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BUSINESS Thursday 20 June 2019
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Millennial Money: 5 money tactics for military deployments

By COURTNEY JESPERSEN during each deployment
NerdWallet and earn up to 10% interest
Associated Press annually. Interest continues
While serving in the U.S. to accrue for 90 days once
Marine Corps, Erik Goodge you've returned. Military fi-
was severely wounded nance offices can help set
during a deployment to up such accounts.
Afghanistan. After return- Another way to save mon-
ing home, the veteran be- ey ? Don't let increased
came passionate about income cause increased
finances as he navigated spending.
his post-military life and "An easy rule of thumb that
benefits. I've always told people is
At the time of his service, really try to keep your ex-
however, he didn't know penses to your pre-deploy-
nearly as much about ment levels," Goodge says.
personal finance. And he You may be able to de-
ventures many young de- crease your monthly
ployers don't know their fi- spending, according to
nancial options, either. Ashley Dixon, CFP, associ-
"It's not a priority on the ra- ate planner at Gen Y Plan-
dar of a lot of service mem- ning . If you have a spouse
bers," Goodge says. In this Dec 21, 2018 file photo, audience members join the Georgia National Guard's 48th Brigade or children, your family will
Combat Team to salute the colors during the Casing of Color and Departure Ceremony for their
Here are five important deployment to Afghanistan from Fort Stewart in Hinesville, Ga. likely spend less on neces-
money lessons all deployers Associated Press sities like food while you're
— and their dependents away, so put that money
— should know, as told by preparation, whether the fall behind. hardship duty pay, hazard- toward paying down debts
financial advisors and vet- military person is single or 2. MAXIMIZE SAVINGS ous duty pay, imminent more aggressively, she sug-
erans. married, is really important," Deployments usually danger pay . And that stuff gests.
1. PLAN BEFORE YOU LEAVE Ludwick says. equate to more income, generally is tax-free if it's 3. MANAGE EXPECTATIONS
While overseas or in a com- Ludwick, who retired from according to Goodge, overseas." Deployments will bring new
bat zone, service members the Air Force, says arrange- who is president of uVest To maximize this extra in- costs. Get on the same
don't have much time to ments should be made be- Advisory Group LLC in Indi- come, take advantage page with your spouse and
focus on finances, says Jim forehand. Consider giving ana. of savings options, such as dependents about every-
Ludwick, certified financial someone power of attor- "Sometimes, depending the Department of Defense thing from care packages
planner and founder of ney over your finances. Au- on where the deployment Savings Deposit Program, to international cellphone
MainStreet Financial Plan- tomate payments such as is, there's extra incentive Goodge recommends. usage, advises Lacey Lang-
ning Inc. your car insurance or mort- pay that comes along with Members of the uniformed ford, an accredited finan-
"Money really should take gage before you leave that deployment," Goodge services who are serving in cial counselor and Air Force
a backseat at that point, and ask that person to says. "There's family separa- eligible combat zones can veteran. Ask questions so
and so the pre-deployment monitor them so you don't tion pay. There could be deposit a total of $10,000 you don't overbuy.q

Stock trading is muted as investors wait for Fed statement

By DAMIAN J. TROISE Cardinal Health rose 1.4%. market that has been vola-
NEW YORK (AP) — U.S. Software maker Adobe tile because of concerns
stocks moved sideways in rose 3.3% on solid profit re- over the lingering trade dis-
early trading Wednesday sults and did most of the pute and its potential im-
on Wall Street ahead of a heavy lifting for technology pact on economic growth.
highly anticipated Federal companies, though the The market has rallied in
Reserve statement on inter- sector was wobbling over- the past and then dipped
est rates. all between small gains again because of seem-
The muted trading follows and losses. Hewlett Pack- ingly good news on trade
two days of gains that are ard rose 1.1%. talks that did not result in
driving a June rebound in Communications stocks any concrete progress.
stocks after a dismal sell-off and companies that rely KEEPING SCORE: The S&P
in May. The broad S&P 500 on consumer spending led 500 index rose 0.1% as of
index is within striking range the laggards. Facebook fell 10:05 a.m. Eastern time. The
of its all-time high, set on 1.5% as it faces Congressio- Dow Jones Industrial Aver- In this June 11, 2019, file photo trader Timothy Nick, left, and
April 30. nal criticism over its crypto- age rose 57 points, or 0.2%, specialist Dilip Patel work on the floor of the New York Stock
Financial companies, in- currency plans. Nike fell 1% to 26,518. The Nasdaq com- Exchange.
cluding banks, led the early and Sysco fell 1.8%. posite was unchanged. Associated Press
gainers as bond yields rose. Stocks opened the week FED FOCUS: Investors are
The higher yields allow higher and rallied on Tues- waiting for a highly antici- but it has already signaled as early as July.
banks to charge higher in- day after President Don- pated statement from the that it is prepared to take The Fed's statement comes
terest rates on loans. Wells ald Trump said he plans to Federal Reserve this after- that action in order to help a day after the head of
Fargo rose 1.2% and U.S. meet with China's president noon that could help give stabilize the U.S. economy the European Central Bank
Bancorp rose 1%. at the end of the month to more direction on the fu- if trade disputes cut into said it was ready to cut in-
Drug developer Allergan discuss their ongoing trade ture of interest rates. growth. Investors are bet- terest rates and provide
rose 3.5% and helped push war. The announcement The central bank isn't ex- ting on at least one interest additional economic stimu-
gains for health care stocks. injected some hope into a pected to cut rates today, rate cut this year, possibly lus if necessary.q