Editor’s note: This is the fifth installment of New Year, New You, a weeklong look at your financial health headed into 2025.
Growing up, your family may have been among the millions of American households that simply didn’t talk about finances. Now that you’re part of the military or a military household, you can start making up for that fact with the benefits and tools tailored to military life, many of which are exclusively available to service members.
Because so much of the U.S. military is young — with 40% under age 25 — the Defense Department has in recent years prioritized “financial readiness” to help mitigate some of the challenging aspects of managing personal finances as a military member, such as unpredictable deployments or frequent household moves.
To help jump-start your 2025 financial transformation, we’ve put together this list of some of the most extensive and frequently cited resources of financial information and advice for members of the military:
Free Personal Financial Counseling
U.S. service members can consult dedicated personal financial counselors for free help navigating money issues through the Military OneSource program. The counselors can meet online, over the phone or in person to help evaluate financial accounts and plans or for pointers on how to negotiate with creditors. Troops can access unlimited counseling sessions throughout their careers. They can request a session by calling Military OneSource at 800-342-9647, through the live chat on the Military OneSource website, or by contacting their installation’s Financial Readiness Program or their service or reserve component’s Military and Family Support Center.
Military OneSource Content
The Military OneSource program’s 14 MilLife Guides provide introductions and links to tools to help with topics including the Blended Retirement System, Borrowing, Budgeting and Saving, Controlling Debt, Financial Management (two guides), Food Security, Getting Settled in the Military, Higher Education for Your Children, Housing and Living, Military Flexible Spending Accounts, Taxes, Benefits and Protecting Your Finances. Military OneSource provides information in a range of formats, including courses and podcasts.
Office of Financial Readiness Website
At the website of DoD’s Office of Financial Readiness (FINRED), service members and families can start with a Financial Well-Being Assessment and enter scenarios into the office’s calculator tools for savings, loans, taxes, debt and retirement, figuring out how much they need to save long term with the Retirement Nest Egg Calculator and Retirement Planner for Two Working Spouses Calculator. In addition to articles and videos explaining financial topics and military benefits, FINRED hosts the military services’ service-specific curriculum materials for financial literacy education in its Learning Resource Library.
Military-Oriented Organizations and Nonprofits
A number of organizations outside the military provide information online for military households, particularly on financial topics, such as:
- The Learning Hub of the American Armed Forces Mutual Aid Association (AAFMAA), the self-described “longest-standing nonprofit association exclusively serving the U.S. military community.”
- The Finance page of the Military Officers Association of America (MOAA) and MOAA’s Military State Report Card and Tax Guide.
- The military-specific resources of the Financial Industry Regulatory Authority’s Investor Education Foundation.
Military.com’s Financial Columnists
Kate Horrell and JJ Montanaro draw from their careers in the financial sector and their backgrounds as a military spouse and a veteran, respectively, in their articles for Military.com. Horrell, an accredited financial counselor and personal financial educator, wrote two of the installments in this series: “Investing for Junior Troops: A Guide to Making Your Money Multiply” and “What to Look for on Your January Leave and Earnings Statement.” Meanwhile, it’s actually never too late to consult Montanaro’s year-end financial action plan.
Previous parts in this series:
Part 1: 2025 Guide to Pay and Allowances for Military Service Members, Veterans and Retirees
Part 2: What to Look for on Your January Leave and Earnings Statement
Part 3: Investing for Junior Troops: A Guide to Making Your Money Multiply
Part 4: What to Do with Your 2025 Military Pay Raise
Get the Latest Financial Tips
Whether you’re trying to balance your budget, build up your credit, select a good life insurance program or are gearing up for a home purchase, Military.com has you covered. Subscribe to Military.com and get the latest military benefit updates and tips delivered straight to your inbox.
