Financial Planning for Military Families in Delaware
- Tessa MacDonald
- 5 days ago
- 6 min read

Life in the military comes with tremendous honor, dedication, and sacrifice. For service members and their families, it also brings unique financial challenges. With frequent relocations, deployments, and changes in income, managing money can feel like a juggling act. That’s where smart financial planning comes in—offering stability, security, and peace of mind to ensure a brighter future for service members and their loved ones.
At B.I.G. Investment Services, we understand the specific needs of military families and are here to help you navigate your financial journey with confidence.
Understanding the Financial Challenges of Military Families in Delaware
Military life comes with a set of financial hurdles that many civilian families don’t encounter. These challenges include:
Frequent Relocations
Moving every few years is a reality for military families. Each relocation can disrupt employment opportunities for spouses, complicate homeownership, and often result in unexpected costs, like moving expenses and setting up a new home.
Deployment-Related Expenses
When a family member is deployed, the expenses don’t stop—many increase. From travel costs to visit loved ones, to covering childcare and adjusting household routines, deployments often bring financial strain on top of emotional stress.
Variable Income
Military pay isn’t always straightforward. With special pay, allowances, and bonuses fluctuating over time, it can take extra effort to maintain a stable budget. That's why planning for these shifts is essential to avoid financial surprises.
Retirement Planning
Military retirement benefits are structured differently from traditional civilian plans. To make the most of them, families need to think long-term and develop a solid strategy to ensure financial stability after service.
Navigating these challenges isn’t easy, but understanding them is the first step toward building a strong financial foundation for your family.
Military-Specific Financial Planning Resources and Benefits in Delaware

Thankfully, there are incredible resources and benefits tailored just for you. These programs are here to help you plan for the future, protect your finances, and make the most of your hard-earned benefits.
1. Thrift Savings Plan (TSP)
Looking for a smart way to save for retirement? The Thrift Savings Plan (TSP) is one of the best options available to military personnel. Think of it as the military's version of a civilian 401(k), offering tax-deferred growth to help your money work harder for you.
And if you’re in the Blended Retirement System (BRS), you can also take advantage of matching contributions from the government—essentially free money for your retirement! Whether you're just starting out or thinking about long-term goals, the TSP is a game-changer.
2. Basic Allowance for Housing (BAH)
Housing is one of the biggest expenses for any family, but the Basic Allowance for Housing (BAH) reduces that burden for military families. This allowance helps cover the cost of housing, whether you live on base or in private housing.
Learning how to use your BAH strategically—whether for rent, mortgage payments, or savings—can make a big difference in your overall financial plan.
3. Servicemembers Civil Relief Act (SCRA)
The SCRA is there to safeguard your finances during active duty. This law offers valuable protections, like capped interest rates on loans, protection from eviction, and the ability to cancel leases without penalties if you're relocating. It’s designed to ease financial stress so you can focus on your service.
Make sure you understand your rights under the SCRA—you've earned these benefits.
4. Veterans Affairs (VA) Home Loans
Dreaming of owning your own home? The VA Home Loan program makes it easier than ever for military families to achieve homeownership. With no down payment required and competitive interest rates, this program removes many of the barriers that often stand in the way of buying a home.
And whether you're planning your forever home or looking for a place to settle temporarily, this is one of the most powerful tools available.
5. Financial Assistance Programs
Life happens, and sometimes unexpected expenses can catch you off guard. That’s where military-specific assistance programs come in.
Organizations like the Army Emergency Relief (AER), Navy-Marine Corps Relief Society (NMCRS), and Air Force Aid Society (AFAS) are here to provide emergency financial support when you need it most. Whether it’s help with rent, utilities, or unforeseen medical bills, these programs are a lifeline for military families facing tough times.
Retirement Planning Tips for Military Families in Delaware
Planning for retirement as a military family requires a strategic approach. Here are key steps to take:
Understand Your Retirement Benefits
If you’re part of the Blended Retirement System (BRS), make sure you’re contributing to your Thrift Savings Plan (TSP). Take full advantage of the government’s matching contributions—it’s essentially free money that can significantly boost your retirement savings over time.
Consider Additional Retirement Accounts
Don’t stop at your military retirement benefits. Opening a Roth IRA or traditional IRA can be a smart way to diversify and supplement your retirement income. These accounts can provide tax advantages and allow you to save even more for your future.
Plan for Post-Military Employment
A military career often opens doors to civilian opportunities. Many service members transition into new roles after their service, and these jobs frequently offer employer-sponsored retirement plans like 401(k)s. Be sure to also incorporate potential civilian benefits into your overall retirement strategy.
Explore Disability Benefits
If you’re a veteran with service-connected disabilities, you may be eligible for VA disability compensation. These benefits can serve as an additional income source in retirement. Don’t leave money on the table—check your eligibility and make the most of the support available to you.
Retirement may feel far away, but every step you take today can make a big difference in the years to come. Being proactive about your financial future will help secure a comfortable and fulfilling retirement for you and your family. You’ve served your country—now it’s time to plan for a well-deserved rest!
Managing Deployments and Financial Transitions in Delaware

Deployments and PCS (Permanent Change of Station) moves can bring not only emotional and logistical challenges but financial ones too. Staying ahead of these changes requires preparation and smart financial habits. Here’s how you can take control and stay ready for whatever comes your way:
1. Create a Deployment Budget
Deployments often come with changes to your income and expenses, so it’s crucial to map out a clear budget.
✔️ Start by listing your essential expenses, including bills, groceries, and any recurring costs. Don’t forget to account for deployment-related expenses like care packages or specialized gear.
✔️ Use deployment allowances or extra income to build up savings or invest in your future. This is a great time to grow your emergency fund or pay down debt.
2. Set Up Automatic Payments
While deployed, the last thing you want to worry about is missing a bill or falling behind on financial obligations. Automate payments for rent, utilities, credit cards, and any other recurring bills. This ensures peace of mind, so you can focus on your mission knowing your financial life is on autopilot.
3. Establish a Power of Attorney
You can’t always anticipate everything that might come up while you’re away, but having a trusted person ready to act on your behalf makes all the difference.
✔️ Designate a spouse, family member, or very close friend with financial power of attorney. They’ll be able to handle banking, bills, or unexpected financial issues for you in your absence.
✔️ Make sure they’re fully briefed on your financial situation and have access to the necessary information or accounts.
4. Plan for PCS Moves
PCS moves can feel overwhelming, but solid preparation can make the financial side of it much smoother.
✔️ Build an emergency fund specifically for moving expenses. Even with reimbursements, there are often unexpected costs to cover upfront.
✔️ Research the cost of living at your new duty station ahead of time. This will help you adjust your budget and avoid surprises, especially if housing, groceries, or transportation are more expensive.
✔️ Take advantage of any available military resources to help ease the transition, such as relocation assistance programs or financial planning services.
Planning ahead keeps you ready to face whatever’s next—both for your family and your financial future.
Financial Support and Resources for Military Families in Delaware
Delaware offers several programs to support military families in their financial planning efforts:
Delaware Veterans Trust Fund – Provides financial assistance for veterans and their families facing hardships.
Delaware Joining Forces (DJF) – A network of organizations that provide financial and career assistance to military families.
Military OneSource – A free resource offering financial counseling and planning for service members and their families.
State Tax Benefits – Delaware does not tax military pensions, making it a favorable place for military retirees.

Partner with B.I.G. Investment Services for Financial Planning in Delaware
At B.I.G. Investment Services, we’re honored to support military families in their financial journey. Whether it’s managing a PCS move, planning for retirement, or navigating VA loan benefits, we’re here to provide clear, actionable advice tailored to your challenges and goals.
Take the next step today. Contact B.I.G. Investment Services to schedule a consultation, and start securing your family’s financial future today. Together, we’ll build a plan that serves you now and for years to come.
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