Charleston Chapter – MOAA Charleston Chapter – MOAA
Charleston Chapter – MOAA Charleston Chapter – MOAA
Charleston Chapter – MOAA


Recent News:
(Published in last 30 days)


Charleston Chapter – MOAA
Date Posted:07/10/18
This Story Expires on: 08/31/18
Congress, DoD Step Toward Expanding Access to Commissaries, Exchanges

Date Posted:07/10/18
This Story Expires on: 09/30/18
UGA’s School of Law opens free legal clinic for veterans

Date Posted:07/10/18
This Story Expires on: 08/31/18
New Report Offers Military Spouse Career Ideas

Date Posted:06/22/18
This Story Expires on: 08/31/18
Most Tricare Fees Could Change Again in January

Date Posted:06/21/18
This Story Expires on: 08/31/18
Take Our Survey: Share Your Opinion on TRICARE and Military Health Care

Date Posted:06/20/18
This Story Expires on: 09/30/18
8 Free Business Resources Every Military Spouse Entrepreneur Needs

Date Posted:06/17/18
This Story Expires on: 10/01/18
Should You Get The New Veteran ID Card?

Date Posted:06/17/18
This Story Expires on: 10/01/18
‘I proudly served my country’: Advocates unveil new Veteran’s Creed

Date Posted:06/07/18
This Story Expires on: 12/31/18
Make Big Financial Decisions With Your Spouse Not Alone

Date Posted:06/07/18
This Story Expires on: 09/30/18
VA Video Connects Doctors and Vets

Date Posted:06/06/18
This Story Expires on: 07/31/18
Commissary to Keep Shelves Stocked

Date Posted:06/06/18
This Story Expires on: 08/31/18
TRICARE Rules on Prior Authorizations

Date Posted:06/06/18
This Story Expires on: 08/31/18
TRICARE Explains Pricing Changes

Date Posted:06/06/18
This Story Expires on: 10/31/18
Board of Veterans Appeals

Date Posted:06/06/18
This Story Expires on: 09/30/18
Vision Coverage Coming

Date Posted:06/06/18
This Story Expires on: 08/31/18
New Presidential Order: Give More Federal Jobs to Spouses

Date Posted:06/06/18
This Story Expires on: 09/30/18
Shanahan Advances Plan to Merge Commissary, Exchange Systems

Date Posted:06/06/18
This Story Expires on: 10/31/18
28 Valuable Free Resources For Veterans Re Entering The Workforce

Date Posted:05/31/18
This Story Expires on: 09/30/18
A Financial Checklist for Traveling Overseas

Date Posted:05/31/18
This Story Expires on: 12/31/18
Share Financial Information with Your Spouse Now to Avoid Problems Later

Date Posted:05/29/18
This Story Expires on: 08/31/18
TRICARE's Preventive Health Programs for Women

Date Posted:05/29/18
This Story Expires on: 07/31/18
Voting Absentee: Study Targets Challenges Troops Face

Date Posted:05/29/18
This Story Expires on: 08/31/18
Congress Expands VA Caregiver Plan, Streamlines Non VA Care

Date Posted:05/29/18
This Story Expires on: 09/30/18
Navy Increases Amount of Tuition Assistance

Date Posted:05/29/18
This Story Expires on: 08/31/18
New Program Provides Free Pilot Training for Veterans

Date Posted:05/29/18
This Story Expires on: 08/31/18
Air Force Could Recall as Many as 1,000 Retirees to Active Duty

Date Posted:05/22/18
This Story Expires on: 09/15/18
Free Museums for Military Families for 9th Year Running

Date Posted:05/22/18
This Story Expires on: 09/15/18
Get This Military Kids Park Date On Your Calendar Now

Date Posted:05/22/18
This Story Expires on: 09/15/18
Federal Or Private Student Loans What's The Difference?

Date Posted:05/22/18
This Story Expires on: 09/30/18
Understanding TRICARE Providers

Date Posted:05/05/18
This Story Expires on: 08/31/18
5 Things Military Renters Don't Know

Date Posted:05/05/18
This Story Expires on: 09/30/19
Take the VA's New RAMP to a Faster Appeal Decision

Date Posted:05/05/18
This Story Expires on: 08/15/18
Many Medically Discharged Vets Missing Out on Rating Upgrade

Date Posted:05/05/18
This Story Expires on: 08/31/18
Life Changes Can Impact Your TRICARE Options

Date Posted:05/03/18
This Story Expires on: 07/31/18
VA Opens ID Card Program to USPHS, NOAA Veterans

Date Posted:05/03/18
This Story Expires on: 08/31/18
New Military Electronic Healthcare Records Program Still on Track

Date Posted:05/03/18
This Story Expires on: 08/31/18
They Claim They Sent Tricare Warning Letters, But I Never Got Them

Date Posted:03/27/18
This Story Expires on: 07/31/18
One Chart Shows How Military Health Care Costs Compare to Civilians’ Fees

Date Posted:12/04/17
This Story Expires on: 09/30/18
5 Ways to Help Your Military Child Deal With a Move

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Share Financial Information with Your Spouse Now to Avoid Problems Later
Posted on: 05/31/18
This Story Expires on: 12/31/18


It’s common for couples to share their financial lives but not the responsibility for managing household finances. It might be time-consuming for both of you to review your bills, as well as spending and savings plans each month. But if responsibilities unexpectedly shift due to a sudden illness or loss of a spouse, getting up to speed quickly could be challenging for the person least familiar with handling the family finances. Without the help of the person who has always handled the money, the one left in charge will face major headaches. 

Grab your partner now and get started sharing your family financial picture to better prepare for the future. 

We have six questions you and your spouse can answer together. The questions will help you figure out how prepared each of you is to handle family finances.

1. Do you know your family’s bank, credit union, and other account numbers and how to access those accounts? Include any safe deposit box, retirement accounts, pensions, etc. 

2. Do you know about all property and investments your family owns? Do you know whether you and your spouse are co or joint accountholders, and the names of beneficiaries? 

3. Do you know what money is coming in to your household? Including where it’s deposited? For example, where paychecks are deposited?

4. Do you know what payments your household is making? Think about: 

  • Mortgage or rent
  • Auto loan payments
  • Utility bills
  • Credit cards
  • Student loan payments
  • Cell phone
  • Property taxes
  • Insurance
  • And more!

5. Do you know when bills are due and how they are typically paid? Are they paid online, by automatic debits, by mail, etc.?

6. Do you and your spouse have a will, powers of attorney, and similar legal documents? Do you know where they are? Are they current?

Once you’re aware of the gaps in your or your spouse’s knowledge, you can work together to get on the same page. 

Get started in a few steps

  • Schedule time for you and your spouse to go over your financial picture. Start by taking an inventory of your family finances: income, expenses, debt, and investments, if any. It’s good to get in the habit of sharing this every so often as your financial picture changes or so it stays fresh in your mind. 
  • Maintain a list of account information and store it in a secure location. Make sure you both have access to online accounts. Create a list that includes account numbers, usernames, security questions, and passwords. There are many options available for securely saving the list digitally or printing it and storing it in a locked fireproof box. Remember to tell your spouse how to access the file and update it when necessary.
  • Have a plan. Make sure to plan for what will happen and who will manage your finances if one or both of you become ill or die unexpectedly. Consider creating a durable power of attorney so you will have someone in place to pay your bills or make financial decisions if you can no longer do it on your own 

 

Losing your spouse is challenging on its own, and that stress multiplies if you find you are in the dark about your family finances. It’s worth taking time now to make sure you both will be equally prepared for the future. Download a printer-friendly version of this information  to share with friends or clients.

Consumer Financial Protection Bureau.



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