Personal Finance: My Military and Money App

posted by Stacie on October 2, 2014 // 0 Comments »

I was born and raised in a military home. We lived in many places before ending up in Atlanta. My mother was also raised in a military family as well. Travel and moving just seems to be in our blood.

I will always have a soft spot in my heart for those men and women who serve our country. Anyone who helps out the military and makes their lives easier is also a business that I can get behind.

DID YOU KNOW?

Military families are young (72% under 30, 85% under 35), marry at a younger age, and start their families sooner than their civilian counterparts?

70% of military families live outside of military installations and within surrounding civilian communities?

Military families receive a steady and timely paycheck? However they are financially inexperienced.

MCGRAW HILL FINANCIAL AND BBB MILITARY LINE PARTNERSHIP

In 2011, McGraw Hill Financial and BBB Military Line created a partnership in support of The White House’s Joining Forces Initiative, a national initiative to engage all sectors of society to give our service members and their families the opportunities and support they have earned. First Lady Michelle Obama and Dr. Jill Biden have met with military families, learned about their successes and challenges, and made it their priority to support them. Our military service members represent only 1 percent of our population, but they shoulder the responsibility of protecting our entire country.

That is why McGraw Hill Financial, a global leader in financial literacy and BBB Military Line, a grassroots community based military consumer education and advocacy program, together recognized the need to provide personal finance education, resources and tools to young military families, primarily Enlisted families.

Out of this partnership came the My Military & Money App. This app is designed to help military families learn how to manage money

MY MILITARY & MONEY APP

What does the App offer?

This app offers essential tools that help you create a credit card reduction plan, build a balanced budget and structure a savings plan. Along with an introductory training video, it also comes with tips and information on a range of financial situations faced by service members like retirement, deployment, and buying a house. It also comes with an reminder option that prompts you to revisit your financial plans each month.

How much does this App cost?

This App is FREE in both the iTunes store as well as the Google Play Store.

Is it easy to use?

Yes! This App also includes an introductory video training series that covers Making Credit Work for You, Digging Out of Debt, and Building a Better Budget.

Will the App link to my online banking documents and is the App secure?

Currently, linking up to your online bank isn’t an option but also isn’t necessary to fully utilize the program. You aren’t required to offer any personal information and instead, you can utilize the program as needed but imputing your own numbers for calculating.

Is this App available offline?

Wi-Fi is necessary to utilize this app but you can store information by emailing to yourself from the app so even when you’re not on Wi-Fi, you can access that information.

Can someone who doesn’t have a Smartphone use this on a desktop computer?

You can access many great tools, information, and blog posts on the website, www.mymilitary&money.org but you won’t be able to access all the apps features from the website.

Is the App exclusive to the military?

It is not exclusive to the military. While it does have many resources that military families can benefit from and relate to, everyone can use the calculator and money management tools.