Senior executive with Navy Federal Credit Union says now is the time to buy - We Are The Mighty
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Senior executive with Navy Federal Credit Union says now is the time to buy

In the midst of COVID-19, there is really good news for veteran and military home buyers: It is the perfect time to buy.

Kevin Parker is the Vice President of Field Mortgage Originations for Navy Federal Credit Union. Parker shared that now, more than ever, is the perfect time for veterans, service members and military families to buy. He explained that the market currently has great rates, no “junk” fees and experienced VA loan lenders ready to work for them.


Parker advises the new service member to do their research first though. “Talk to lenders early and become familiar with the company that funds them. Many who provide [originate] don’t service the loan. Navy Federal Credit Union services every one,” he said. Parker also shared that it is important to compare both the rates and the fees. He explained some lenders will even offer an estimate of fees before you apply, making it easier to understand the total costs associated with the home loan.

For many active duty military families, purchasing a home can be intimidating and even anxiety provoking. This can be attributed to the frequent moves associated with military life and the concern of being able to sell the home when it is time to PCS again. But Parker wants military families to be at ease when considering purchasing a home. “Historically, it is a good investment and can create investment power in terms of future income,” he explained.

He also suggested that military families work with Realty Plus through NFCU.

Realty plus is a program through NFCU that pairs you with a coordinator who then connects you to a real estate agent who is specifically trained to work with military families. This program also comes with a cash back offer if you close on your home with one of those agents.

Veterans or recently separated service members may have different ideas in mind for their home purchase. Many are looking at states which will be their retirement homestead. Parker suggests that they pay attention to the economy in general and seek areas with good value for their money.

Parker also said that finding an area with NFCU branches wouldn’t hurt either.

The NFCU website states that they aim to, “Be the most preferred and trusted financial institution serving the military and their families.” NFCU was Founded in 1933 and is the world’s largest credit union. When they opened their doors, they had seven members.

Now, they have over nine million members.

Membership is open to all Department of Defense, Coast Guard Active Duty, veterans, civilian and contractor personnel and their families. They pride themselves on their original charter being to the military community and for having over 40 years of experience in servicing loans. In fact, half of their loans are VA home loans.

Parker credits NFCU’s success to the company’s commitment to the culture of focusing on the families. The NFCU website also promises that, “Once a member, always a member. You can leave the military, change employers, move, retire, get married – yet always stay with Navy Federal. Your life is our mission.”

To learn more about Navy Federal Credit Union, click here. To see their current VA and Conventional Fixed Home Loan rates and decide if a mortgage with NFCU is right for you, click here.

Articles

Here’s how one drill sergeant rewrote the book on veteran employment

Senior executive with Navy Federal Credit Union says now is the time to buy
Dan Alarik, founder and CEO of Grunt Style, Army vet. (Photo: Daily Herald)


Turning conventional wisdom on its ear, one former Army Drill Sergeant has built a multi-million dollar apparel business by uniquely applying military operational techniques and culture.

During his time on active duty, Dan Alarik was deployed to Bosnia and Kosovo. Following his overseas duty, he served as a drill instructor at Fort Benning — a tour that changed his life in a very unorthodox way. Alarik pooled money with a few of his friends and they started to make t-shirts for the various units stationed there. In 2009 he had enough success that he decided to separate from the Army after 13 years and move back to his hometown of Chicago to start a t-shirt company.

Alarik’s vision for what he called “Grunt Style” was very clear. He wanted to bring the best parts of his Army experience — especially the elements of patriotism and service — to the rest of the nation.

Senior executive with Navy Federal Credit Union says now is the time to buy
Alarik on the Grunt Style factory floor with an employee holding up the 1,000,000 t-shirt the company has manufactured. The company has since surpassed the 2,000,000 mark. (Photo: Grunt Style)

As the company grew, Alarik took two bold steps: He moved the business out of his apartment and into an office space and he hired an employee — a fellow vet. From there growth was rapid. The company outgrew the office within five months and moved to a bigger space that they, in turn, outgrew five months after that.

But, as any entrepreneur knows, rapid growth can hobble a startup as much as the absence of it unless there’s a sound strategy behind it. And that’s where Alarik leveraged his military pedigree.

He modeled Grunt Style after the most effective military units he’d been part of during his time on active duty. The company is organized into two platoons: Maneuvers (marketing sales, and design) and Support By Fire (production and fulfillment).

And, more importantly in terms of being true to his business vision, Alarik has populated that military-themed organization with veterans. Seventy percent of his 100-plus employees are vets. (Also of note, manpower-wise, is that his wife, Elizabeth, is the chief financial officer.)

“I had my own challenges with fitting into office culture right out of the Army,” Alarik said. “From the beginning, one of my goals was to make Grunt Style feel familiar to vet employees. Not only do I love working with people who are patriotic and proud, there’s a strong business case behind that idea.”

Another military best practice that Alarik has put in place is pushing responsibility and authority to the lowest level possible. For instance, on the shop floor, “sew leaders” (the title given to front-line manufacturing personnel) work with very little oversight. He also instituted a “battle buddy” program for new hires that ensures the onboarding process is smooth and tackles any issues quickly.

“A paycheck is important, but for vets a job is more than that,” Alarik said. “They joined the military, for the most part, to be part of something bigger than themselves, something of consequence. That’s how we want them to feel about Grunt Style.”

“I knew when I met Dan that I wanted to be part of Grunt Style,” said Tim Jenson, COO and first sergeant. “It feels like ‘home’ working alongside people that get each other and work towards a common goal.”

Senior executive with Navy Federal Credit Union says now is the time to buy
Piles of printed t-shirts sit ready to enter the fulfillment stage. (Photo: Grunt Style)

The result of Alarik’s strategy is a $36 million business with a large facility complete with multiple warehouses for designing, printing, and packaging product. And every shirt comes with what the company calls a “beer guarantee.”

“What that means is if you’re not satisfied you can return a shirt for whatever reason — even if it’s soaked in beer — and we’ll give you a refund,” Alarik said.

And Alarik isn’t done yet. He recently launched “Alpha Outpost,” billed as “the best monthly subscription box for men.” Each month subscribers are mailed a box of interesting items around a specific theme. Previous themes have included “BBQ and Chill” (knives, grill gloves, spices, cookbook), “The Medic” (first aid equipment), and “The Gentlemen” (silk tie, flask, leaded glass).

Companies that struggle with hiring and retaining veterans can learn from Grunt Style’s approach. Alarik has found that the best way to get the most from veterans is not trying to force them into a corporate culture but rather to create a military-friendly environment where they can quickly assimilate and immediately make meaningful contributions to the company.

Check out Grunt Style’s special-edition We Are The Mighty t-shirts here.

And watch what happens when Grunt Style delivers a morale boost to the WATM offices:

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Articles

This fund helps the wounded and caregivers in ways the VA can’t

Senior executive with Navy Federal Credit Union says now is the time to buy
(Photo: azcaregiver.org)


Years of war have rendered Operation Iraqi Freedom (OIF) and Operation Enduring Freedom (OEF) service members with severe physical, mental and emotional scars that will likely impact them throughout their lives. The financial implications and consequences of these scars are well documented and can affect all aspects of their lives and lives of their family members to include housing, employment, and their financial well-being.

The PenFed Foundation’s Military Heroes Fund provides wounded veterans, military families, and caregivers with financial assistance and support that the Veterans Administration cannot offer due to budgetary and regulatory restrictions. These unmet needs are identified by VA advocates, National Guard case workers, the Army Wounded Warrior Program, and non-profit referral partners.

The Military Heroes Fund has two components:

  • Emergency financial assistance for OIF/OEF wounded warriors and their families facing short-term financial difficulties.
  • Family and Caregiver Transition Support
    • Child Care support provided for families of the wounded OIF/OEF families while receiving outpatient care at a VA medical facility, family visits, doctor visits, job-related.
    • Short term training or education expenses for job certification, licensure requirements and/or course materials such as course books technology fees, etc.
    • In-home health care for injured veteran to support caregiver respite needs.

The Military Heroes Fund gives grants to wounded veterans who:

  • Served in Operation Iraqi Freedom (OIF) or Operation Enduring Freedom (OEF)
  • Have been wounded, ill or injured during your OIF/OEF service
  • Have received an Honorable discharge
  • Are facing a financial emergency which is short-term
  • Can provide a DD214 and VA Disability Rating Certification or have one in progress
  • Can help us confirm your status by being referred by your Army Wounded Warrior advocate (AW2), Recovery Care coordinator (RCC), VA doctor or social worker, or another nonprofit advocacy organization

The Military Heroes Fund also gives grants to caregivers who:

  • Are a Family member and/or caregiver of an Operation Iraqi Freedom (OIF) or Operation Enduring Freedom (OEF) veteran
  • Can provide a DD214 and VA Disability Rating Certification for veteran, or have one in progress
  • Send copy of invoice or estimate for requested services from a licensed/certified individual, institution, or facility on official letterhead
  • Can help us confirm your status by being referred by your Army Wounded Warrior advocate (AW2), Recovery Care coordinator (RCC), VA doctor or social worker, or another nonprofit advocacy organization

The PenFed Foundation continuously examine potential grantees who meet all the above criteria. If you qualify, fill out and return the application form along with copies of your DD214, VA Disability Statement and the bill from the institution or creditor which you need assistance with. (From receipt of all documentation, it can take up to 10 days to process the grant. Grants are paid directly to the creditor.)

For more on the PenFed Foundation go here.

Articles

Filing for effect: some troops’ tax refunds may not come quickly

Many taxpayers plan their holiday shopping and other purchases around getting their tax refunds from the Internal Revenue Service at the earliest possible date.


Senior executive with Navy Federal Credit Union says now is the time to buy

In 2017, that may no longer be the case.

The Protecting Americans from Tax Hikes Act, signed into law in December 2015, requires the IRS to hold tax refunds for people claiming Earned Income Tax Credit and Additional Child Tax Credit until at least Feb. 15, 2017.

Also, new identity theft and refund fraud safeguards by both the IRS and individual states may mean some tax returns and refunds face additional review.

Beginning in 2017, the IRS must hold the entire refund — even the portion not associated with the EITC and ACTC. The IRS said the change helps ensure taxpayers get the refund they are owed by giving the agency more time to help detect and prevent fraud.

“This is an important change, as some of these taxpayers are used to getting an early refund,” said IRS Commissioner John Koskinen. “We want people to be aware of the change for their planning purposes during the holidays. We don’t want anyone caught by surprise if they get their refund a few weeks later than in previous years.”

As in past years, the IRS will begin accepting and processing tax returns once the filing season begins. All taxpayers should file as usual, and tax return preparers should submit returns as they normally do.

Although the IRS cannot issue refunds for some early filers until at least Feb. 15, it reminds taxpayers that most refunds will be issued within the normal timeframe: less than 21 days after being accepted for processing by the IRS.

The Where’s My Refund? tool on IRS.gov and the IRS2Go phone app remain the best way to check the status of a refund.

Humor

15 last-minute Valentine’s Day gift ideas from actual military spouses

Senior executive with Navy Federal Credit Union says now is the time to buy
Pfc. Harley Dennis, of Anderson, who serves with the Missouri National Guard’s 276th Engineer Company in Pierce City, assists Sgt. 1st Class Eric Corcoran to deliver more than 300 Valentine’s Day balloons to area school kids in the southwest Missouri town. (Photo by Staff Sgt. Dennis Chambers/Missouri National Guard)


In our house, Valentine’s Day isn’t really a thing. As a general rule, the Marine isn’t home for the “holiday,” and since there are a lot of holiday’s he spends away, courtesy of the USMC, this is one day we just don’t really concern ourselves with.

But this year we ran into a snag. Their names are Bethany, Zachary, and Christopher — also known as the three youngest members of the Foley Fire Team.

On the edge of the dreaded teenage years, Bethany came home a few days ago armed with a love note from her “boyfriend” (that asshole), and sat down with her younger brothers to plot out “The Best Valentine’s Gift Ever;” it apparently consists of a lot of bacon (they DO take after their mother, after-all), and a seven-hour nap time while they’re at school. Because adulting is hard.

They presented their plan to the Marine, and then waited with bated breath for him to tell them his grand scheme for the Day Of Love.

“I just bought Mom curtains and a new curtain rod. I suppose I could hang them up before she wakes up?”

The two youngest of the fire team promptly ran off to tattle on Daddy. Not buy Mom a “love” gift? He’s practically an abomination to them right now.

While the boys were relaying the horrifying ordeal to me, I wondered how the Marine was going to get out of this one. It’s perfectly fine to explain to the 12-year-old that sometimes Dad just doesn’t really subscribe to romantic things. As a girl she’s going to have to come to terms with the fact that dudes like him really do exist.

But try explaining that to two 8-and 9-year-old boys who are currently at the dining room table gluing pink and red hearts all over their camouflage Valentine boxes because they know that, while they like camo and guns, girls sometimes like hearts. How Daddy doesn’t understand this is totally beyond their capacity.

“Maybe Daddy is planning a surprise and he doesn’t want to ruin it,” I whispered conspiratorially. The boys nodded and agreed that that’s exactly what was happening. It was the only thing that made sense to them.

“You’re going to want to brain storm some last minute ideas, dude,” I told the Marine later.

“Can you do that crowd-sourcing thing you do on your Facebook and I’ll pick something from that?” he asked.

So that’s exactly what I did, and let me say, I was surprised. Not one girl said she wanted flowers, chocolate, jewelry, or even anything expensive or time consuming, and a lot of their gift suggestions included food.

In fact, because I know the Marine isn’t the only one out there who is finding himself in a gift pickle at the last minute, here’s what actual military spouses said they really want for Valentine’s Day, word for word and complete with all their annoying little emoji things:

1. Bacon roses

Because Valentine’s Day just screams “pork,” right?

2. Not celebrating Valentine’s Day at all.

Jeesh, more “romance” in our marriage/dating? We already have enough of that already…

3. Homemade vouchers for cool stuff

How about a movie night, a kiss and makeup session no matter how upset I am, free kisses anytime all day, etc.

4. Stay at home “date”

My husband is hitting up the USO tomorrow during lunch for flowers and cheap chocolate. ?. Yes he told me he wants to do that. He’s ridiculous. Lol. But in seriousness, even a nice walk or living room picnic on the floor. Super cheap, corny, and fun

5. Waffle House

Hands down. If you sneak them like $10, they’ll let you smuggle in wine sometimes (not that I’m speaking from experience or anything).

6. Beach stroll

This year we are going to take a few hours during the day to run to the beach and just put our toes in the sand before kids get home from school.

7. Mom time

Netflix movie, homemade desert, and pjs. 🙂

8. Cheap sushi

We went to Hamazushi last night because it’s very inexpensive (most items are ¥100 a plate), all you can eat, good quality sushi. Plus it’s all served on conveyor belts and ya can’t beat the novelty of that. 😉 Also, [He] started college again and has a lab tonight, so he won’t be home for “actual” Valentine’s date stuff.

9. A cuddle

After being apart—just being together is enough. I know that may sound cheesy, but it’s so the truth. Being preggo and sick, I’m hoping our date will include pj’s and our couch and the latest “this is us” episode.

10. Couch time

We spend all our budget on the kids. We will stay home with popcorn and a movie to celebrate it.

11. Old School necking

In the car…in the driveway!! ??

12. A load of beef … with love

I’ll make him his fave meal at home… meat loaf!

13. Learn something new

We are taking a couples cooking class tomorrow ❤️

14. A full-on pizza and bubbly extravaganza

[He] & I have done the same thing every year since we’ve been together: Heart-shaped homemade pizza (with mini heart pizzas for the puppies) + our favorite prosecco (the same brand from our wedding) and chocolate covered strawberries (sometimes homemade, sometimes from HEB)… and then turning on a cheesy movie or tv show on Netflix.

It started out the first year or two as our “thing” because we really couldn’t afford too much else. But now it’s a special, almost sacred ritual for us. I wouldn’t trade our little cozy tradition for a world-class meal. It’s just too important to me. I should clarify and say “every year he was actually HERE to celebrate.”

15. Some shootin’

Well, we got married Valentine’s day. We celebrate by hanging out and we go to dinner either the day before or the day after (since payday is always afterwards)because it’s always less crowded. This year is our 20th and we both took the day off. We’re having a range and lunch date. Since it’s a work day, lunch isn’t as crowded and definitely cheaper.

So what are you doing for Valentine’s Day?

And if the Marine is reading this, bacon roses are totally appropriate.

MIGHTY MONEY

Endless opportunity in the face of enormous loss

Retired Army Sergeant, Alicia Hanf, served six years before transitioning to civilian life. Bridging the gap seemed easy. Hanf began her civilian career working for a marketing agency in Baltimore. Soon, she was at the top of her game. Then, one day, in an instant, her whole life trajectory changed.

She received a call from her brother. “Mom’s dead,” was all he said.

Hear Alicia’s full story on Victory Capital’s website

In that moment, numb to the world and short of breath, she could hear her drill sergeant’s voice.

“Do you know what your last known point is?”

Last known point is a component of situational awareness. It is the ability to re-orient yourself with your surroundings and find the last recognizable place in your environment. Finding your last known point helps you plot your way back from being lost.

According to Hanf, “From there, you find your way.” For her, last known point is the veteran’s edge in navigating the business world.

When Hanf was transitioning out of the military, she was mentored by a group of women. They helped her with her resume. They aided her in her job search. Their coaching helped her successfully cross over into civilian life.

Hanf says she could not have gotten as far as she is today were it not for the veterans and business organizations that helped create opportunities for her.

“When I think of opportunity, I think of all the things my mom gave up for us to have a good life. For me, opportunity is endless, it’s abundant. It’s always available to us,” Hanf says optimistically. She adds that such opportunities are available to all transitioning service members.

Whether it is help starting a new business, growing an existing one, or connecting with networking groups, Hanf advises veterans to seek out and take advantage of the many resources available to them.

For entrepreneurs feeling lost and looking for a last known point, there are numerous resources available.

Here are just a few to start that journey:

1) Resources available to all small business owners

  • The U.S. Small Business Administration (SBA) has over 100 centers providing training and counseling services in a variety of topics to help Americans start, build, and grow their businesses.
  • Small Business Development Centers (SBDC) provide free business consulting and low-cost training. Topics include business plan writing, capital formation, and marketing, among others.

2) Resources available to women business owners

  • The SBA’s Office of Women’s Business Ownership sponsors a Women-Owned Small Businesses Federal Contracting Program to provide access to federal contracting opportunities.
  • International Association of Women (IAW) provides networking events, professional development opportunities, career and business development services, and promotional opportunities for women in all stages of business.

3) Resources available to Veteran business owners

  • The SBA’s Veteran Business Outreach Centers provide business training, counseling and mentoring to veterans in their local communities.
  • Veteran Entrepreneur Portal is a part of the VA’s Office of Small and Disadvantaged Business Utilization. It provides business education, financing opportunities, information, and links to government programs created specifically for veterans.

For more information and useful financial tools visit Victory Capital.

This article originally appeared on Victory Capital. Follow @VCMtweets on Twitter.

Articles

This is how much troops were paid in every major American war

Think it’s hard making it month to month in the barracks on just an E-1 pay? Well, the recruits who won America’s earlier wars had to make ends meet with much, much less to draw on. See how much troops made in each conflict, both in their own currency and adjusted for inflation:


Author’s note: The pay structure changed over time. From the Korean War to today, military pay has been relatively consistent across the services and the numbers listed in entries 8-11 reflect the financial realities of an E-1 enlisted servicemember. For earlier conflicts, pay was calculated using the salary of a first-year Army private or a junior infantryman.

1. Revolutionary War

Senior executive with Navy Federal Credit Union says now is the time to buy
Painting: Battle of Trenton by Charles McBarron

Privates in 1776 earned $6 a month plus a bounty at the end of their service. That pay would equate to $157.58 today, a pretty cheap deal for the poor Continental Congress. Unfortunately for soldiers, Congress couldn’t always make ends meet and so troops often went without their meager pay.

2. War of 1812

Senior executive with Navy Federal Credit Union says now is the time to buy
Andrew Jackson wins the Battle of New Orleans two weeks after the War of 1812 ended.

Pay started at $5 a month for privates but was raised to $8 at the end of 1812. This was in addition to bounties ranging from $31 and 160 acres of land to $124 and 320 acres of land.

That $8 translates to $136.28 in 2016. The bounties ranged from $528.10 to $2,112.40 for terms of five years to the duration of the war.

3. Mexican-American War

Senior executive with Navy Federal Credit Union says now is the time to buy
Storming of Monterey in September 1846 during the Mexican-American War. Image date: ca. March 2, 1847.

Young infantrymen in their first year of service during the Mexican-American War pocketed $7 per month, according to this Army history. That’s $210.10 in 2016 dollars.

4. Civil War

Senior executive with Navy Federal Credit Union says now is the time to buy
The Battle of Chickamauga raged from Sep. 19-20, 1863. Painting: Library of Congress

Union privates in 1863 brought home $13 a month which translates to $237.51 in modern dollars. Confederate privates had it a little worse at $11 a month. The Confederate situation got worse as the war went on since the Confederate States of America established their own currency and it saw rapid inflation as the war situation got worse and worse.

5. Spanish-American War

Senior executive with Navy Federal Credit Union says now is the time to buy
An undated photo shows soldiers manning a battle signal corps station during the Spanish-American War. Photo: Naval History and Heritage Command

While Army private pay in the Spanish-American War was still $13 like it had been in the Civil War, a period of deflation had strengthened the purchasing power of that monthly salary. In 2016 dollars, it would be worth $356.26.

6. World War I

Senior executive with Navy Federal Credit Union says now is the time to buy
Photo: National Archives and Records Administration

A private, private second class, or bugler in his first year of service in 1917 was entitled to $30 a month. In exchange for this salary, which would equate to $558.12 today, privates could expect to face the guns of the Germans and other Axis powers.

World War I was the first war where, in addition to their pay, soldiers could receive discounted life insurance as a benefit. The United States Government Life Insurance program was approved by Congress in 1917 and provided an alternative to commercial insurance which either did not pay out in deaths caused by war or charged extremely high premiums for the coverage.

7. World War II

Senior executive with Navy Federal Credit Union says now is the time to buy
Photo: US Army

In 1944, privates serving in World War II made $50 a month, or $676.51 in 2016 dollars. It seems like toppling three Fascist dictators would pay better than that, but what do we know.

8. Korean War

Senior executive with Navy Federal Credit Union says now is the time to buy
Dressed in parkas (Overcoat, parka type, with pile liner), Missouri infantrymen pose for a New Year greeting, 19th Infantry Regiment, Kumsong front, Korea, 14 December 1951.

The minimum payment for an E-1 in 1952 was $78 a month which would equate to $700.92 in 2016. Most soldiers actually deploying to Korea would have over four months in the Army and so would’ve received a pay bump to at least $83.20, about $747.64 today.

This was in addition to a foreign duty pay of $8 a month along with a small payment for rations when they weren’t provided.

9. Vietnam War

Senior executive with Navy Federal Credit Union says now is the time to buy
A U.S. Army soldier smokes after an all-night ambush patrol in Vietnam. Photo: Sgt. 1st Class Peter P. Ruplenas

E-1 wages were not increased between 1952 and 1958, so Korean War and Vietnam War troops made the same amount of money at the lower ranks — except inflation over the years drove the real value of the wages down. New soldiers pocketing $78 would have a salary that equates to 642.71 now, while those with over four months of service who pocketed $83.20 were receiving the equivalent of $685.56 in today’s dollars.

10. Persian Gulf War

Senior executive with Navy Federal Credit Union says now is the time to buy
Yeah, $1318.12 should cover patrolling through this. No problem. Photo: Public Domain

Grunts who went into Iraq to topple Saddam Hussein were paid the princely sum of $753.90 a month in basic pay, unless they somehow managed to make it to Iraq with less than four months of service. Then they received $697.20.

These amounts would translate in 2016 dollars to $1318.12 and $1,218.98 respectively.

11. War in Afghanistan and the Iraq War

Senior executive with Navy Federal Credit Union says now is the time to buy
Photo: Spc. Victor Egorov

Troops bringing the American flag back to Iraq in 2003 or deploying to Afghanistan in the same time period received just a little more than their Persian Gulf War predecessors, with $1064.70 for soldiers with less than four months of service and $1,150.80 for the seasoned veterans with four months or more under their belts.

In 2016 dollars, those salaries equate to $1377.93 and $1,489.36, a modest increase from the Persian Gulf War.

MIGHTY MONEY

What are allowances and why do you get them?

Next to base pay, allowances are the most important part in the breakdown of your paycheck. They are funds paid to the service member to provide for specific needs that are not directly provided for by the military – for example, clothing and housing — and they are generally not considered taxable income.


Senior executive with Navy Federal Credit Union says now is the time to buy

BAS:

Basic allowance for subsistence, or BAS, is intended to partly compensate the service member for the cost of food. These allowances are not intended to compensate the service member for the cost of feeding dependents.

Who: All service members, though service members utilizing the chow hall, deployed, or attending schools/training may not receive BAS as it is directly applied to chow halls or MREs (meals ready to eat).

How much: Officers rate $246.24 per month, enlisted personnel rate $357.55 per month.

BAH:

Basic allowance for housing, or BAH, like BAS, is intended to compensate the service member for the cost of housing.

Who: Service members who do not reside in military quarters or on-installation housing.

How much: BAH differs by duty station and rank. Additionally, there are several different types of BAH that impact the exact amount the service member receives.

BAH with dependents will be higher than BAH without dependents.

Partial BAH is paid to service members who live in government quarters without dependents.

BAH reserve component/transit (BAH RC/T) is for service members who fall within certain parameters that wouldn’t generally receive BAH (i.e. a reservist activated for less than 30 days or a service member stationed somewhere with no previous BAH rate set up, generally overseas).

BAH-differential (BAH-Diff) is authorized for service members who pay child support but don’t necessarily have a dependent living with them (this amount is determined by subtracting the amount of BAH without dependents from that of BAH with dependents).

BAH can be determined here.

Clothing:

There are several types of clothing allowances: initial, cash clothing replacement, extra clothing, and military clothing maintenance.

Initial:

Who: Officers and enlisted alike rate an initial clothing allowance.

How much: The allowance is directly applied to the bill when uniforms are issued.

Cash clothing replacement:

Who: Enlisted personnel yearly in the anniversary month of the service member’s enlistment.

How much: Varies by rank.

Extra clothing:

Who: Any service member in a situation where additional uniforms or specific civilian attire is necessary in order to perform duties (i.e. detachment commanders at an embassy require suits).

How much: For civilian attire, this amount ranges from $287.45 to $862.35 and depends on whether it’s the initial payment, and for how long the service member is going to be in the position.

Military clothing maintenance:

Who: All service members during and after 3 years of active duty.

How much: Varies.

Dislocation:

Dislocation Allowance, or DLA, is intended to partly reimburse service members for the cost of relocating due to orders or evacuation.

Who: All service members regardless of whether the member has dependents; except for National Guard members and reserve members who are reporting to or leaving active duty unless the member is activated for longer than 20 weeks at one location and is authorized to receive PCS allowances and have family members accompanying.

How much: Varies depending on rank and dependent status.

FSA:

Family separation allowance, or FSA, is paid to service members who have dependents and are given unaccompanied orders for more than 30 continuous days.

Who: All service members.

How much: $250 per month.

FSSA:

Family Subsistence Supplemental Allowance, or FSSA, is program designed to help military families contending with issues or demands that cannot be met by current military allowances.

Who: All service members who meet the criteria.

How much: Varies.

MIGHTY MONEY

Apple just announced a game-changing new credit card

At an event on March 25, 2019, at its Cupertino, California, headquarters, Apple announced the next stage in the evolution of Apple Pay: a rumored Apple rewards credit card.

The card, issued by Goldman Sachs called “Apple Card,” will offer cash rewards and various features and integrations with Apple’s Wallet and Apple Pay apps.

The card will earn “Daily Cash,” Apple’s version of cash back. Daily Cash is issued to the user’s Apple Pay Cash balance each day. From there, it can be spent on purchases using Apple Pay, applied as a credit toward the user’s Apple Card balance, or transferred to contacts through Apple’s peer payment feature in iMessage.


It was not immediately clear whether Daily Cash could be withdrawn to an external bank account, including Goldman Sachs accounts.

The card will earn 3% Daily Cash back on purchases made with Apple, 2% cash back on purchases made with Apple Pay, and 1% Daily Cash on purchases made with the physical card, or online without Apple Pay. It was not immediately clear if purchases made online through Apple Pay would qualify for the 2% back.

Senior executive with Navy Federal Credit Union says now is the time to buy

(Apple)

According to Apple Pay VP Jennifer Bailey, who presented at the event, the new card is “designed for iPhone.” People can apply directly on the iPhone, and start using the digital card immediately upon approval. Cardholders can update information and review transactions through iMessage as the card uses machine learning to recognize transactions.

iPhone users can view their balances and transactions within the Wallet app, including automated breakdowns of spending by category and merchant.

The card will have no annual fee, late payment, or foreign transaction fees. The Apple Card features in Wallet will show various payment options, and help users calculate “the interest cost on different payment amounts in real time,” according to a news release. The Card app will also offer automated suggestions to pay down any carried balances sooner.

The card has several built-in security features, including some that are native to Apple Pay, and offers various privacy features. While users will get a physical card to use at point-of-sale terminals that do not accept Apple Pay, it won’t have a printed number, expiration date, or security code. For online purchases, that information can be accessed in the Wallet app, with Touch or Face ID used to authenticate the user.

The card runs on MasterCard’s payment network and will be available summer 2019.

This article originally appeared on Business Insider. Follow @BusinessInsider on Twitter.

MIGHTY MONEY

5 GI Bill rates that will increase this year

The Department of Veterans Affairs has announced the Post-9/11 GI Bill rates for the 2019-2020 school year. These rates will be effective on Aug. 1, 2019. The Montgomery GI Bill and Dependents’ Education Assistance programs will see a rate change on Oct. 1, 2019.

By law, the GI Bill rate increase is tied to the average cost increase of undergraduate tuition in the U.S. For the 2019-2020 school year, that increase will average 3.4%.

More than 80 percent of those taking advantage of their GI Bill benefits are doing so through the Post-9/11 GI Bill.


Private & foreign school GI Bill rates

Effective Aug. 1, 2019, those using the Post-9/11 GI Bill at a private or foreign school will see their maximum yearly GI Bill rate increase from ,671.94 to ,476.79.

Flight training

Those who are enrolled in flight schools will see their annual maximum GI Bill benefit increase from ,526.81 to ,986.72.

Senior executive with Navy Federal Credit Union says now is the time to buy

An F-22 Raptor from the Hawaii Air National Guard’s 199th Fighter Squadron returns to a training mission after refueling March 27, 2012, over the Pacific Ocean near the Hawaiian Islands.

(U.S. Air Force photo by Tech. Sgt. Michael Holzworth)

Licensing/certification/national testing

You can be reimbursed up to ,000 per test for licensing and certification tests. For national testing programs, there is no maximum amount of GI Bill reimbursement. Your entitlement will be charged one month for every ,042.06 spent; currently, that trigger point is id=”listicle-2634152786″,974.91.

Correspondence courses

You can be reimbursed the actual net costs, not to exceed ,888.70 annually. That’s up from ,497.78 currently.

Monthly housing allowance

The Monthly Housing Allowance is also scheduled to change on Aug. 1, 2019.

If you are attending classroom sessions, your housing allowance is based on the ZIP code of the campus location where you attend the majority of your classes.

If you are attending classes at a foreign school, not on a military base, your maximum housing allowance will be id=”listicle-2634152786″,789.00. This is prorated based on the length of your active-duty service and how many classes you are taking.

If you attend all your classes online, your maximum housing allowance will be 4.50. This is also prorated.

Keep up with your education benefits

Whether you need a guide on how to use your GI Bill, want to take advantage of tuition assistance and scholarships, or get the lowdown on education benefits available for your family, Military.com can help. Sign up for a free Military.com membership to have education tips and benefits updates delivered directly to your inbox.

This article originally appeared on Military.com. Follow @militarydotcom on Twitter.

MIGHTY MONEY

4 tips for buying your first home on active duty

Buying your first home on active duty may be intimidating and the jargon can be confusing, but the good news is that others have walked this path and made it through — and you will, too. Active duty service members and veterans have a secret weapon that civilians do not possess: the VA Guaranteed Loan. While the VA will not issue the loan itself, the guaranty provides the veteran with the means to obtain a loan without a down payment or mortgage insurance premiums.


First thing’s first; one must obtain a Certificate of Eligibility to prove their entitlement as per the VA fact sheet. The lender can obtain this on the veteran’s behalf, or the veteran may do it themselves through eBenefits to get started. The process may seem daunting at times, but these tips should help you along.

Explore VA Home Loans

www.youtube.com

Estimate your monthly payment before you start looking at anything

A pre-approval letter determines your maximum loan amount, and is based on your credit and finances. This document may be requested from the loan officer or lender (bank) to calculate your monthly payments. You can estimate what your monthly payments will look like by using a mortgage calculator and the data contained in the pre-approval document.

Input your down payment (if any), maximum amount approved by the lender, and interest rate to have a realistic picture of what the payments are going to look like. Adjust the price of the home to determine an acceptable monthly mortgage for your situation.

Senior executive with Navy Federal Credit Union says now is the time to buy

Maintain some savings for unexpected expenses

As a new homeowner, we can guarantee that you’ll run into unexpected costs. To prepare for these, make sure you have some sort of savings cushion — even if you aren’t buying a house, you should have some savings tucked away, just in case.

When you take out a loan and buy a house, you’ll encounter all sorts of unexpected expenses, like paying a funding fee, paying for inspections, and covering closing costs. Sure, you can roll several of these fees into your loan, but that’s just going to add to debt that you’ll already spend decades paying off.

In general, you should save as much as you can, but you should have at least ,000 – ,000 in reserve. Worst case scenario? You don’t use it all and you’ve got some extra cash.

Senior executive with Navy Federal Credit Union says now is the time to buy

Find a realtor and lender with VA experience

If you’re diligent, you will find a realtor who is prior service and has walked a mile in your shoes. A lender like USAA (or other military-oriented lenders) can also offer a huge amount of help.

To find leads that will unite you with a realtor who understands your needs, reach out to your local military support group on Facebook for recommendations. A friendly inquiry can result in a list of individuals who have been recommended by your peers.

Senior executive with Navy Federal Credit Union says now is the time to buy

Keep your options open

After the preliminary paperwork is complete, you’ll be able to place an offer on a potential home. There are a few scenarios that can unfold here: the seller may accept your offer right away, decide to wait for another offer but not deny your offer, or send a counteroffer. It is absolutely essential to know that you may place offers on several homes at once.

However, once you have an offer accepted by a seller, you are obligated by contract (as per the purchase agreement) to not place new offers on other homes.

Articles

4 schools the GI Bill pays for other than traditional college

Everybody knows that the GI Bill is for college, but did you know you can use it for things other than a typical brick-and-mortar institution of higher learning? Here are four VA-approved ways you can use that benefit to better fit your goals in life.


*Note: While Veterans Affairs has confirmed that each of the schools listed here are approved institutions for using the GI Bill, you should always consult with your VA representative before making decisions regarding benefits.

1. Be the best bartender you can be!

While the GI Bill itself does not actually cover bartending school, try to find an accredited school with degree programs in culinary arts. If you can manage that, your course load will most likely include classes that involve various aspects of drinkology, an academic counselor at Culinary Institute of America told WATM.

The institute- which is best known as the CIA- is a VA-approved school.

2. Make Mary Jane your money making biotch

With the rise in the legalization of cannabis — both for medicinal and recreational purposes — across the country, professionals within the cannabis industry are going to be in high demand.

There are three different areas within the weed world to look at: chemists, horticulturist and dispensary managers.

Chemists and dispensary managers can be made through any traditional college route, but to be a cannabis grower, you can attend an horticulture school that offers degrees or certificates in horticulture.

Southeast Technical Institute offers an associate’s degree in horticulture and it is a VA-approved school.

3. Show everyone that you have the perfect face for radio

The Academy of Radio and Television Broadcasting offers an intensive course of study in radio and television broadcasting. Students at the Academy learn everything a normal college student learns in a four-year broadcasting degree- but in a much shorter time and without the requirement to invest in typical “core” classes. Core classes in math and science don’t typically translate into radio and television broadcasting, so the concept behind the school is to focus solely on broadcasting.

This cuts the typical four year program down to a mere seven months.

Tuition for the entire program is roughly $15,000.

4. Dive for buried treasure.

Well, be a commercial diver, anyway. The Divers Institute of Technology actually prefers veterans, and it is (and always has been) owned and operated by veterans.

The Divers Institute’s website claims, “you’ll get lots of hands-on, in-the-water training during your seven month program. We’ll teach you surface and underwater welding, cutting, and burning. You’ll learn diving physics and medicine, safety, rigging, salvage, hazmat, inland and offshore diving and more.”

The kicker? Some commercial divers like underwater welders can reportedly make upwards of $300,000 a year. Suit up. And make sure you aren’t barefoot.

The institute is a VA approved school.

For more information on exactly what the GI Bill will cover, check out the VA’s website.

Lists

10 gifts for the man in your life who’s operator AF


Senior executive with Navy Federal Credit Union says now is the time to buy

My Marine husband is the worst to shop for.

The worst, I tell you.

The man sees something he wants and he hauls off and buys it. It makes Christmas shopping extremely difficult.

So in an effort to put together a good Christmas list I asked him to consult with me on an article for WATM’s “10 gifts for the man in your life who’s operator AF.”

This is what he sent me:

1. Operator Stocking

This stocking is definitely operator AF.

Senior executive with Navy Federal Credit Union says now is the time to buy
High Speed Operator Stocking / Accessory Pouch

Specs:

  • Double Zipper Main Pocket
  • Santa Clause Approved & Compatible.
  • Modular Webbing for Pouch Attachment
  • 3x Polymer D-Rings
  • Integrated Drag / Carry Handle
  • 2x Hanging Hooks
  • External Small Pouch with Elastic Cord Closure
  • 3″x2″ Patch Panel
  • Made from High Durability Nylon Fabric

2. Hidden gun rack

No one will ever catch him by surprise as he’s flexing in this mirror.

Senior executive with Navy Federal Credit Union says now is the time to buy
N.J. Concealment Furniture surface mounted wall mirror

Specs:

  • 16″x52″x3.75″ inside 12″ x48″ 2 3/4″
  • Construction:
  • Solid hardwood with hardwood plywood back.
  • Includes:
  • 2 1/4″ Kaizen foam
  • mounting hardware
  • Includes magnetic lock and one magnetic key.

3. Plate carrier

…Because every operator should wear this every time he leaves the house.

Senior executive with Navy Federal Credit Union says now is the time to buy
Plate Carrier With Cummerbund Molle Style

Specs:

  • tab “panes”
  • External cummerbund that offers a more stable MOLLE platform
  • Cummerbund is fully adjustable and removable
  • Small/Medium has three rows of MOLLE webbing
  • Large/ X-Large has four rows of MOLLE webbing
  • Carrier is not releasable
  • Armor not provided

4. SureFire weapons light

…For seeing under the couch and shit.

Senior executive with Navy Federal Credit Union says now is the time to buy
Surefire X300U-A 600 Lumen LED WeaponLight Rail Lock

Specs:

  • Virtually indestructible LED regulated to maximize output and runtime
  • Tactical-level output with TIR lens for close- to longer-range applications
  • Quick-detach rail clamp
  • Accepts optional pistol grip and long gun forend switches
  • Weatherproof—O-ring and gasket sealed
  • Construction—High-strength aerospace aluminum with Mil-Spec anodizing; impact-resistant polymer; coated tempered window
  • Includes high-energy 123A batteries with 10-year shelf life

5. A sweet 1911 handgun

Because every SureFire needs a firearm attached (..and because this is MARSOC AF!).

Senior executive with Navy Federal Credit Union says now is the time to buy
M45A1 Close Quarter Battle Pistol

Specs:

  • M1070CQBP SPECIFICATIONS
  • CALIBER .45 ACP
  • WEIGHT 2.8lbs (1.27 kg)
  • CAPACITY 7+1 Wilson Magazine
  • OVERALL LENGTH 8.5in (21.59cm)
  • BARREL LENGTH 5in (12.7cm)
  • FIRING ACTION Single Action
  • FIRING SYSTEM Series 80

6. JetBoil stove

Because even operators need their coffee.

Senior executive with Navy Federal Credit Union says now is the time to buy
Jetboil Flash Cooking System

Specs:

  • Best Use Backpacking
  • Fuel Type Canister
  • Fuel Isobutane-propane
  • Auto Ignition Yes
  • Integrated Pot Yes
  • Burn Time (Max Flame) 100g canister: 42 minutes
  • Average Boil Time 4 min. 30 sec.
  • Dimensions 7.1 x 4.5 x 4.1 inches
  • Liquid Capacity (L) 1 liter
  • Liquid Capacity (fl. oz.) 33.8 fluid ounces
  • Weight 15.25 ounces

7. Kevlar helmet

Holidays are coming. So are the in-laws. Enough said.

Senior executive with Navy Federal Credit Union says now is the time to buy
3M Combat High Cut Helmet with Rails and NVG Shroud

Specs:

  • Meets or exceeds NIJ Level IIIA ballistic standard for penetration
  • Meets a minimum of 650 mps V-50 for 17 grain tested according to STANAG 2920
  • Shell sizes: S-XL
  • Variable thickness, 7 impact absorbing pads can be adjusted or removed for individual comfort
  • Pad thickness sizes: standard size 6 @ 3/4″ or optimal size 8 @ 1″
  • Weight: starting at 2.4 lbs (small)
  • Includes: Wilcox NVG mount and side accessory rails

8. Hammock

Sometimes an operator just needs to hang shit in the back yard and sleep there.

Senior executive with Navy Federal Credit Union says now is the time to buy
OneLink Sleep System – JungleNest

Specs:

  • JungleNest Hammock
  • Your Choice of Atlas or Helios Straps
  • Your Choice of Rain Tarp
  • Set of Carabiners Included
  • Set of Stakes Included

9. Combat boots

For stomping on all those battery operated toys his mother-in-law is going to send the kids this year.

Senior executive with Navy Federal Credit Union says now is the time to buy
Nike Special Field Men’s Boot

Specs:

  • Quick-drying synthetic leather overlays for durability and support
  • Multiple ventilation zones that allow the boot to breathe and drain quickly
  • Genuine leather footbed for durability, flexibility and comfort
  • Nike Free-inspired outsole, designed for traction and natural range of motion
  • Sticky rubber forefoot lugs for exceptional traction on all terrain
  • Weight: 15.9 ounces (men’s size 9)

10. Backpacking stove

For when the holidays get to be too much and he takes his SureFire, JungleNest and JetBoil out to the woods for a few days. He’ll need to cook.

Senior executive with Navy Federal Credit Union says now is the time to buy
MSR WhisperLite Universal Backpacking Stove

Specs:

  • Best Use Backpacking
  • Fuel Type Canister, Liquid
  • Fuel Auto, Isobutane-propane, White Gas, Kerosene
  • Burn Time (Max Flame) (20 oz.white gas) 1 hr. 50 min. / (8 oz. isobutane) 1 hr. 15 min.
  • Average Boil Time (White gas) 3 min. 30 sec. / (isobutane) 3 min. 45 sec.
  • Dimensions 6 x 6 x 4.75 inches
  • Weight (Stove, pump & canister mount) 13.7 ounces
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