer? The...
Don’t let car dealers run you over
Bad credit. No credit. Bankruptcy. It doesn’t matter. You want to buy a vehicle? There is financing available for you.
Making millions is easier than you may think
Are you being taken advantage of (ripped off, cheated, scammed, defrauded) by companies and businesses that see you as nothing more than a fistful of dollars? In fact, many companies see you as years...
Buying home doesn’t require perfect credit
Being a homeowner can help make you a multimillionaire or it can crash you into bankruptcy, foreclosure — or worse — or somewhere in between.
Credit repair need not take years
“My credit scores are terrible! They want 19 percent interest for my car loan! Help me get my scores up, pleeeeze!”
Good credit leads to good fortune
Money. The stuff just causes stress, doesn’t it? We want more of it, can’t get enough of it, spend it too fast, borrow it too often, fight about it, dream about it and scream about it....
7 common-sense rules for increasing your wealth
Money is a fascinating subject to most of us. We think about it, dream about having lots of it and fantasize about how wonderful our lives will be when we have “enough” money to be happy...
Create wealth with mutual fund share builder accounts
Mutual funds are an excellent vehicle for monthly investments, as they automatically give a degree of diversification to your investment not possible when investing in individual stocks.
Law protects civilian retirement plans for Guard, reserve members
Under the Uniformed Services Employment and Re-employment Rights Act, Guardsmen and reservists have a number of rights to protect them against discrimination from their civilian employers because of...
New law gives troops a second chance to add to IRA
The Heroes Earned Retirement Opportunities Act, signed into law May 29, is significant for those who have spent or will spend much of the year deployed to an area eligible for the combat-zone tax...
Make rental property part of retirement plan
If you are fairly sure where you want to relocate after you leave the service, purchasing a home in that area and renting it out until you retire can be an excellent strategy.
4 tips to find a financial planner
Most people would greatly benefit by getting their financial house in order: creating a workable budget, planning for retirement and college educations, starting a periodic investment program...
Paying off mortgage has long-term benefits
Deciding whether to pay off your mortgage is an important part of your financial planning process. Although mortgage rates are low and there’s a probability of getting equal or greater returns...
23 rules for boosting wealth
I've been investing a long time, and almost everything I have learned has been by trial and error, and a lot of both. Being a stubborn person, I've been known to make the same mistake...
Long-term credit cost of a big-screen TV
Credit cards are a wonderful invention. Used properly, they allow people to buy and sell with ease. Bills can be paid by telephone or on the Internet, and the wise use of credit cards establishes...
Simple rules for buying rental property
In general, buying rental real estate is simply an investment decision. You need to ask yourself if buying this single-family home, town house or condo makes sense as an investment. To determine the...
Reinvestment is key to long-term growth
Buying dividend-paying stocks that increase their dividends each year, reinvesting those dividends, and, if possible, buying additional stock each month are excellent ways to achieve above-average...
Regular investments are an easy way to save
12/13/2004During the 1990s, the magic road to riches meant buying the right tech stock and watching your investment soar in value....
Military pension would be hard to match
It's fairly easy to calculate the dollar amount of a military pension after 20 years of active service, and we know a military pension is indexed for inflation so that it goes up over time as...
How to make Roth IRAs work for you
All pay, including regular pay and special allowances, is tax-free while a service member is serving in a combat zone.
Consumer Watch: 5 years in house required for tax break
A Marine gunnery sergeant asked whether he qualifies under a change in law that allows long-term homeowners to get tax credits of up to $6,500 when they purchase new residences.
Consumer Watch: Don’t ignore tax bills, even wrong ones
Three Army officers previously stationed in California are wondering why they got state income tax bills from California, even though they are now legal residents of other states.
Consumer watch: New options for gift vouchers and cards
Good news for military shoppers: Commissary officials have come up with a new gift certificate program that doesn’t tack on extra fees. And more exchange customers can use gift cards online.
Consumer Watch: Avoid Tricare fraud
Retired Army Sgt. Maj. Charles Burns was highly suspicious when two men came to his home, claiming to be representatives of a Tricare contractor.
Uncertain timing on loan program making homeowners unhappy
Many of you are extremely frustrated as you wait to find out whether you will get help from the expanded, $555 million Homeowners Assistance Program, designed to help certain military and federal...
Consumer Watch: Think twice before you pay
A 20-year-old soldier headed to the exchange at Fort Bliss, Texas, on June 7 to buy a phone card. By the time he left, he had committed to buying more than $3,000 worth of books.
Military lodging often your best deal
Whether you’re hitting the road for a vacation or looking for a cheap weekend getaway, the hunt for inexpensive lodging begins at your computer and with some resources on your local...
Maine AG wants uniform refunds on fast track
The Maine attorney general’s office is taking action to speed up refunds for military uniform items ordered from Military Accessories and Community Support.
Make your money travel
Now’s the time for military families to take that dream vacation for a couple of weeks — or even a long weekend — without breaking the bank.
Limits set for CertifiChecks
Now that commissaries and exchanges are all onboard with accepting the gift certificates known as CertifiChecks, even though the contractor for the program is defunct, customers need to be aware of...
Customers left in lurch with useless gift certificates
Commissary patrons have been left holding useless commissary gift certificates after the company that administered the program, CertifiChecks Inc., abruptly went out of business Feb. 26.
Credit card companies feel the squeeze
The bills probably have rolled in after the holiday spending spree, possibly adding to balances you’ve already racked up.
Sgt. Shopper: Don’t be rushed or misled by insurance pitchmen
Strolling through the mall or waiting in line to see a movie, you’re probably not thinking about buying life insurance or making an investment. But you might be approached by a salesman, so...
How safe is your bank as financial markets melt?
With all the screaming headlines about the recent earthquakes in the financial sector, have you been wondering about the safety of your money in banks and credit unions? Maybe considering whether it...
Military stores having gas pains
Do you know anyone not paying attention to gas prices? Many people are taking steps to reduce the amount of fuel they use.
Send new boxes to beat post office rate hikes
The May 12 postal rate increase will hit your wallet — but you’ll still get a break shipping larger flat-rate boxes to APO and FPO addresses.
Budget strategy a big part of downsizing your debt
On March 10, 2007, Sgt. 1st Class Reno Peterson and his wife, Lisa, made a rash decision. They decided to live on their income, within their means, and stop buying on credit.
Law limits troops’ options for tax-refund loans
If you’re counting on getting a refund anticipation loan ... don’t. Those are loans for the amount of your anticipated tax refund until the refund itself comes in to repay the loan...
Military-friendly lenders may be helpful during housing crisis
With all the news about mortgage loans gone bad, homes in foreclosure and housing prices dropping, you may be wondering what you can expect if you’re looking to buy a home or refinance your...
Get creative when tackling holiday debt
Listen up. Still feeling that holiday glow? Will you still feel it when the bills start hitting your mailbox this month?
Coupons can mean big savings — if they’re real
Listen up. Coupons are popular with military families looking to stretch their money. Nearly 128 million coupons were redeemed in military commissaries in 2006, with a total savings of nearly $94...
You’re entitled to free credit reports
Listen up. Keeping tabs on your credit report is important for a lot of reasons. Mistakes on the reports can cost you money in higher interest rates. And if someone steals your identity, you might...
Quick cash: options to payday loans
Listen up. Have you tried to get a payday loan lately? Do you plan to rely on a payday loan or refund anticipation loan to pay your holiday bills early next year?
Some troops qualify for loan interest rate reductions
Listen up. You’ve likely heard about the Servicemembers’ Civil Relief Act, the law that provides protections for troops in a variety of ways, many of which apply to anyone who deploys.
How to handle yourself at ‘selling’ get-togethers
Listen up. In that tightly knit military community where you work and live, you may know spouses who sell kitchenware, jewelry, baskets, skin-care products and any other item imaginable.
Learn how your insurance works — before you need it
Listen up. When you spend your hard-earned dollars on personal items, from a TV to clothes and dishes, you want to protect your investment in case something happens to your home, whether you own or...
Rewards program for exchange credit cards
Listen up. Do you rack up rewards points on your credit card when you make purchases? Like earning 1 percent or more cash back, or points toward free airline tickets?
Program aids home sellers affected by base closings
Listen up. Here’s the situation: You bought that great house near your current duty station several years ago, hoping to serve a couple of tours there. The housing market was booming, and you...
Don’t get trapped in a cell phone contract
Listen up. Choosing a cell phone company and deciphering cell phone contracts can be difficult at best. But cell phone contracts present even more challenges when you’re in the military —...
Avoid payday loans; try your bank first
Listen up. The Federal Deposit Insurance Corp. is looking out for you, encouraging banks to offer affordable loans for the military community.
Cheaper alternatives to payday loans are surfacing
Listen up. More credit unions and banks are beginning to provide loans that are better alternatives to payday loans, for both the military and civilian communities.
9-year-old sets comparison-shopping example
Listen up. Maybe it's time to shake things up and re-evaluate some of the food you're buying and products you're using. Are you getting the best bang for your buck?
Never send money first to get a loan
Listen up. It's still happening. Scam artists are bilking troops and their families out of hundreds, even thousands, of dollars with illegal loans. The sad thing is, it's difficult to catch...
Make call for phone discounts
Listen up. As the holidays loom, we’re all even more vigilant than usual in looking for the best deals to make phone calls to friends and loved ones who may be halfway around the world.
Tips for buying identity-theft insurance
Listen up. We all want to keep our Social Security number and other personal information safe from sleazebags who are trying to steal it so they can drain our bank accounts and charge the moon on our...
Insurance can be safety net for pets
Listen up. We all love our pets, and many of us know how expensive it can be when they get hurt or sick. That explains the growing popularity of pet health insurance.
Before you mail out goodies, think gift certificates instead
Listen up. Whether you're on your first deployment to Iraq or Afghanistan or your fifth, you can help your friends and family get the most for their money when sending care packages to you.
Lawmakers consider military tax breaks
Army National Guard Maj. Alan Johnson, 44, was killed Jan. 26, leaving behind his wife, Victoria, and a 15-year career as a Yakima County, Wash., corrections officer.
Don’t forget to ask for your phone tax refund
Taxpayers have already received almost $87 billion in income tax refunds this year, but many are neglecting to ask for a modest refund from a now defunct
Navigate your state (N – Z)
Below is a state-by-state guide with general information on filing your state income tax return for 2006. For more information, see the Web sites or call the phone numbers listed for each state.
7 credits all troops should know
There are a number of credits that can make a nice dent in the amount of taxes payable, from the Earned Income Credit to credits for children and education-related expenses.
Road to a big refund
Good intelligence is essential to success in combat — and tax season is no different.
Essential intel: Links to military tax info
One of the most critical documents you need at tax time is your W2 form, which you include with your tax documents when you file. Like Leave and Earnings Statements, service members’ W2 forms...
Taxpayers have until April 17 to file, pay
Taxpayers around the country will get an extra two days, until April 17, to file 2006 returns and pay taxes owed, the Internal Revenue Service said.
Navigate your state (A – H)
Below is a state-by-state guide with general information on filing your state income tax return for 2006. For more information, see the Web sites or call the phone numbers listed for each state.
Navigate your state (I – M)
Below is a state-by-state guide with general information on filing your state income tax return for 2006. For more information, see the Web sites or call the phone numbers listed for each state.
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