Consumer Watch: App helps military families budget, plan for future

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by Andy Treinen

WHAS11.com

Posted on September 18, 2012 at 5:06 PM

(WHAS11) -- Having a spouse or family member deployed overseas can be stressful enough without worrying about finances. But a new app aims to keep military families on budget and planning for the future, no matter where they are stationed next.
 
Kentuckiana is a military community, and with military personel at Fort Knox, Fort Campbell, Camp Atterbury and the Air National Guard this is a must have app for their financial security. Let’s face it, there are certain money matters that can be more complicated for military families than average households. 

“When a service member deploys, certain incentive pays kick in. When they come home, those incentive pays go away, so they're dealing basically with a decrease in their spending power,” said BBB Military Line Director Brenda Linnington. 
 
The free military and money app for iPhone was recently released by the Better Business Bureau and McGraw Hill. It features budgeting, debt reduction and savings tools plus military-specific tips on deployments, home buying and selling, debt issues and credit cards. Linnington of BBB's military line says it is not just helpful for families, but for young, single service members seeking advice too.
 
As waves of servicemen and women return home from Iraq and Afghanistan, the BBB suggests families keep one major piece of money advice in mind. 

“You may want to go out on a cruise, you may want to go buy a brand new car, or do something that's really big and great, because everybody's feeling good, but it's better to wait when emotions come down a little bit and you can lead with your head and not your heart,” said Linnington.
 
Right now the app is available for iPhone and iPad. An android version is in the works. 
 

 

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