The Military Money Manual Podcast

Spencer Reese from MilitaryMoneyManual.com
  • 5.0 (141)
  • INVESTING

Military Money: Investing, spending, saving, financial freedom, and getting out of debt. Real world tactics and strategies for active duty, Guard and Reserve, military spouses, veterans, enlisted, and officers. The Military Money Manual Podcast is all about achieving financial independence while you serve in the US military. Spencer and Jamie, Air Force officers, share everything you need to know to achieve your financial goals while you serve in our Armed Forces. Learn about Military Credit Card annual fee waivers exclusively for active duty, Guard, Reserve, and military spouses in the Ultimate Military Credit Cards Course at https://militarymoneymanual.com/umc3 Find Spencer's 5-star rated book, The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or https://shop.militarymoneymanual.com Special military credit card benefits, points and miles, investing in the TSP, financial independence, retiring early, military FIRE, maximizing military pay, deployment finances: Jamie and Spencer cover it all. Your hosts are Spencer Reese and Jamie. Spencer served for 12 years in the US Air Force flying C-17 aircraft around the globe. Jamie is currently an active duty Air Force officer.

  1. 2D AGO

    Build the Life You Want, Then Save for It. 5 Minute Military Money 9/10 #227

    Step 9 in our 10-part series: build the life you want and save for it. Spencer and Jamie step away from the spreadsheet to remind listeners that financial independence is a means to an end — not the end itself. Topics covered: Why high savers can lose sight of why they're saving and fall into a "scarcity mindset" The danger of grinding toward a 20-year retirement without enjoying the journey along the way How Spencer and Jamie made the deliberate choice to spend above BAH in Hawaii — and why it was worth it The concept of Coast FI: once you've saved enough, dialing back from a 40% to a 30% savings rate may only push your FI date back by a year The transition from scarcity to abundance mindset — and why you'll inevitably spend money on things that don't bring you joy (and why that's okay) How to "test" big splurges before retirement: try the business class upgrade once, see if it's worth it to you Why spending on experiences now is an investment in understanding what actually makes you happy Don't wait until 55 or 75 to enjoy your money — build the life you want intentionally, on the way to FI Resources mentioned: The Golden Albatross by Grumpus Maximus (book on cliff-vested military pensions) Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 22,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain. Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

    12 min

  2. APR 27

    Max Out Your Roth TSP | 5 Minute Military Money 8/10 #226

    Step 8 in our 10-part series: max out your Roth TSP. Spencer and Jamie explain the triple tax benefit military members get by combining low-taxed allowances with Roth contributions, and why maxing the TSP is a stretch goal — not a year-one expectation. Topics covered: The 2025 Roth TSP contribution limit is $23,500 (Spencer's projection for 2026: ~$24,500) Why BRS participants need to spread contributions across all 12 months to get the full match How deployed servicemembers in a Combat Zone Tax Exclusion (CZTE) area can contribute above the standard limit The triple tax benefit: BAH and BAS are untaxed allowances, Roth contributions grow tax-free, and qualified withdrawals after 59½ are tax-free What maxing looks like in practice: ~49% of base pay for an E-5 over 6, ~28% for an O-3 over 4 Why this is an "advanced" step — most Americans barely save 5% for retirement It's okay to save 20% instead of maxing out — you're just pushing your FI date back Annual contribution limits are use-it-or-lose-it — you can't recover last year's unused space Why starting early matters more than the amount, thanks to compounding Spencer's TSP max contribution chart by rank and time in service Resources mentioned: tsp.gov (to confirm current year contribution limits) militarymoneymanual.com/tsp Military Money Manual TSP max contribution chart by rank and time in service Past episodes covering TSP contributions in Combat Zone Tax Exclusion (CZTE) areas Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call at militarymoneymanual.com/mentor. Over 22,000 military servicemembers and military spouses have graduated from the 100% free Ultimate Military Credit Cards Course, available at militarymoneymanual.com/umc3. In the course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual. Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain.

    9 min

  3. APR 20

    Open Your Roth IRA, Invest in a Total Stock Market Index Fund | 5 Minute Military Money 7/10 #225

    Step 7 in our 10-part series: open a Roth IRA at Vanguard, Fidelity, or Schwab and max out your contribution into a total stock market index fund. Spencer and Jamie break down why the LADS method (Low-cost, Automated, Diversified, Simple) beats stock picking and why Roth almost always wins for military pay. Topics covered: Why to open a Roth IRA at one of the big three: Vanguard, Fidelity, or Schwab Total stock market index fund options: VTI, SCHB, FZROX, VTSAX, VT Spencer's LADS method: Low-cost, Automated, Diversified, Simple How low fees compound — 3 cents per $100 vs. high-load funds from military-targeted advisors Buying the haystack instead of hunting for the needle (you already owned Nvidia a decade ago) Mutual funds vs. ETFs — why the difference doesn't matter for most investors Recreating a total US stock market in the TSP with 80% C Fund / 20% S Fund How the Roth IRA is a separate bucket from the Roth TSP — both have their own contribution limits Why Roth (pay taxes now) beats Traditional for most military families with low effective tax rates The narrow edge cases where Traditional might make sense (O-5+ doctors, some dual-military couples) Spencer's effective tax rate as a pilot and major was under 10% — often under 5% Resources mentioned: Vanguard, Fidelity, Schwab (Roth IRA providers) VTI — Vanguard Total Stock Market Index Fund SCHB — Schwab Total Stock Market Index Fund FZROX — Fidelity Total Stock Market Index Fund VTSAX — Vanguard Total Stock Market mutual fund tsp.gov (for current contribution limits) Bogleheads forum (for the mutual fund vs. ETF deep dive) Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call at militarymoneymanual.com/mentor. Over 22,000 military servicemembers and military spouses have graduated from the 100% free Ultimate Military Credit Cards Course, available at militarymoneymanual.com/umc3. In the course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual. Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain.

    10 min

  4. APR 13

    Build Your Emergency Fund | 5 Minute Military Money 6/10 #224

    Step 6 in our 10-part series: grow your emergency fund to cover three months of expenses. Spencer and Jamie explain why your "SWAN number" (Sleep Well At Night) matters more than the math, why you should default to your partner's comfort level, and why this money is insurance — not an investment. Topics covered: Why three months of expenses is a solid starting point for most military families The SWAN number concept — your emergency fund should let you sleep at night If you and your partner disagree on the amount, default to whoever wants more Emergency funds turn emergencies into inconveniences This is savings, not an investment — you can't afford for it to go down in a market dip Adjusting your emergency fund for PCS season or military separation Your budget may reveal expenses you don't actually value (streaming subscriptions, etc.) Keep your emergency fund in a separate account, completely earmarked from other money Resources mentioned: Military Emergency Fund Q&A — Military Money Manual Podcast Episode 51 Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call at militarymoneymanual.com/mentor. Over 22,000 military servicemembers and military spouses have graduated from the 100% free Ultimate Military Credit Cards Course, available at militarymoneymanual.com/umc3. In the course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

    5 min

  5. APR 6

    Pay Off High-Interest Rate Debt | 5 Minute Military Money 5/10 #223

    Step 5 in our 10-part series: pay down your high interest rate debt. Spencer and Jamie share how they each paid off six figures of debt on military pay, why debt robs your future self of choices, and where to find free help if you're overwhelmed. Topics covered: Why non-asset-backed debt (credit cards, auto loans, student loans) is working against you The 5-6% interest rate threshold for "high interest" vs. "low interest" debt Why Spencer has become more debt-averse over time — even toward low-interest career starter loans The emotional and psychological weight of debt, and how paying it off changed both hosts' financial trajectories Scarcity mindset vs. abundance mentality — and why you might need a temporary scarcity mindset to get out of debt Ways to increase income in the military: spouse employment, side hustles, DoorDash, garage sales, Facebook Marketplace Debt affects all ranks and all ages — don't let embarrassment keep you from getting help Resources mentioned: The Total Money Makeover by Dave Ramsey (available on Libby app and base libraries) Financial Peace University (Dave Ramsey) Dave Ramsey's 7 Baby Steps — Military Money Manual Podcast Episode 135 How to Get Out of Debt in the Military — Episode 14 Spencer & Jamie's Debt Stories — Episode 15 On-base financial counseling services (accredited financial counselors) Military OneSource (text, chat, phone, video counseling) Spencer is offering one-on-one Military Money Coaching sessions! Get your personal military money and investing questions answered in a confidential coaching call. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com. If you want to maximize your military paycheck, check out Spencer's 5-star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3. The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops. Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain. Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 22,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

    11 min

  6. MAR 30

    Budget for the "Four Walls" | Food, Utilities, Shelter, Transportation: 5 Minute Military Money 4/10 #222

    _*]:min-w-0 gap-3"> Step 4 of the 10-part military finance essentials series. Spencer and Jamie explain how to create a realistic budget focusing on "the four walls": food, utilities, shelter, and transportation. Learn which budgeting tools work best, why tracking spending matters, and how to avoid the biggest financial trap in the military—buying too much car. _*]:min-w-0 gap-3"> Create a Realistic Budget _*]:min-w-0 gap-3"> Focus on the Four Walls first: Food Utilities Shelter (rent/housing) Transportation _*]:min-w-0 gap-3"> Then track: Other necessary expenses Discretionary spending Where money is actually going _*]:min-w-0 gap-3"> Recommended Apps: Monarch Money - $100/year (Spencer's current choice, replaced Mint.com) YNAB (You Need A Budget) - $109/year (Jamie's choice) Google Sheets or Excel - Free (works fine for beginners) Pen and paper - Free (better than nothing) _*]:min-w-0 gap-3"> Cash Envelope Method Key Points _*]:min-w-0 gap-3"> Military Advantages: Housing usually covered (BAH or base housing) Food access (DFAC for single members) Should be "almost zero situations" where four walls are an issue This frees up money for other goals _*]:min-w-0 gap-3"> Biggest Trap: Buying Too Much Car _*]:min-w-0 gap-3"> What to Look For _*]:min-w-0 gap-3"> The Goal: Align spending with your values—spend on what matters, cut what doesn't _*]:min-w-0 gap-3"> _*]:min-w-0 gap-3"> Important Reminders _*]:min-w-0 gap-3"> Budget = A Plan Not restrictive, just intentional Know what's coming in, what's going out Ensures you're being efficient with money _*]:min-w-0 gap-3"> Credit Cards Are NOT the Solution Don't solve overspending with credit cards Credit cards are great tools (right time, right place) Not for covering expenses you can't afford Not for living beyond your means _*]:min-w-0 gap-3"> If You're Behind: Focus on four walls FIRST Pay rent, utilities, food, transportation Everything else comes after Create safe, stable environment so you can focus on work/mission _*]:min-w-0 gap-3"> _*]:min-w-0 gap-3"> Resources _*]:min-w-0 gap-3"> Episode 48: Four Ways to Budget a Military Paycheck (deep dive) Monarch Money: monarchmoney.com YNAB: youneedabudget.com Military Money Manual Book: Full budgeting strategies   Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 22,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain. Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

    6 min

  7. MAR 23

    Save Your $1,000 Emergency Fund: 5 Minute Military Money 3/10 #221

    Step 3 of the 10-part military finance essentials series. Spencer and Jamie explain why every service member needs a $1,000 emergency fund. This starter fund stops you from living paycheck to paycheck, prevents debt accumulation, and turns emergencies into inconveniences. What to Do Save $1,000 Emergency Fund Timeline: $100/week = 10 weeks $250/month = 4 months Where to keep it: High yield savings account (separate from checking) Must be FDIC or NCUA insured Options: Ally, Marcus, Capital One 360, USAA, Navy Federal Key Points Why $1,000? Covers most common emergencies (flat tire, minor repairs, appliance breakdown) Creates mental clarity and breathing room Prevents credit card debt and payday loans Most Americans can't cover $1,000 emergency - don't be one of them The Mental Shift: With $1,000 saved: emergencies become inconveniences, not crises Flat tire = annoying, not catastrophic Unexpected expense = manageable, not panic-inducing Important Notes: This is a starter emergency fund (you'll build bigger later) Okay to temporarily keep at USAA/Navy Federal Must be in separate account from daily spending Don't skip this to invest more Bottom Line: $1,000 emergency fund = financial breathing room. Transforms emergencies from crises into inconveniences. Start saving now. Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 22,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain. Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

    5 min

  8. MAR 16

    Create Your TSP Account & Choose the Right L Fund: 5 Minute Military Money 2/10 #220

    Step 2 of the 10-part series on military finance essentials. After setting up your 5% Roth TSP contribution in Step 1, now you need to create your TSP account online and make sure your money is invested in the right fund. Spencer and Jamie explain how to set up your account at tsp.gov, enable two-factor authentication, and allocate contributions to the appropriate L (lifecycle) fund based on your retirement age. What to Do Action Steps: 1. Create TSP Account Go to tsp.gov Create account/login Set up two-factor authentication Verify account is active 2. Check Your Fund Allocation Ensure contributions go to correct L Fund (lifecycle fund) Not the G Fund (too conservative for young investors) 3. Update Allocations Set current balance to appropriate L Fund Set future contributions to same L Fund Example: L 2060 or L 2065 for younger service members Key Information What is an L Fund? Which L Fund Should You Choose? Why Not the G Fund? Blended Retirement System (BRS) Resources TSP Website: tsp.gov MyPay: mypay.dfas.mil (from Step 1) TSP Course: militarymoneymanual.com/tsp   Spencer and Jamie offer one-on-one Military Money Mentor sessions. Get your personal military money and personal finance questions answered in a confidential coaching call. militarymoneymanual.com/mentor Over 22,000 military servicemembers and military spouses have graduated from the 100% free, Ultimate Military Credit Cards Course available at militarymoneymanual.com/umc3 In the Ultimate Military Credit Cards Course, you can learn how to apply for the most premium credit cards and get special military protections, such as waived annual fees, on elite cards like The Platinum Card® from American Express and the Chase Sapphire Reserve® Card. https://militarymoneymanual.com/amex-platinum-military/ https://militarymoneymanual.com/chase-sapphire-reserve-military/ Military Money Manual may receive compensation from JPMC. Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain. Learn how active duty military, military spouses, and Guard and Reserves on 30+ day active orders can get your annual fees waived on premium credit cards in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3 If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com. If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual.

    5 min
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About

Military Money: Investing, spending, saving, financial freedom, and getting out of debt. Real world tactics and strategies for active duty, Guard and Reserve, military spouses, veterans, enlisted, and officers. The Military Money Manual Podcast is all about achieving financial independence while you serve in the US military. Spencer and Jamie, Air Force officers, share everything you need to know to achieve your financial goals while you serve in our Armed Forces. Learn about Military Credit Card annual fee waivers exclusively for active duty, Guard, Reserve, and military spouses in the Ultimate Military Credit Cards Course at https://militarymoneymanual.com/umc3 Find Spencer's 5-star rated book, The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or https://shop.militarymoneymanual.com Special military credit card benefits, points and miles, investing in the TSP, financial independence, retiring early, military FIRE, maximizing military pay, deployment finances: Jamie and Spencer cover it all. Your hosts are Spencer Reese and Jamie. Spencer served for 12 years in the US Air Force flying C-17 aircraft around the globe. Jamie is currently an active duty Air Force officer.

Information

  • Creator
    Spencer Reese from MilitaryMoneyManual.com
  • Years Active
    2021 - 2026
  • Episodes
    230
  • Rating
    Clean
  • Copyright
    Copyright © 2025 Spencer Reese
  • Show Website
    The Military Money Manual Podcast

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