Are You Ready for Your Next PCS Move?
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Are You Ready for Your Next PCS Move?

August 24th, 2018 | 2 min. read

Frequent moves are a key feature of military life. Before you get your next PCS orders, make sure your finances can handle it.

If you or your spouse are in the military, you know all too well the chaos that can ensue after receiving PCS orders. While most people have some control over the timing and destination of a move, military families must plan and execute them in mere weeks or months. The often drastic transition from one place to the next can be stressful for the whole family. And in times like these, keeping up with your finances might just be the last thing on your mind. That’s why it’s important to make sure your finances are PCS-proof –before the orders arrive.

Know What Compensation You’ll Get

Since this is a mandated move, you’re entitled to moving assistance or compensation to offset the cost of doing it yourself. The amount of allowances you’re able to receive is dependent on your pay grade, where you’re going and how many dependents you have. You can also request an advance on your basic pay to help with costs that go above and beyond what the military will cover. Whatever benefits you decide to utilize, make sure you have an idea of what you can expect to receive ahead of time. That way, you’ll know what to expect when the orders come. 

Build Some PCS Savings

Let’s face it: PCS orders come fairly often. And whether you decide to utilize the military’s moving services or do it yourself, you’re likely going to pay something out of pocket. In fact, our research from 2017 indicated that, out of military families with PCS orders, 44 percent expected to spend over $1,000, with a fourth of this group expecting to spend an upwards of $2,500.Instead of letting these expenses get in the way of your goals, fund some savings specifically for PCS ahead of time, so you don’t have to worry about the consequences of unexpected expenses. 

Let us Know Where You’re Headed! 

Getting PCS orders marks a huge life transition, but that doesn’t mean it has to impact the way you handle your finances. With local First Command offices near most military bases, we’re able to continue helping you pursue your financial goals through a face-to-face relationship. Once you find out where you’re going next, let your Financial Advisor know; they’ll be able to connect you with the local office at your new location.

PCSing can be hard –make sure you’re ready. If you need some help planning for the move, give your financial advisor a call. We can take some of the burden off the financial preparation, so you can focus on the rest.

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