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Clark's Military Guide
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BEFORE YOU GO... 
        Get your finances and affairs in order with this checklist: 
               
Banking & Debt 
       
  • Lower the interest rates on your debt. The law requires lenders to cap interest rates on your outstanding loans at 6 percent, among other things. But you must notify your lenders of your military status. 
  • Consider setting up automatic bill pay at your bank so you can pay your bills and manage accounts remotely. And consider setting up overdraft protection if you and your spouse will be writing checks from different locations. 
                     
    Taxes 
  • Use free tax services such as the IRS Volunteer Income Tax Assistance Program, which offers free tax help at military bases. Also the IRS "Armed Forces Tax Guide", offers help preparing returns. Find it at irs.gov
  • Find out if you qualify for the Earned Income Tax Credit, which allows you to exclude non-taxable income such as combat pay when filing.  
                 
    Insurance 
  • Review your life insurance policy. Make sure it doesn't contain a "war clause," which means your company won't cover deaths from war or combat. Most active duty members receive $250,000 of coverage from the Servicemembers' Group Life Insurance Program. If you don't already know about it, find out more at insurance.va.gov.  
  • You may want to put your car in storage while you're gone. If you do, call your insurer and ask about becoming a "non-operator," which could lower your payments.  
                     
    Wills & Estate Planning 
  • Assign a power of attorney in your absence, and make sure you have a valid and updated will. You can revoke the power of attorney when you return, but it allows a relative or friend to handle financial decisions while you're gone. Find free information on estate planning and money management at usaaedfoundation.org
               
    WHILE YOU'RE GONE... 
    You are protected in ways you may not know about: 
                   
    Consumer Protection   
  • The Service Members' Civil Relief Act protects all active military families from foreclosures, evictions, and other financial consequences of military service. The Act also covers lapses in health and other insurance, default judgments in court cases, and limits on the amount of interest service men and women must pay. 
  • The new law allowing everyone to obtain one free credit report each year also allows military personnel to put "military fraud alerts" on their reports. Servicepeople must request them, but the alerts ensure that credit reporting companies are taking additional steps to verify a person'a identity when applying for credit. The idea is to protect deployed persons from becoming victims of ID theft. 
                   
    More resources 
  • Militaryonesource.com - DOD online and phone help 24 hours a day, 7 days a week - stateside and overseas. Call 1-800-342-9647 in the States or 1-800-3429-6477 overseas.  
  • military.com -Comprehensive site offering information on benefits for military as well as news and information 
                     
    IF YOU'RE FRIEND OR FAMILY... 
    Let military men and women know that they are rememered and missed: 
             
    Donations & gifts 
  • heromiles.org - Donate your frequent flier miles 
  • anyservicemember.navy.mil - Send an e-mail 
           
  • usometrodc.org - Donate to a care package 
  • cellphonesforsoldiers.com - Donate a cell phone 
                     
    Get involved 
  • clarkhoward.com - Join your State Defense Force        



  • Excerpts From Clark's Shows: Clark's Military Guide

    May 16, 2008 -- Protecting our soldiers on the battlefield of the marketplace
    It's no secret that Clark has a lot of respect for the men and women in our all-volunteer military. He's particularly touched when strangers at the airport spontaneously applaud personnel returning home from foreign theaters of war. Whether you agree or disagree with the Iraq situation, Clark thinks people learned have learned from the mistakes of Vietnam when people were awful to the returning soldiers.

    Kiplinger reports that six years into our latest Middle East foray, we still have companies that are not following laws designed to protect the military in the marketplace. For example, one cell phone company put a soldier into collections and ruined his credit while he was deployed overseas. The soldier should have been granted a military suspension. Similar situations have popped up with car leases, apartment leases and more.

    Clark has compiled a military manual to help get you financially prepped if you're enlisted. You can also check Military.com for further information.

    These rules are not meant to cheat private enterprise out of the money they're owed. Rather, these rules are designed to protect our brave volunteer military. If you're a company not following the law because of ignorance, here's your chance to learn about it. If you knowingly choose to ignore the law, shame on you.


    Nov 05, 2007 -- Join your state defense force!
    Clark frequently opens his show by telling listeners that his purpose is to be of service to them. But have you ever wondered how you can be of service to others? Clark is a big believer in joining our nation's homeland security effort by signing up for state guard service. These are voluntary military units under the service of the governor in 27 of the 50 states. Like many people, Clark had never heard of state guards before a guardsman told him about them in the wake of 9/11. Now he's been active in the Georgia State Defense Force for about six years and has become a captain. Prior military experience is usually not necessary.

    Different states operate their defense forces in different ways. Some train with the National Guard, while others don't. Some carry weapons and some don't. In case you're wondering, Clark doesn't carry a weapon! There's no pay for this work, but it really can enrich your life. Clark has been trained on search and rescue, medivac and community support in the event of a disaster. He had the privilege to serve his fellow citizens doing medivac during Hurricanes Katrina and Rita. Now he's just completed his annual training this past weekend and he's totally pumped about the experience. Volunteering for Georgia's State Defense Force is his way to stand up in an era when foreign enemies want to destroy us. Check out Clark's defense force guide for more information about state guards across the country.

    Oct 02, 2007 -- Military personnel protected from payday lenders
    There is an unpatriotic segment of the population that has been thriving by ripping off members of our military with usurious loans. Clark thinks it's disgusting that the soldiers who lay their lives on the line for our freedom are being taken advantage of by scum. This issue directly impacts our national security when military personnel can't deploy because they're burdened by mountains of debt and can't get security clearance. Some of these locust payday lenders have been stationing themselves outside of military posts and making loans with interest rates beginning at 390 percent! Many military recruits have fallen for this because they're young and not sophisticated in the ways of finance. Congress previously outlawed these sickening loan practices, but only now has the Pentagon formalized rules to protect the young men and women in our military. It is now a federal crime for a payday lender to rip off a soldier. The rules also extend to loans offered to the spouses of soldiers. Other provisions of the new rules ensure that soldiers will soon have access on their posts to financial advice 24/7 and extra low-cost loans.


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    This week's poll
    The high cost of jet fuel has a lot of people staying at home this summer instead of traveling. Is there a "staycation" in your immediate future?
    Yes, I just can't afford a plane ticket and/or hotel room right now.
    No, I've saved up all year just to get away for a bit.
    Maybe, I have to wait and see how my finances pan out.
    see previous polls


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