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10 Easy Ways to Stretch Your Military Paycheck With No More Living Paycheck to Paycheck

Updated: Oct 4, 2019


10 Easy Ways to Stretch Your Military Paycheck No More Paycheck to Paycheck

“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.”

T.T. Munger


It does not matter if you are in the military or not. It does not matter what your rank or position is. It does not matter what your pay scale is. It does not matter if you are the single earner or married. If you are just getting by from paycheck to paycheck, or after your paycheck taxes you feel depressed. Then, what matters the most is how you control your money, not how it controls you. Learn to master money, don’t be a slave to money. Stop living paycheck to paycheck.


So, let’s look at how we can stretch your military pay, even if you’re not in the military. Spending wisely is the key to saving. Making the money is one thing, but how you spend it is even BIGGER. How much do you have left over at the end of the pay period is what matters the most and what you save all depends on how YOU Spend Money?


Let us look at 10 easy ways to stretch the money you make, even if you make a lot. I know that when you look at the military pay you get each month after taxes, you can sometimes fell overwhelmed and the military pay scale never seems to add up, but never give up. Think about this. A rich man was once asked by a passenger who recognized him on a flight to New York, “why are you flying in coach and not in business class, you’re rich?” The rich man said, “that is why I am rich, because I don’t waste my money. I look to keep as much as I can and paying for a business class ticket on a 2-hour flight is a waste of my money.” If you think about it, he was stretching his money by taking the coach seat and not the business class seat. Easy, right?


10 Easy Ways to Stretch Your Military Paycheck


Have a Budget: Learn how to manage your money by first setting a budget and sticking to it, baring emergencies of course, but make sure their real emergencies and not that I forgot I needed my hair cut last week. Start with a 90/10 split, 90% for what you need and 10% for saving, then decrease the 90% by 5% every few pay periods until you have at least three to six months’ worth of expenses saved up. Then, you can investigate safely investing your savings. Easy, well, only when you decide to start making it easy!


The Electric Bill: Investigate where you live and which is cheaper, gas or electric?

Take street and outdoor lighting off the grid with solar lights. Replace old high energy consuming appliances with newer energy efficient appliances. Easy savings!


Used versus New: Yes, there is advantages to buying new as in appliances, but do you really need a brand-new car, or will a slightly older model car be better? Buying a good certified older car will save you from making a five or six hundred dollar or more a month car payment, to making a two to three hundred payment. Too easy, I know!


Bulk Shopping: Look for opportunities to buy items in bulk. No, I am not talking about buying 300 cans of canned corn that you’ll never eat. Look for wholesale outlets, or even investigate joining the nearest Sam’s Club to buy your everyday staples in larger quantities, say 6 cans of corn at a lower price versus 1 can at a higher price. Go in with your friends and split items you all can use; thus, you all save money. Easy come for sure!


Clearance Sales: Everyone loves a clearance sale. I learned this many years ago with my mother. She would always buy things at the clearance sales and she would always save a lot versus the normal store price. Talk about stretching a dollar, buying new at 80% off is a no brainer. However, don’t get the wondering eye syndrome when you get there. The store knows that once you get there, that they will have all the new season items right there in your face and then, you’ll get something. So, keep your eye on the prize and stick to the clearance racks, not the new spring fashion racks. Easy, let me see, yes if it’s me, I am not so sure for some others!


Eating in: With the average cost of an evening meal in a restaurant starting at about ten dollars and up, cook in more, eat out less. Cooking at home saves over eating out every time. Cut back from two to four times a week to only once a week. If you are married, make it a date night, or a family night. Not paying restaurant prices, saves money. Easy Peasy! Yes?


Coffee Shops: Cut out the expensive coffee every day or cut it back to once or twice a week and you’ll save a lot of money. Kick the Starbucks habit at two to five dollars a cup, that adds up very quickly. For a 5-day week, that could be as high as $25 or more a week depending on where you live and which coffee you like. Make a cup at home and take it with you. Instead of stopping off for a cup, make your own to go cup. It’s too easy, right?


Make a List: If you need to go the supermarket, or your buying school supplies, or your going to the mall. Make a list of what you really need, and then stick to it. Get what’s on the list and then head to the counter to pay, because when you linger, you start looking and then wham, bam, they got you ma’am….You bought it, you got something that you may not really need, but you say to yourself, “well, it was on sale.” Easy, or not? I’ll let you decide!


Member Rewards: Many stores and shops offer rewards programs. Check the ones out in your area and join them. Generally, their free to join, so why not? Rewards programs are a great way to get something a little cheaper and for many programs like coffee shops, you buy 10 and then you get one free, but make sure it is not a high cost coffee shop. Doing this can save you almost daily. Too easy, yes?


Shop Around: No, not the song, but, investigate before you buy something major or big like an appliance, a lawn mower or even a car. Shop around. Investigate the product to see what the best features for you are. Check more than just one or two providers. Use the internet and see if buying online is the best route or going to an actual brick and mortar store is better. Do they offer free shipping or not? What about the deliver charges, who pays? All of this can either cost you more or let you save. Easy? Well, you will have do the work here to save. So, easy? Yes or No?


That’s 10 folks. If you follow these 10 easy ways to stretch your military paycheck and others that we will write about in the future, then you will be going a long way to doing what we said at the start of this post “Spending wisely is the key to saving.” Stop living paycheck to paycheck. So, best of luck to you and let us know how well these tips are working for you. Stay tuned onto www.militaryshoutout.com for more money saving and money making tips to come, and always remember, SAVING, EASY, YES….!!!


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