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Your Military Money

February 2025

Ways to Finance Your Teen’s Higher Education

It’s Financial Aid Awareness Month! If you have a teen, take time during February to learn about financial aid options for MilKids who want to attend college or technical school, or pursue an apprenticeship or career training program. There are many ways your family can fund that education, ranging from savings plans to grants and scholarships to low-interest loans. Start your research with this Military OneSource guide.

MilTax: Stress-Free and Cost-Free

Life is complicated — your taxes don’t have to be. Get personalized support from military tax experts and file for free with MilTax.

Tips to Boost Your Computer’s Performance

When did you last give your computer a digital detox? Take time to delete unused programs, disable startup programs you no longer need, and run disk cleanup and defragmenting software. Then, check out the Federal Trade Commission (FTC)’s tips on strengthening your computer’s security.

Understanding Your Auto Insurance Policy

Many of us pay our vehicle insurance premiums without really understanding what we’re paying for, what coverage we’re receiving or the difference between types of coverage (e.g., collision versus comprehensive). Take a few minutes to brush up on your vehicle insurance knowledge with this primer from MilSpouse Money Mission.

Did You Know?

The DoD is launching a new benefit for Service members and their families next month: the Health Care Flexible Spending Account (HCFSA). This optional benefit can be used to pay for a variety of medical, dental and vision expenses, including co-payments, deductibles, orthodontia, glasses and contact lenses, in addition to some drugstore items like over-the-counter medicine. HCFSAs will be offered to members of the uniformed services for the first time via a Special Enrollment Period occurring March 3-31, 2025. Read this to find out more and decide if an HCFSA is right for you.

Resources

• Military OneSource: Use military benefits to pay for college.

• FINRED: Here are some savvy ways to use your tax refund this year.

• Cybersecurity and Infrastructure Security Agency: Take 11 steps before connecting your new computer to the internet.

• FSAFEDS: Save up to 30% on medical expenses with an HCFSA .

ABOUT US

Your Military Money is an official communication from the United States Government, brought to you each month by the Department of Defense Office of Financial Readiness. FINRED oversees DoD-wide financial literacy programs and education, enabling Service members and families to strengthen their personal financial well-being.