As prices for gas and groceries continue to rise, many military families are feeling the crunch. The Office of Financial Readiness offers the following tips for budgeting during uncertain times:
• Stay calm-When it comes to finances, it’s easy to become overwhelmed and let stress spiral out of control. Avoid making financial decisions or purchases out of fear. Instead, focus on using the information you have to take the next best step financially.
• Update your spending plan: If you are feeling uncertain about rising costs, it’s best to adopt a conservative spending plan. Do you best to eliminate unnecessary expenses and budget for essentials like food, shelter, utilities, and transportation.
• Use resources available to you, such as the Office of Financial Readiness and programs within the Wisconsin Service Member Support Division.
To learn more, visit https://finred.usalearning.gov/Money/BudgetingUncertainTimes, or call the Service Member Support Division at 1-800-292-9464, option 1.