Military Money Magazine Shows Families How Saving for College, Budgeting for Baby are 'Kid Stuff!'

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Special Summer 2008 Issue Points Military Parents to Path Toward Effective Money Management While Their Children Grow

As the price of college continues to rise, parents wonder how – or even if – they are going to pay for their children’s higher education. But despite frequent moves and limited pay, it’s a feasible task for forward-thinking military parents, according to the special Summer 2008 issue of Military Money® magazine.

It’s tough for any family to raise a child today, and military families face an additional set of unique challenges: building wealth on a military salary, dealing with deployment and long periods of single-parent guidance, and a host of lifestyle issues that civilian friends and relatives don’t quite understand. But from saving for college to budgeting for a new baby to teaching tots sound financial habits, this family-focused issue shows military parents that effective money management while their children grow can prove as easy as “kid stuff.”

  • The cover feature, “Save Smart for College,” explores the ways – some of them specifically targeted to military families – to send a child off to college without saddling him or her with a mountain of debt afterward. Author Karen Von Der Bruegge asserts that literally thousands of scholarships are available exclusively for military families. “Untapped scholarship and grant dollars are waiting to be grabbed by those willing to do the research,” Von Der Bruegge says. “With the rising costs of college tuition, every dollar counts.”
  • A new bundle of joy can cost a bundle of money, but proper planning and budgeting can help parents maintain financial security as their family grows. From diaper dilemmas to child care challenges, “Budgeting for Baby” examines the smart steps parents should take to get their finances in order and enable them to concentrate on raising their children.
  • Young adults are faced with far more financial choices and gain access to credit at a much earlier age than their parents. “It’s Never Too Early to Teach Money Skills” shows parents how to smooth this rocky road by teaching personal finance from a young age, when children are forming the habits they will use throughout their lives.

Military Money is a personal finance and lifestyle magazine geared towards families of military service members. Published by InCharge® Education Foundation, Inc., it is distributed four times per year, free of charge, through many U.S.-based military bases, commissaries and family centers, as well as inside the European-based Stars & Stripes newspaper. The magazine addresses such personal finance issues as money management, home and family life for military families, career advice, deployment and relocation and transitioning to the civilian world.

Among other family-friendly topics highlighted in the Summer 2008 issue of Military Money:

  • You may not get rich serving in the military, but a military family can live very comfortably by taking advantage of “Ten Ways to Stretch Your Military Paycheck;”
  • Project work can provide many military spouses with the flexibility to successfully balance their career interests with child care and other family needs;
  • The top provision in the Department of Defense’s new “Families First” program – full replacement value coverage for personal property shipments – is now in effect.

The publication of Military Money is made possible through the generous financial support of a number of prominent public- and private-sector organizations including the FINRA (Financial Industry Regulatory Authority) Investor Education Foundation, which leads a multi-faceted education campaign for U.S. military members and their families.

First launched in 2003, Military Money magazine is part of the Department of Defense's "Financial Readiness Campaign," and distributed with the support of the Office of the Under Secretary of Defense for Personnel and Readiness. The Military Money web site, http://www.militarymoney.com, complements the magazine with additional content, calculators, surveys and other interactive tools.

For more information on corporate, government and nonprofit sponsorships, please contact Ed Koziol, Manager of Publication Partnerships for InCharge Education Foundation, at 407-532-5616.

Headquartered in Orlando, Florida, InCharge® Institute of America, Inc., is a 501(c)(3) nonprofit organization with affiliates specializing in personal finance education and credit counseling. InCharge® Education Foundation, Inc., publishes Military Money® magazine and offers financial literacy education to clients and the general public. InCharge® Debt Solutions provides professional credit counseling and financial education services to consumers and is a member of the Association of Independent Consumer Credit Counseling Agencies (AICCCA). Consumers can access InCharge Debt Solutions credit counseling services for free by calling 1-888-360-9694 or online at http://www.incharge.org.

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