NMCRS Budget Planner
NMCRS Budget Planner
NMCRS Budget Planner
Wise
Increased Financial Freedom
Is As Easy As:
MILITARY INCOME
MILITARY EARNINGS . . . . . . . . . . . . . . . . . . . . . . . PER MONTH
BasePay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Quarters Allowance* (BAH) . . . . . . . . . . . . . . . . . . . . . . .
Subsistence Allowance* (BAS) . . . . . . . . . . . . . . . . . . . . .
SeaISpecialPay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Overseas Allowances* . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other Pay and Allowances . . . . . . . . . . . . . . . . . . . . . . . . .
MISCELLANEOUS EXPENSE. It's more than you think, but some of it is necessary! Keep a
record, for a pay period, of what you spend on: barber, laundry, coffee mess, personal
care items, cigarettes, vending machines, beverages, hobbies, entertainment, meals out,
impulsive and compulsive spending. Be realistic; cut the excess, but don't cut the joy from
yourlife . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SPOUSE'S WORKING EXPENSES. Figure in the costs of such things as child care, extra
clothes, transportation and purchased meals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DEBTS. Unpaid debts for items such as credit cards, "big ticket" items, bank personal loans and vehicles mean
trouble if not kept current. Pay off higher interest rate debts first.
If you have a DEFICIT......................... Take corrective action TODAY! You do have choices and
can be in control if you:
INCREASE INCOME
O Are you receiving all your military entitlements?
O Are you claiming the right exemptions on your LES for withholding?
O Are any allotments about to expire?
O Is a promotion within your grasp?
O Consider these options:
Part-time employment
Turn a hobby into income
Swap talents and skills
DECREASE EXPENSES
O Use your military benefits, facilities and services
O Keep a log of miscellaneous spending to iden* and cut waste
O Separate needs from wants
O Use spare time to become a wise consumer
O Make changes when:
One category of spending is excessive
An activity becomes habit, not fun
Achieving a goal can be slower paced
REDUCE DEBT
O Make management of debt your first priority
O Use increases in income/decreases in expense to pay off a debt
O Compare interest rates and consider choices before taking on a debt
O Temporarily cut out some spending to concentrate on paying off a debt
O Don't take on new debt until old debt is paid
O Contact creditors if you cannot make payments; negotiate a siew repay plan if you are
willing to stick to it
When you are MONEY-WISE, you have choices and can be in control!
If you need more help in shaping your budget, visit Navy-Marine Corps Relief Society.
10/02 Ambertone Press