Military
Advice For
Reservists and Their Families
By Associate Press
By Associate Press
March 4, 2003 NASHVILLE
Families that face a military call-up need to take extra care to make sure they
don't wind up in debt.
Currently, 176,553 of the nation's reservists are now on active duty, but if war with Iraq is declared, the Pentagon plans to activate as many as 265,000 of America's
so-called weekend warriors. Families across the country must prepare.
Once the reservist is on active duty, they receive roughly the same pay and benefits
as active members of the armed forces. For many Americans that means a hit to their
wallet. There can be a big difference between civilian and military pay. If spending
patterns aren't changed, many families who are getting along okay now could find
themselves hurting financially.
For families with a high-earning executive, the loss of income could force a spouse
back to work. There are many families that can be defined as `house poor' - living
beyond their means. If someone who could be earning a six-figure income gets called
up, the situation could force more drastic changes in spending.
Someone who is overextended
will have some very real and tough decisions to make.
All members of the National Guard and the Reserves are volunteers. They are typically
activated to cope with disasters, riots and other emergencies and to replace active
troops reassigned to combat. Many reservists probably join
never expecting to fight,
but they know they can be mobilized at any time.
As emotionally wrenching as leaving loved ones behind is, some practical considerations
still need to be faced: Being fiscally equipped is a big part of overall Family
Readiness. There are unexpected exercises, schools, training, and other temporary
assignments that may not only change your military
pay, but may interfere with your
civilian employment pay. Being mobilized can also present unique financial challenges.
