Military Deployment Financial Checklist: Everything to Handle Before You Leave

Table of Contents

• Deployment as a Financial Opportunity
• Legal and Administrative Essentials
• Protect Your Existing Debt (SCRA)
• Automate Your Bills and Banking
• Review Your Insurance Coverage
• Maximize Your TSP During Deployment
• The Savings Deposit Program (SDP)
• Fund Your Roth IRA with Tax-Free Pay
• Pause or Cancel Unused Services
• Tax Considerations Before You Deploy
• If You Have a Family: Additional Steps
• Quick Reference Checklist
• Frequently Asked Questions

Deployment as a Financial Opportunity

Most service members experience their first deployment as a financial disruption — suddenly managing accounts from a different time zone, worrying about bills back home, and trying to figure out what to do with a paycheck that has nowhere to spend itself. That’s the wrong frame entirely.

Deployment, handled correctly, is the single greatest financial acceleration event in a military career. Your expenses drop dramatically. Your pay may become entirely tax-free. You gain access to the Savings Deposit Program — a government-guaranteed 10% return that doesn’t exist anywhere else in the civilian financial world. Your TSP contribution limit jumps from $24,500 to $72,000. And every dollar you put into a Roth IRA from tax-free combat pay benefits from a triple tax advantage no civilian investor can replicate.

But capturing these opportunities requires preparation before you leave. The financial window opens on deployment day — and closes when you come home. This checklist walks through everything to handle in the weeks before you deploy, organized by priority.

Legal and Administrative Essentials

These aren’t optional. Get them done first.

Power of Attorney (POA)

A Power of Attorney grants someone you trust the legal authority to act on your behalf while you’re deployed. Without one, your spouse or family member may be unable to handle basic financial and legal tasks — signing documents, managing bank accounts, selling a vehicle, enrolling children in school, or filing your taxes.

There are several types, and you may need more than one:

• General POA: Broad authority over most legal and financial matters. Convenient, but some institutions won’t accept it for specific transactions.
• Special/Limited POA: Restricted to a specific action — managing a bank account, selling a vehicle, filing taxes, enrolling children in school. More accepted by financial institutions, but you may need several to cover all situations.
• Durable POA: Remains valid even if you become incapacitated. Critical for longer or more dangerous deployments.

Your installation legal assistance office will prepare a POA for free, typically within a few days. Set an expiration date that covers your deployment length plus at least three months to account for extensions. Do this as early as possible — legal offices get very busy in the weeks before a major deployment.

Update Your Will and Beneficiary Designations

If you don’t have a will, get one before you deploy. If you do, review it. Major life changes — marriage, divorce, children, home purchase — all affect what your will should say. Your installation legal office handles this for free.

Separately, review and update beneficiary designations on:

• TSP account (Form TSP-3, updated at TSP.gov)
• SGLI life insurance (through your unit S1/personnel office)
• Any private life insurance policies
• Bank accounts and investment accounts
• Any IRAs or brokerage accounts

Beneficiary designations override your will — if your TSP names an ex-spouse as beneficiary and your will says otherwise, your ex-spouse gets the money. Review all designations every time your family situation changes.

Verify DEERS Enrollment

Ensure all eligible family members are properly enrolled in the Defense Enrollment Eligibility Reporting System (DEERS). Without proper DEERS enrollment, family members may lose access to TRICARE health coverage and other benefits while you’re deployed. Verify this at your installation ID card office before you leave.

Organize Critical Documents

Leave your designated POA holder with — or in a secure, accessible location — copies of:

• Birth certificates and passports for all family members
• Marriage certificate
• Vehicle titles and registration
• Mortgage or lease documents
• Insurance policies (life, auto, homeowners/renters)
• Account numbers, routing numbers, and login credentials for all financial accounts
• Your most recent Leave and Earnings Statement (LES)
• Contact information for your unit and chain of command

Protect Your Existing Debt (SCRA)

The Servicemembers Civil Relief Act (SCRA) caps interest rates at 6% on debt you took out before entering active duty — but only if you ask for it. This protection does not apply automatically.

Before you deploy, send written notice to every lender holding pre-service debt: credit cards, auto loans, mortgages, student loans, personal loans. Include a copy of your orders. Request the 6% interest rate cap for the duration of your active duty service.

The interest above 6% is permanently forgiven — not deferred. On a $15,000 auto loan at 7% interest, the SCRA saves you roughly $150 per year. On a mortgage or larger balance, the savings can be substantially higher. The reduction applies retroactively to the date you entered active duty, so claiming it even mid-deployment recovers back interest.

Additional SCRA protections to invoke if applicable:

• Lease termination: If you’re in a rental, provide written notice with your orders to terminate penalty-free (effective 30 days after next rent due date)
• Auto lease termination: If you have a vehicle lease signed before service, SCRA may allow termination for deployments of 180+ days
• Cell phone contract termination: If deploying to an area without your carrier’s service, you can cancel without penalty
• Foreclosure protection: Notifying your mortgage servicer of your active duty status adds legal protections against foreclosure

Contact your installation JAG or legal assistance office if you have questions about which SCRA protections apply to your specific situation.

Automate Your Bills and Banking

Your goal before deployment is to make your finances run themselves. Time zone differences, communication blackouts, and operational demands mean you cannot reliably manage bills manually from downrange.

Set Up Automatic Payments

Automate every recurring bill possible:

• Mortgage or rent
• Auto loan payments
• Insurance premiums (auto, homeowners/renters, life)
• Credit card minimum payments (at minimum — consider paying in full)
• Utilities
• Student loan payments
• Phone and internet

Use bank account direct withdrawal rather than a credit card for autopay where possible. Credit cards expire and get replaced — a bank account routing number doesn’t change. If you use a credit card for autopay, make sure it won’t expire during your deployment and that the card has a high enough limit to handle months of charges.

Establish a Deployment Budget

Your income changes on deployment. BAH may change or stop if you’re provided government quarters. BAS may change. Combat zone tax exclusion (CZTE) may eliminate federal income tax on your base pay entirely. Hazard pay and hostile fire pay add to your income. Build a new budget accounting for these changes before you leave, not after you arrive.

Set Up Account Alerts

Configure low-balance alerts, large transaction notifications, and failed payment alerts on every account. These will catch problems — a missed autopay, an unexpected charge, a potential fraud — even when you’re not actively monitoring your accounts.

Give Financial Account Access to Your POA Holder

Ensure the person holding your POA can access your accounts if needed. This includes online banking credentials, PINs, investment account logins, and access to view your LES (how to read your LES) through MyPay. Consider setting up a joint account or authorized user status on key accounts if your POA holder will be managing day-to-day finances.

Review Your Insurance Coverage

Servicemembers’ Group Life Insurance (SGLI)

Active duty service members are automatically enrolled in SGLI at the maximum $400,000 coverage unless they’ve opted for a lower amount or opted out. Before deploying, verify your SGLI coverage level and confirm your beneficiary designation is current through your unit S1 or personnel office. SGLI premiums are deducted from your pay and continue during deployment.

At $400,000 coverage for roughly $29/month, SGLI is one of the best life insurance values available. If you’ve reduced your coverage or opted out, reconsider before a combat deployment.

Family Servicemembers’ Group Life Insurance (FSGLI)

If you have a spouse and/or dependent children, verify your FSGLI coverage. Spouses can be covered up to $100,000 (in $10,000 increments) and dependent children receive $10,000 in coverage at no cost. Review coverage levels and ensure your family’s protection is appropriate.

Auto Insurance

If your vehicle will be stored or rarely driven during deployment, contact your auto insurer about a deployment rate reduction. Many insurers offer significantly reduced premiums for vehicles in storage. You’ll typically need to reduce coverage to comprehensive-only (no collision) and confirm the vehicle won’t be driven. This can save $50–$150/month depending on your policy.

If you haven’t compared rates in a year or more, it’s a good idea to compare auto insurance rates to max out your savings.

Homeowners or Renters Insurance

Verify your policy won’t lapse during your deployment and that coverage remains adequate for property left at home. If a family member is staying in the home, ensure they’re aware of the policy details and how to file a claim. Read our guide to homeowners insurance.

Maximize Your TSP During Deployment

Deployment dramatically expands your TSP savings capacity. Under normal circumstances, the annual elective deferral limit is $24,500 in 2026. During a combat zone deployment, traditional TSP contributions from tax-exempt pay count toward the much higher $72,000 annual additions limit instead — giving you room to contribute far more than you could in a non-deployment year.

Key rules to understand before you adjust your TSP contributions:

• Roth TSP contributions from combat zone pay are still capped at $24,500. Only traditional TSP contributions from tax-exempt combat pay benefit from the higher $72,000 limit.
• Don’t max out Roth TSP too early in the year. If you hit $24,500 before December, you’ll make zero contributions in the remaining months — and lose BRS matching for those months. Pace contributions across all 12 months to protect your match.
• BRS matching is based on base pay percentage. Contribute at least 5% of base pay every month to capture the full DoD match.
• Update your contribution election through MyPay or your unit finance office before or immediately after arrival in theater.

For a deeper look at TSP strategy during and outside deployment, see our Military TSP Guide 2026 and savings targets by rank. TSP’s are a powerful wealth building tool. You can learn more about TSP fund ultra low fees and historical performance.

The Savings Deposit Program (SDP)

The Savings Deposit Program is one of the most underused financial benefits in the military, and deployment is the only time you can access it.

The SDP allows service members deployed to designated combat zones to deposit up to $10,000 and earn a guaranteed 10% annual interest rate. That’s not a typo — 10%, guaranteed, from the U.S. government. In a financial environment where high-yield savings accounts offer 3–4%, the SDP’s guaranteed return is extraordinary.

Key SDP details:

• Available to service members deployed to a designated combat zone for 30+ consecutive days, or any month where they are in the combat zone
• Maximum deposit: $10,000 per deployment
• Interest rate: 10% per year, compounded quarterly
• Interest is taxable income (unlike the underlying combat zone pay)
• Deposits can be made via cash, check, or payroll allotment through MyPay
• Funds must be withdrawn within 90 days of returning from the combat zone

To enroll, contact your unit finance office or set up an allotment through MyPay after arriving in theater. Do this early in your deployment — every month you delay is a month of 10% guaranteed returns you’re leaving on the table.

For more information, visit the DFAS Savings Deposit Program page.

Fund Your Roth IRA with Tax-Free Pay

If you’re deployed to a designated combat zone, your base pay becomes exempt from federal income tax under the Combat Zone Tax Exclusion (CZTE). Contributions to a Roth IRA from that tax-free pay create a triple tax advantage that no civilian investor can access:

• The money goes in tax-free (never taxed as income)
• It grows tax-free inside the Roth IRA
• It comes out tax-free in retirement

The 2026 Roth IRA contribution limit is $7,000 ($583/month). If you’re deployed for six or more months, you can fully fund a Roth IRA for the year entirely from tax-free pay. That’s $7,000 that will never be touched by taxes at any point in your lifetime.

If you’re married, your spouse can contribute to their own Roth IRA as well — funded from your combat pay allotment — for another $7,000 in triple-tax-advantaged contributions. That’s $14,000 for the household in a single deployment year.

Open a Roth IRA at a low-cost brokerage (Fidelity, Vanguard, or Schwab are the most commonly recommended) before you deploy and set up a monthly contribution allotment through MyPay. Don’t wait until you return — every month in theater is an opportunity you can’t get back.

Pause or Cancel Unused Services

Deployment is an opportunity to eliminate subscription and service costs you won’t use while you’re gone. Services to review:

• Streaming services (Netflix, Hulu, Disney+, etc.) — pause or cancel
• Gym memberships — many gyms offer military deployment pauses; ask before canceling outright
• Internet service — if no one is using your home internet, contact your provider about suspension
• Cable or satellite TV — pause if the home will be unoccupied
• Cell phone plan — if deploying to a combat zone, consider pausing your personal plan (SCRA allows penalty-free cancellation if the deployment area doesn’t support your carrier’s service)
• Magazines, subscription boxes, or other recurring deliveries — cancel or redirect

Even $100–$200/month in paused subscriptions adds up to $900–$1,800 over a 9-month deployment — money better directed toward your SDP or Roth IRA.

Tax Considerations Before You Deploy

Combat Zone Tax Exclusion (CZTE)

If you’ll be deployed to a designated combat zone, your base pay for any month you’re present — even just one day — is excluded from federal income tax. Enlisted members receive full exclusion on all pay; officers are capped at the highest enlisted pay rate (approximately $10,000/month in 2026). Understand how this affects your withholding and plan your TSP and IRA contributions accordingly.

Filing Extensions

Service members deployed to a combat zone automatically receive a tax filing extension of at least 180 days after leaving the combat zone. You don’t need to request this — it applies automatically. If taxes will be due during your deployment, your POA holder can file on your behalf, or you can take advantage of the automatic extension.

State Income Tax

The SCRA protects nonresident service members from state income tax on military pay simply because orders brought them to that state. Military spouses have additional flexibility in electing their state of domicile for tax purposes. If you’re in a high-tax state, verify your state tax withholding situation before deploying and consult your installation legal or finance office if uncertain.

Check military and veteran benefits by state.

Free Tax Filing Resources

Service members can file federal and state taxes for free through MilTax, available through Military OneSource. This includes free preparation software and, in some cases, consultations with tax professionals at no cost.

If You Have a Family: Additional Steps

Service members with spouses, children, or other dependents have additional financial and administrative tasks before deploying.

Family Care Plan

A Family Care Plan is required for single parents, dual-military couples with children, and service members who are sole caregivers. It documents who will care for your dependents during your deployment and must be approved by your command before you leave. Start this process early — it requires coordination with the designated caregiver and approval up the chain of command.

BAH and Allotment Planning

If your family is remaining at your duty station or another location, verify your BAH rate is correct and will continue during deployment. Set up a monthly allotment through MyPay to automatically transfer a portion of your pay to your family’s household account. This ensures bills are paid and your family has reliable access to funds without waiting on transfers.

TRICARE Verification

Confirm your family’s TRICARE coverage and understand which plan options are available in their location during your deployment. If your family will be staying near the installation, TRICARE Prime is likely available. If they’re relocating to be near extended family, verify TRICARE coverage in that area before you leave.

Emergency Contacts and Support Programs

Ensure your family knows about installation support resources available during deployment, including Family Readiness Officers (FROs), Military Family Support Centers, and Military OneSource. These programs provide counseling, childcare resources, financial assistance, and community support — but families need to know they exist before they need them.

Quick Reference Checklist

Frequently Asked Questions

This article is provided by USMilitary.org, an independent educational resource. We are not affiliated with the Department of Defense, the VA, or any government agency. The information above is for educational purposes only and does not constitute legal or financial advice. For help with specific deployment financial situations, contact your installation legal assistance office, finance office, or Military OneSource at 1-800-342-9647 — free for all active duty service members and their families.