Military Allotment Savings Bond Benefits

As a prospective member of the United States Armed Forces there are a lot of choices that you have to make. One of the choices that you have as you settle into enlisted life after Basic training is to decide on your allotment and resources that you receive as pay and benefits. As a military active duty Servicemember, in the United States Armed Forces, you can choose to set aside a portion of your pay and allowances in the form of an allotment, to put aside in savings some of what you earn. Enlisted Servicemembers can set up different allotments, or payments to take care of bills, or to set money aside for savings using the military allotment system.

A wise choice that many Servicemembers choose is the U.S. Savings Bond program. It is a program that has been tweaked and undergone a great deal of adjustment and change over the last couple of decades, and it is because of those different changes that makes the system attractive for enlisted people to set aside money in. With the advent of computers the Savings Bonds can be purchased through your allotments, or you can choose to purchase them on your own using electronic Internet based methods. They carry little or no risk, and they are backed by the full guarantee of the United States Government. While bonds carry a lower interest rate they are some of the safest investments that there are. Plus when you purchase a U.S. Saving Bond you are directly supporting the efforts of our nation by reinvesting some of your own personal hard earned pay.

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You can purchase electronically on the web over the Internet, or sign up to have a small amount deducted every paycheck as a military allotment. To set up a purchase account for U.S. Savings bonds is easy, its possible to have a savings bond account automatically debit a bank account or credit union checking or savings account at the same time every month. When Savings Bonds mature, you can cash them out and direct the money into an account in the same method.

All that is required as a Servicemember is to have an up to date web browser and Internet access, an email, and some sort of savings or checking account. That’s it. If you have those things you are ready to go.