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Thread: Financial Stuff

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    #1

    Confused Financial Stuff

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    Howdy! I was hoping someone (or multiple someone's) could give me some insight into the financial situation of the average Navy/Military family. My husband would go in as an E-3. I know there is a base pay and benefits for housing, clothing, and food, but when I do the math, it seems like we wouldn't be able to afford food, gas, or prescriptions/healthcare! We only have one car payment (about $300/month...we'd probably sell his car, but would still have a payment because it's worth a lot less than the loan's payoff is currently), have about $300 in student loans per month between the two of us (more when I finally get my Bachelor's at the end of this year), and other regular bills (cell phone, cable/internet, one credit card that has debt, etc.). I am on some expensive meds (about $600-$800 out of pocket/mo. cost right now) that would have a really high co-pay...and the whole Tricare thing is so confusing to me.

    We are paying our mortgage right now but will be trying to sell our house, which we will most likely take a hit on (DH lost his job and we just can't afford our house anymore). It seems like it'd be impossible to survive, even if I got a part time job (I'm planning on working on grad school for the next few years). Even if I consider a cheaper apartment, I can't see how we could even begin to make it work!

    I'd really appreciate anyone's advice/thoughts/help...the financial side of things seems more overwhelming than the emotional side of things right now!
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    #2
    i think with tricare they can fill most prescriptions, but you may have to do the mail order pharmacy to get the meds filled if the base pharmacy doesn't have the meds. With Prime most of your health needs and issues will be covered, but if you qualify and Prime won't cover it, for an extra 20 to 30 a month, there is the ECHO program. We're presently using that for ABA therapy for our ODS, who is Autistic.
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    #3
    Your dh would receive base pay, special pay (if he becomes deployed, hazardous duty pay ect..there are a bunch of special pay options), bah (housing reimburement depending on his rank and the zip code you live in), medical and dental for him and his dependents for about $27 per mos. If you are tri-care prime that includes prescriptions. Also depending on his home state his pay might not have state taxes deducted.

    You certainly won't be fat catting it as an E-3 so you're right, you might have to work full or part time. Look up the pay charts to get a better idea of his basic pay and bah amounts.
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    the pay for an E3 is 1706 a month
    the average BAH rate is 1,000
    the BAS ( for members food) 323

    that is 3029 a month- before taxes.

    there are no medical premiums- it is free. there are co-pays with some medications if you cannot get them from a on base clinic. but there are ways to lower those co-pays.


    dental is 27 a month for the family plan

    yes it may be tight, but if are willing to work you will be ok.

    DH and I got married when he was an E4- I worked full time, our BAH was 1200 dollars ( which covered all our rent and untilities) - we did just fine.
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    #5
    Quote Originally Posted by Jayo View Post
    Your dh would receive base pay, special pay (if he becomes deployed, hazardous duty pay ect..there are a bunch of special pay options), bah (housing reimburement depending on his rank and the zip code you live in), medical and dental for him and his dependents for about $27 per mos. If you are tri-care prime that includes prescriptions. Also depending on his home state his pay might not have state taxes deducted.

    You certainly won't be fat catting it as an E-3 so you're right, you might have to work full or part time. Look up the pay charts to get a better idea of his basic pay and bah amounts.
    Quote Originally Posted by gunsgirl View Post
    the pay for an E3 is 1706 a month
    the average BAH rate is 1,000
    the BAS ( for members food) 323

    that is 3029 a month- before taxes.

    there are no medical premiums- it is free. there are co-pays with some medications if you cannot get them from a on base clinic. but there are ways to lower those co-pays.


    dental is 27 a month for the family plan

    yes it may be tight, but if are willing to work you will be ok.

    DH and I got married when he was an E4- I worked full time, our BAH was 1200 dollars ( which covered all our rent and untilities) - we did just fine.
    Actually it 31 and some change now.

    Dh and I married when he was e-3, I had one child, we had another soon after and we had no problems paying our bills.
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    We did just fine with 3 kids and me as a SAHM on e3 pay for a while. Clip coupons, share the car, etc. I had copay on a few prescriptions, out of pockets on things for DS, but Tricare covers nearly everything medical. If it's just the two of you, I'm thinking you will have no problem.
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    #7
    Quote Originally Posted by Southern-momma View Post
    Actually it 31 and some change now.

    Dh and I married when he was e-3, I had one child, we had another soon after and we had no problems paying our bills.
    Yup, it's $31.72 a month. ALso there is SGLI which is $27.00, AFRH which is 50 cents, SGLI Fam/Spouse is $13.00.

    (gosh haven't looked at DH's LES in over a year!)
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    #8
    DH is an E-2 and we are fine on his pay each month. And he has a good bit of debt we are paying off and a car ect. Plus he just had to buy a ton of stuff for his deployment Its just how you budget it and make it all work.
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    yep, we had two kids on an e-3 budget for a while, we made it just fine. You'll just have to budget, go down to one car, a be a very good shopper.
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    Thanks for everyone's replies!

    I'm pretty good with pinching pennies but we know our area of weakness is eating out. I guess the first half of the battle is knowing where to start, huh?

    I use coupons, buy generic, don't buy a lot of clothes, etc. and we would sell on of our cars, but it sounds like we could definitely make it work. We're trying to save up as much money now as possible. I definitely don't mind working (I would actually love it, being as I have no kids and it might get lonely) but I recently had foot surgery so I can't really work retail or something requiring me to stand on my feet for a while. That kind of worries me, honestly...but I guess I will cross that bridge when I come to it. I'm also planning on starting to sell some cards/jewelry I make on Etsy, which might help a tad (maybe $100/mo).

    Thanks for the support...it is so nice to have some place to go to for advice!

    One day at a time....one day at a time.

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