Military Pay and your Leave and Earnings Statement (LES)

National Guard Family Program
Soldier with child riding piggyback Introduction to Personal Finance

An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.

 

Introduction

Evaluating Your Situation

Budgeting & Debt Management

Goals & Plans

Insurance & Disability Planning

Investment Planning

Education Planning

Retirement Planning

Estate Planning

 

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EVALUATING YOUR CURRENT SITUATION

 

1.

Getting Started

 

1.1

Determine Your Net Worth

1.2

Determine Your Net Income

1.3

Military Pay and Your Leave and Earnings Statement (LES)

1.4

Veterans Eligibility and Benefits

1.5

Basic Allowance for Housing (BAH)

1.6

Clothing Allowance

1.7

Learning Check

 

1.3 Military Pay and your Leave and Earnings Statement

(LES)

Size Up Your Financial Situation

Your net worth and net income include assets and benefits that can

be determined based on your salary and other benefits – this information

allows you to determine your current financial situation.

All military personnel are paid based upon their rank and length of

time in service.

Be Careful: Deployment income may be more than you are accustomed to

receiving – don’t make debt that you can’t handle after

the deployment is over. For many others, your income will be reduced

if you are deployed – all the more reason for good financial planning

and emergency savings.

Download Document Right-click on the hyperlink and choose “save target as…”

to download all current

military pay information for active duty and inactive duty (drill

pay) for all ranks.

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