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Your Military Money
April 2023
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April is here and it’s the Month of the Military Child! This is a time to honor and recognize the sacrifices made by military families like yours, especially the more than 1.6 million military children who face many challenges and unique experiences as a result of their parents’ service.
In this month’s eNewsletter, we’re highlighting new DoD initiatives (new benefits for service members!) that will continue to strengthen support for our military community. We offer a final reminder about the tax filing deadline and call attention to other resources available to military families in support of your financial well-being.
This month, and all year long, we’re proud to create content that supports your family from the oldest to youngest member.
See you next month,
Your Financial Well-Being Team
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Taking Care of Service Members
The Secretary of Defense announced six new initiatives to support the military community. These initiatives include the rollout of Dependent Care Flexible Spending Accounts (DCFSA) that will allow service members to contribute up to $5,000 of pretax income to annual eligible dependent care expenses such as preschool, child or adult day care and summer camp. Read the full memo to see how your family may benefit.
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Know Your SGLI Options
While you serve, protect your loved ones from unexpected financial worries with SGLI coverage. Learn more about this valuable service member benefit in this fact sheet.
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Curious About Cryptocurrency?
How you choose to invest your money is an important decision. If you’re interested in cryptocurrency and just getting started, this article serves as a useful primer about this digital asset and can help you think through what you may want to consider before purchasing.
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Save Your Money and File Free With MilTax
It’s the final countdown to Tax Day, and MilTax is on standby. With easy e-filing software and personalized tax assistance, MilTax is designed specifically for military life. Don’t let the due date become the “do date.” Finish filing by April 18 or file an extension to avoid penalties and interest.
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Your Annual Credit Check Is Free and Won’t Impact Your Score
Your financial reputation impacts everything from your ability to make a major purchase to the interest rate you pay on a loan. By checking your credit, you ensure your information is accurate and safe from scammers. Learn how to receive a free annual credit report and credit score (and about how they’re different).
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ABOUT US
The Office of Financial Readiness oversees Department of Defense-wide financial literacy programs and education to enable service members and families to strengthen their personal financial well-being.
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