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Home Logo: Military Compensation and Financial Readiness
Military Compensation and Financial Readiness
Military Compensation and Financial Readiness
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Personnel & Readiness Seal
MC&FR
Military Compensation and Financial Readiness
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  2. Financial Readiness

Financial Readiness

Building a secure foundation for your future.

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Financial readiness gives Service members and their families the confidence and stability they need to stay mission‑focused. This hub brings together the tools, education, and support programs that help you manage your money, plan for the future, and make informed financial decisions at every stage of military life.

FINANCIAL WELL-BEING ASSESSMENT

You go to the doctor to check on your physical health — but when is the last time you checked on your financial health? The Financial Well-Being Assessment can help you conduct a "checkup" on your financial health. No matter where you are in your military career, taking time to assess your financial well-being can provide insights into whether you’re on the right path or have some areas to improve. Answer just 12 simple questions to get your score, then review additional resources organized by topic. All of your answers are anonymous and the assessment does not track any data.

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PERSONAL FINANCIAL COUNSELING

All active-duty, National Guard and reserve service members, their family members and survivors are eligible to receive free financial counseling services to address the potential effects of financial decisions on personal and professional lives.

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TRANSITION ASSISTANCE

The War Department and the Department of Veterans Affairs offer an extensive array of services to help make your separation a success. If you’re an active-duty service member, National Guard and reserve component service member or service member’s spouse, you can take advantage of these transition assistance resources and more.

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CALCULATORS

Don’t guess — calculate. With the help of these financial calculators, get an accurate picture of how various decisions will affect your overall financial health. Whether you’re making an investment, buying a car or building your savings, knowing your numbers is the most powerful tool.

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CONSUMER CREDIT AND PROTECTIONS

As a military member, you have consumer credit protections available to you. Learn about those protections now, take advantage of regular credit monitoring and avoid high-interest credit cards and minimum monthly payments.

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THRIFT SAVINGS PLAN (TSP)

The Thrift Savings Plan (TSP) gives Service members a simple retirement strategy that makes saving money easier. Like the 401(k) plans offered by many private employers, the TSP saves a percentage of your pay through payroll deductions. Any contributions you make are yours to keep, whether you leave the military or stay in until retirement.

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YOUR LEAVE AND EARNING STATEMENT (LES)

Your LES contains detailed information about all elements of your pay and compensation. Review it monthly and when you have career or personal changes, such as a deployment, PC, or marriage, to confirm all information is correct. Track the start and projected end of any entitlements and allotments and your deductions.

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SECURITY CLEARANCE RESOURCES

All Service members undergo continuous vetting and must maintain a favorable security determination. The Security Clearance Toolkit explains how positive financial habits help you safeguard your clearance and stay mission‑ready.

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MILSPOUSE MONEY MISSION

MilSpouse Money Mission® is a War Department financial education website made for military spouses to empower them in leading their families to stronger financial futures.

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FLEXIBLE SPENDING ACCOUNTS (FSA)

Flexible Spending Accounts (FSAs) allow Service members to set aside pre-tax dollars to cover qualified health and dependent care expenses.

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HOME BUYING

Are you about to PCS and wondering if you should rent or buy? How do other military families decide? In the Home Buying Basics series, you’ll follow Service members and their families as they navigate the challenges of selecting their homes, as well as the steps they take to reach their goals. No matter the stage of your military career, you’ll learn useful tips on how to choose the right home.

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CAR BUYING

Buying a car is one big decision made up of a lot of smaller decisions. Gain confidence at each stage of the process by doing your research, understanding what you want and getting your finances in order.

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SPENDING PLAN WORKSHEET

Count on a bright financial future! Use our Spending Plan Worksheet to take charge of your spending by tracking, budgeting and planning ahead.

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MilTax

Military OneSource MilTax is a suite of free tax services provided by the Department of War (DoW). It includes tax prep and filing software tailored for military life and comes with personalized support from tax consultants trained in military-specific tax situations.

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MY RATING AS A MONEY MANAGER

Strengthen communication around personal finances so that you and your spouse can better understand one another and align your financial goals. Notice where your perspectives match, where they differ, and which areas may benefit from further conversation to support your shared financial goals.

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PERMANENT CHANGES OF STATION (PCS) WORKSHEETS

Planning a PCS move means building a clear spending plan. Your move type, family size, travel route, transportation method, and extra expenses all shape your total costs. Estimate your PCS finances now so you can stay prepared and make informed decisions.

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ESTATE PLANNING

It’s never too soon to start estate planning. Learn the facts so you can make sure you are prepared to take care of your loved ones now and in the future, even in the event of your absence. Talk with an accredited personal financial manager or counselor at your nearest Military and Family Support Center or use the resources you will find here to learn more.

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EDUCATION BENEFITS

Don't leave money on the table when it comes to paying for education! Explore the extensive resources available to you as service and family members. They include military tuition assistance, federal student aid, Department of Veterans Affairs education benefits, student loan interest relief and family member resources.

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PRE-ACCESSIONS: WHAT TO KNOW BEFORE YOU GO

Congratulations on your decision to join the military! Use this guide to help you make the best financial and military benefit decisions for your situation before leaving for basic training. Get information on banking and bill payments, life insurance and beneficiaries, education and retirement benefits, and more.

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INVESTING RESOURCES

Everyone has financial goals, whether it’s saving for a house, paying off debt, enjoying a comfortable retirement — or all of those and more. Find out how choosing investment opportunities that align with your current and future goals can help put them within reach.

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INSURANCE RESOURCES

Sometimes you need to spend money now to save money in the future. Purchasing insurance coverage, or enhancing your current coverage, can help protect you from financial distress should an unforeseen emergency occur. Learn more about the various types of insurance coverage available to you — like auto, home/renters, health, disability and more — and why it’s important to be prepared.

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MILITARY ONESOURCE FINANCIAL COUNSELING

Military OneSource provides confidential virtual financial counseling to active duty service members, National Guard and Reserve members, and their families. This service is designed to help you navigate the unique financial challenges faced by military families, including budgeting, debt management, and understanding military benefits.

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Learn about the three tax filing options for Service members and their spouses under the Servicemembers' Civil Relief Act (SCRA)
Provides an overview of the security clearance continuous vetting process.

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