Maximize Military Benefits
If you've served in the active-duty armed forces, National Guard, or reserves in the last few years, you're entitled to significant financial opportunities, such as:
Help with educational costs. For those who've already gone to college, enlisting offers a break on student loans; once you get out of the service, you're eligible for future tuition assistance. Learn details at finaid.org/military and gibill2008.org.
Help buying a home. You might qualify for a no-down-payment mortgage guaranteed by the Veterans Administration. But be careful: With no down payment, you'll end up paying more interest, so unless you have a very specific reason to buy a home right away, you should wait to save up at least 10% of the selling price. If you've already bought a home but are struggling financially, lenders are not allowed to foreclose on your home for nine months after you return from duty. Learn more at operationhomefront.net.
Help with healthcare, insurance, retirement, and beyond. If you're currently in the military, you can get free healthcare for yourself and your family. You can also purchase home, auto, disability, and life insurance from special military-only companies (usaa.com, afi.org), and can participate in the Thrift Savings Program, which is essentially a 401(k) for civilian and military federal employees. For details go to tsp.gov and click the first button under "Uniformed Services."