Financial Wellbeing

Embracing Sisterhood and Financial Literacy: A Challenge for Military Families

Written by Tracy DuShane, Albany ‘15 

Relocating can be a significant undertaking for military families, and understanding the associated expenses is crucial for effective financial planning. As a former United States Marine Corps spouse from 2001 until 2017, I experienced firsthand the unique financial challenges that come with moving frequently. Throughout my journey, I moved eight times before my eldest child even reached eighth grade, making budgeting and financial literacy essential skills each move. 

The Challenge

To honor the spirit of Alpha Xi Delta and support military families during their transitions, this financial challenge emphasizes the importance of understanding and managing relocation costs.

For military families, it's crucial to track all relocation-related expenses to maximize potential reimbursements from the military. Understanding the allowances available, such as the Permanent Change of Station (PCS) benefits, can aid in budgeting effectively. Planning ahead and creating a detailed moving budget can help families navigate the financial challenges of relocation, ensuring a smoother transition to their new home.

Here’s a detailed overview of the various expenses that military families may encounter during a move, along with actionable steps to prepare for these challenges.

1. Transportation Costs
Relocating as a military family often begins with transportation costs, which can quickly add up and strain budgets. Expenses such as fuel for moving vehicles, tolls, and accommodations during travel need to be carefully considered. To mitigate these costs, families can create a detailed travel budget that outlines expected expenses. Using apps to find the best routes and current fuel prices can also help save money. Planning meals in advance and packing snacks can reduce the need for costly roadside dining, making the journey more affordable.

Challenge: Track all travel expenses during your next move, including fuel, tolls, and accommodations. Create a travel budget to estimate costs and stick to it.

2. Moving Services
When it comes to moving services, families must navigate the potential costs of professional movers and packing supplies. While military families may be eligible for reimbursement for certain moving expenses, hiring professional movers can still incur costs that aren't fully covered. To save money, families should research and compare quotes from different moving companies and consider DIY options for packing. Using materials already on hand, such as boxes from local stores or repurposing household items for packing, can significantly reduce expenses related to packing supplies.

Challenge: Create a checklist of packing supplies needed and see how you can minimize costs by using items you already have.

3. Temporary Housing
Temporary housing represents another significant expense for military families during relocation. Upon arrival at a new duty station, families often need to find lodging while searching for permanent accommodations, which can be costly. To ease the financial burden, families can budget for temporary housing and explore various local options, such as short-term rentals or extended-stay hotels. Utilizing military resources or networking with other military families can lead to discovering more affordable lodging alternatives, helping families save money during the transition.

Challenge: Understand the costs associated with temporary housing during your move. Look for budget-friendly lodging options and calculate how long you may need to stay. Consider the implications of pet boarding if you have animals.

4. Storage Fees
If a new home isn’t ready upon arrival, families may need to rent a storage unit for their belongings, adding to the financial strain of moving. To minimize storage needs, families can declutter before the move, identifying items to donate or sell. This not only reduces the volume of belongings that require storage but can also provide a little extra cash to help cover moving costs. Researching local storage options and comparing prices can further ensure that families find the most affordable storage solutions available.

Challenge: Evaluate whether you need storage for your belongings and research local storage unit prices. Create a plan to minimize the amount of stuff you need to store by decluttering before the move.

5. Home-related Expenses
Home-related expenses can also present challenges during a military move. Setting up utilities at the new home may involve installation fees and deposits, and if repairs or modifications are needed, costs can escalate quickly. To prepare for these potential expenses, families should research utility companies in advance and inquire about any fees associated with setting up services. Creating a maintenance budget to cover unexpected home repairs can also help families avoid financial surprises as they settle into their new environment.

Challenge: Anticipate potential home-related costs when settling into a new place. Create a maintenance budget to cover unexpected costs.

6. School Transition Costs
Transitioning children to new schools can add another layer of expense during a military move. Families may need to purchase new school supplies, uniforms, and pay registration fees, all of which can strain budgets. Planning ahead and budgeting for these costs is essential. Families should seek out local resources that may offer assistance, such as community programs or school supply drives, which can help alleviate some of these financial pressures. Engaging with other military families can also provide valuable insights into managing school-related expenses.

Challenge: Calculate the expenses related to transitioning your children to a new school. Budget for school supplies, uniforms, and registration fees. Seek out local resources that may offer assistance.

7. Miscellaneous Costs
Finally, miscellaneous costs can arise during a move, including insurance updates and potential legal fees related to lease agreements or property sales. Keeping a running list of all expected and unexpected expenses is crucial for staying on track financially. By anticipating these miscellaneous costs, families can create a more comprehensive budget that accounts for the realities of moving. Proactively managing the financial aspects of relocation will ultimately help military families navigate this challenging process with greater ease and confidence.

Challenge: Identify any additional costs that may arise during your move. Keep a running list of all expected and unexpected expenses. This will help you stay on track and adjust your budget as necessary.

My experience as an Alpha Xi Delta Sister has left an indelible mark on my heart, reminding me of the power of connection and the importance of uplifting one another. This financial challenge is designed to empower military families by promoting financial literacy and preparedness during the often overwhelming process of relocation. By being aware of the various expenses and planning accordingly, military families can mitigate financial stress, embrace new opportunities, and focus on settling into their new environments. Together, we can build a supportive community that fosters resilience, connection, and financial wellbeing.