Nearly 6% of American businesses are veteran owned, according to the 2020 Annual Business Survey, released in Oct. 2021. Some service members leave military service knowing they want to start a business but need some kind of funding, such as business loans or Small Business Administration grants. Others may not realize they want to start a business […]
2023 Basic Allowance for Housing (BAH) Rates
Military service members may receive a 4.2% Basic Allowance for Housing (BAH) rate increase in 2023, according to the draft 2023 defense budget. Proposed 2023 BAH increases are subject to change during the FY2023 defense budget legislative process. BAH covers 95% of housing expenses while service members pay the remaining 5% out of pocket. However, […]
Personal Loans for Military Members and Veterans
Veterans and current military members might consider applying for a personal loan for several reasons. The cost of permanent change of station moves is one. Those moving from low-cost to high-cost areas may need more money up front for security deposits, storage fees and other expenses. In these instances, they may want to know how […]
2023 Military Pay
United States military members will likely see their largest-ever pay increase in 2023 – a 4.6% hike, according to the Bureau of Labor Statistics’ Employment Cost Index (ECI) and the draft 2023 defense budget. The White House released its 2023 defense budget proposal in March, and so far congress has upheld the 4.6% bump. Basic […]
Military Spouse Act – Residency Relief (MSRRA)
The Military Spouse Residency Relief Act (MSRRA) of 2009 is the first of two amendments to the Servicemember Civil Relief Act (SCRA) that extend privileges and protections to service members’ spouses. Amendments under the Veterans Benefits and Transition Act of 2018 expanded those benefits. According to MilitaryOneSource, “MSSRA allows military spouses to maintain legal residence […]
