The Military Money Manual Podcast

In this episode, Spencer Reese and Jamie answer 2 reader questions: Should you split your Thrift Savings Plan (TSP) contributions between the Roth TSP and Traditional TSP? Should I focus on contributing to my TSP or should I just rely on my military pension? While government TSP matching must deposit into your Traditional TSP, you can contribute all of your funds to the Roth TSP and you will still...

The  Marriott Bonvoy Brilliant ®  American Express ®  Card and the Hilton Honors American Express Aspire Card annual fee is waived for military servicemembers and military spouses. In this episode Spencer Reese and Jamie break down the differences between two of the best Amex hotel credit cards available: The Amex Bonvoy Brilliant and the Amex HIlton Honors Aspire Card. If you have a question you...

Jaspreet Chawla, Senior Vice President of Savings Products at Navy Federal Credit Union, joins Jamie and Spencer to talk about Certificate of Deposit or CD ladders, Money Market Savings Accounts (MMSA), and inflation fighting tips. If you have a question you would like us to answer on the podcast, please reach out on  instagram.com/militarymoneymanual  or email  podcast@militarymoneymanual.com . I...

Annie and Nicole from My First Nest Egg join Jamie and Spencer today to talk about how military families can use apps to help teach their kids the core financial concepts of spending less than you earn, compounding interest, and generously sharing your resources with those around you. Learn more at https://www.myfirstnestegg.com/ or in the Apple or Google store on your phone or tablet. Spencer off...

Jesse Mecham from the popular budgeting software You Need a Budget YNAB joins Spencer and Jamie today to talk about how pistol marksmanship is like personal finance, how many samauri swords Jesse would buy if he was stationed in Japan, and why you still need a spending plan if you make a $1,000,000 per year. You can sign up for a 34 day risk free trial at militarymoneymanual.com/ynab , no credit c...

Jeremy Schneider from Personal Finance Club joins Spencer Reese and Jamie to talk how to money like a millionaire, how to invest in index funds in 2023, and the difference between cheap and frugal. Jeremy helps over 400,000 followers on his Instagram account @personalfinanceclub and his website PersonalFinanceClub.com . He sold his first company for $5 million dollars and retired at the age of 36....

Spencer Reese from Military Money Manual and his co-host Jamie chat with their friend Paul, an Air Force officer and real estate investor. Paul has built up a small real estate empire in his 12+ years in the Air Force. He focused on long term rentals when he PCSs and short term rentals near military training bases, also known as military crash pads. Paul shares some of his tactics, techniques, hac...

Colleen Salchow of Salchow Coaching joins Spencer and Jamie to talk about how important it is to include military spouses in any family financial decisions. You can find Colleen on Instagram, email, and the web at: www.salchowcoaching.com colleen@salchowcoaching.com https://www.instagram.com/salchowcoaching/ Colleen works remotely over a year long program to help miltiary families maxizine their m...

Listener Will writes "Will Amex and Chase stop waiving my annual fees on my credit cards when I get out of the militay?" Spencer has a great article on annual fees on credit cards after you leave the military . The short answer is no, you will not be immediately charged annual fees on your credit cards when you separate or retire from the military. The longer answer is American Express takes a whi...

Jamie and Spencer recap Jamie's personal finance discussion with a group of 14 Air Force officers and Government Service civilians. Everyone agreed personal finance needs to be more discussed. Some themes mentioned were budgeting, TSP vs IRA, and investing. Jamie and Spencer point listeners where to find good financial resources for military service members. They explore how financial readiness sh...

In this Q&A episode, Jamie and Spencer answer listener Dustin's question from a Facebook message: "When you talk about savings rates, are you talking base pay only or do you include BAH and BAS in that percentage?" It's a nuanced question, but in general you should include all of your income when calculating your savings rate. But, the fact that you're even thinking about a complex topic like a sa...

Justin, an Air Force captain, reached out to ask: "How do you organize your savings accounts?" Some ideas co-hosts Jamie and Spencer discuss are using separate accounts, bucket accounts, a spreadsheet, or an app like You Need a Budget (YNAB). Automate as much as you can and make your financial life as simple or complex as you need to. Simple is usually the best option. Q&A or "Question and Answer"...

In this episode Jamie and Spencer discuss Military Lending Act (MLA) benefits for military spouses. Military spouses enjoy the exact same benefits active duty military servicemembers do on American Express, Chase, Citi, and US Bank credit cards: the annual fees are waived on all the premium cards. Spencer and Jamie break down the best credit cards for military spouses including: The Platinum Card...

Rob Shaye is a Coast Guard reservist, Certified Financial Planner (CFP), and military traveler. He's passionate about financial education and helping military servicemembers make the best decisions with their money. Learn more about Robert Shaye's company Fireside Finances on his website. In this wide ranging episode, co-hosts Jamie and Spencer talk with Rob about a variety of topics including: Th...

Jamie and Spencer attack how to budget your military paycheck. Ideas discussed on this episode include: Classic pen and paper budget Google Sheets and Excel spreadsheets Apps like Mint.com, You Need A Budget (YNAB), EveryDollar The Reverse Budget, or Anti-Budget (set a high savings rate and spend the rest) If you want to maximize your military paycheck, check out my 5 star rated book The Military...

Living paycheck to paycheck can be extremely stressful. It can negatively affect your mental, physical, spiritual, and financial health. Learn how to stop living paycheck to paycheck and to get out of the cycle of never having extra cash in your checking account. If you want to maximize your military paycheck, check out the 5 star rated book The Military Money Manual: A Practical Guide to Financia...

Morgan Housel's book the Psychology of Money is an excellent refresher of the core concepts of financial independence and personal finance. In this episode, Jamie and Spencer apply Housel's concepts of personal finance and investing to military life. The 3 main takeaways for today are: Save money for no reason at all. Play your own game. Better to be reasonable with a good enough plan, than ration...

Travelling in the military doesn't need to be painful! Know your Joint Travel Regulations (JTR) and benefits available to you. TSA PreCheck is free for military servicemembers. Military spouses can use the right credit card to get Global Entry and TSA PreCheck for free as well. With the right travel rewards cards, you can access airport lounges, upgrade your seat, upgrade your hotel room, and earn...

Jamie and Spencer talk about a few of their favorite things in this episode. Learn how to maximize your military paycheck in my new book  The Military Money Manual: A Practical Guide to Financial Freedom  available  directly from me on my website  or on  Amazon . The book has dozens of 5 star reviews on Amazon and Goodreads. It's available as a: Amazon Kindle  Ebook Amazon Prime  Hardcover Audible...

Learn how to maximize your military paycheck in my new book The Military Money Manual: A Practical Guide to Financial Freedom  available  directly from me on my website  or on  Amazon . The book has dozens of 5 star reviews on Amazon and Goodreads. It's available as a: Amazon Kindle  Ebook Amazon Prime  Hardcover Audible  Audiobook If you enjoyed the book, please leave a review on Amazon or Goodre...

Don't have a good asset allocation or investment strategy for when the stock market crashes? Learn how to self-invest your military paycheck in  my book The Military Money Manual: A Practical Guide to Financial Freedom . available  directly from me on my website  or on  Amazon . The book has dozens of 5 star reviews on Amazon and Goodreads: Amazon Kindle  Ebook Amazon Prime  Hardcover Audible  Aud...

To learn how to maximize your military paycheck, check out my book  The Military Money Manual: A Practical Guide to Financial Freedom . available  directly from me on my website  or on  Amazon . Dozens of 5 star reviews on Amazon and Goodreads: Amazon Kindle  Ebook Amazon Prime  Hardcover Audible  Audiobook Buying a car is usually the largest purchase of a young servicemember. Take some time to th...

Active duty, guard, reserves, and military veterans are all eligible for VA loans if certain conditions are met. I built the VA Loan Ultimate Guide to explain the confusing VA loan process. What is a VA loan ? How to determine if you are  eligible for a VA loan ? How to get a  VA loan Certificate of Eligibility ? What  credit score do you need for a VA loan ? What is the  VA loan process , from st...

To learn more about my LADS investment strategy and how to apply it to the TSP, check out my book  The Military Money Manual: A Practical Guide to Financial Freedom . available  directly from me on my website  or on  Amazon . Dozens of 5 star reviews on Amazon and Goodreads: Amazon Kindle  Ebook Amazon Prime  Hardcover Audible  Audiobook Changes are coming to the TSP! Learn all about the June 2022...

To learn more about my LADS investment strategy and how to apply it to the TSP, check out my book  The Military Money Manual: A Practical Guide to Financial Freedom . available  directly from me on my website  or on  Amazon . Dozens of 5 star reviews on Amazon and Goodreads: Amazon Kindle  Ebook Amazon Prime  Hardcover Audible  Audiobook In this episode Jamie and Spencer discuss several TSP invest...