Measure Your Progress

Whether you've gone through some or all of the modules in the Money Ready guide or just want to jump in and assess your current situation, you are taking the right steps toward improving your financial condition.

Once you understand what is involved in managing your finances, you are ready to apply your knowledge and review your progress over time.

Measure your progress now and take the financial readiness quiz. Click Here.

Measure Progress and Improve Your Financial Readiness
Measure Progress and Improve Your Financial Readiness
Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses
Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

Measure Your Progress

Whether you've gone through some or all of the modules in the Money Ready guide or just want to jump in and assess your current situation, you are taking the right steps toward improving your financial condition.

Once you understand what is involved in managing your finances, you are ready to apply your knowledge and review your progress over time.

Measure your progress now and take the financial readiness quiz. Click Here.

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses
Military Spouses - Financial Planning - Measure Progress

Measure Progress 401

Top Things to Do

 

Here are seven action items:

  1. Set financial goals.
  2. Create and follow a spending plan (budget).
  3. Create an emergency fund.
  4. Review insurance needs.
  5. Minimize or avoid credit card debt.
  6. Save and/or invest at least 10% to 15% of your gross pay.
  7. Seek professional advice from an attorney specializing in estate planning.

 

Review Your Financial Situation

 

Measure Progress - Military Spouse RetirementAnswer the following questions to get a sense of your current financial readiness. (Hint: Hopefully you are able to answer, “yes” more than, “no” or “I don’t know.”)

  • I know my short-term, intermediate-term and long-term financial goals.
  • I understand my financial resources. I have calculated my net worth.
  • I follow a spending plan for managing my income and expenses.
  • I target at least 10% to 15% of my gross pay for savings/investments each pay period.
  • I have an emergency fund with at least three to six months of my basic living expenses.
  • I use credit wisely. I pay my balances in full each month. I limit my open lines of credit.
  • I know my credit score and the information contained within my credit report.
  • I check my credit report at least annually for accuracy.
  • I understand my consumer rights and take steps to ensure my credit rating is accurate.
  • I am investing for retirement by contributing to tax-advantaged accounts.
  • I am familiar with the federal income tax advantages of IRAs and other plans.
  • I am familiar with my options for investing for education.
  • I am familiar with basic investing concepts.
  • I have purchased appropriate auto insurance coverage for my vehicles.
  • I have purchased renters insurance to protect my personal property — if you do not own a home.
  • I have insured my home for its complete replacement value — if you own a home.
  • I, and my spouse, have appropriate life insurance for our situation. Neither of our deaths would create a financial burden for our family.
  • I understand my TRICARE health coverage benefits.
  • I, and my spouse, have prepared and executed wills, powers of attorney, and letters of instruction as appropriate. We update them regularly to prevent court delays in the settlement of our estates and other important matters after our deaths.

 

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

MilLife Milestones

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

Watch

Measure Progress - Preparing Your Family for Deployment

Review Any Section

Measure Progress - Finances - Military Spouse Goal Setting

Financial Readiness

Financial Readiness Quiz - Measure Progress
Military Spouses - Financial Planning - Measure Progress

Measure Progress 401

Top Things to Do

 

Here are seven action items:

  1. Set financial goals.
  2. Create and follow a spending plan (budget).
  3. Create an emergency fund.
  4. Review insurance needs.
  5. Minimize or avoid credit card debt.
  6. Save and/or invest at least 10% to 15% of your gross pay.
  7. Seek professional advice from an attorney specializing in estate planning.

 

Review Your Financial Situation

 

Measure Progress - Military Spouse RetirementAnswer the following questions to get a sense of your current financial readiness. (Hint: Hopefully you are able to answer, “yes” more than, “no” or “I don’t know.”)

  • I know my short-term, intermediate-term and long-term financial goals.
  • I understand my financial resources. I have calculated my net worth.
  • I follow a spending plan for managing my income and expenses.
  • I target at least 10% to 15% of my gross pay for savings/investments each pay period.
  • I have an emergency fund with at least three to six months of my basic living expenses.
  • I use credit wisely. I pay my balances in full each month. I limit my open lines of credit.
  • I know my credit score and the information contained within my credit report.
  • I check my credit report at least annually for accuracy.
  • I understand my consumer rights and take steps to ensure my credit rating is accurate.
  • I am investing for retirement by contributing to tax-advantaged accounts.
  • I am familiar with the federal income tax advantages of IRAs and other plans.
  • I am familiar with my options for investing for education.
  • I am familiar with basic investing concepts.
  • I have purchased appropriate auto insurance coverage for my vehicles.
  • I have purchased renters insurance to protect my personal property — if you do not own a home.
  • I have insured my home for its complete replacement value — if you own a home.
  • I, and my spouse, have appropriate life insurance for our situation. Neither of our deaths would create a financial burden for our family.
  • I understand my TRICARE health coverage benefits.
  • I, and my spouse, have prepared and executed wills, powers of attorney, and letters of instruction as appropriate. We update them regularly to prevent court delays in the settlement of our estates and other important matters after our deaths.

 

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

MilLife Milestones

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

Watch

Measure Progress - Preparing Your Family for Deployment

Review Any Section

Measure Progress - Finances - Military Spouse Goal Setting

Financial Readiness

Financial Readiness Quiz - Measure Progress
Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

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Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses