MACDILL AIR FORCE BASE, Fla. -- Cost of living is on the rise, but so is the pay for service members!
Congress recently passed the National Defense Authorization Act, providing guidance on military funding and performance for the upcoming year.
The act goes into effect Jan. 1, 2023, and key aspects are aimed towards gradually improving quality of life for service members across the world.
The NDAA authorized a 4.6% pay raise for all military service members and Department of Defense employees. In addition, basic allowance for housing funding has seen on average a 20% raise nationwide.
BAH rates for the Tampa Bay metropolitan area, including St. Petersburg, Clearwater, Brandon and Riverview, can be found at www.travel.dod.mil/allowances or www.defensetravel.dod.mil.
MacDill Air Force Base has resources available to service members and DOD employees directed towards utilizing this additional funding responsibly.
Appointments can be made with MacDill’s Military Family and Readiness Center to meet with a financial advisor. Advisors provide service members with the opportunity to learn budgeting techniques for financial success.
“In the past, we would advise our single Airmen who are leaving the dorms to rent with a roommate,” said Kimberly Bromell, MacDill’s MFRC financial advisor. “Unfortunately, for our married service members, that isn’t really an option. This recent increase [in BAH] is going to allow them a bit more comfort in that situation, but we still urge Airmen to make a budget that adjusts for the difference while still allowing them to cover their monthly rent and expenses.”
MacDill’s MFRC hosts an assortment of courses at no cost to DOD employees across the installation. A “ditch-the-dorm” class is hosted monthly to advise junior enlisted service members with the tools to successfully move off base without placing themselves in financial duress.
“Typically we advise service members to spend no more than 25% to 30% of their income on housing,” said Dora Mays, MacDill’s MFRC flight chief. “However, this last year we’ve seen rates closer to 50% because of Tampa’s inflated cost of living. This rise in BAH is allowing Airmen to get a little closer to that optimal percentage.”
According to Mays, the MFRC’s goal is to educate every service member in financial literacy. Frequent financial counseling is a way for service members at every point in their career to continue to grow and learn as challenges arise.
“One of the things that the NDAA does that assists in establishing a personal financial mindset is the creation of financial touch points across the military lifecycle,” said Mays. “Financial counseling is now required at major focal points like deployments, moves and marriage.”
The raise in BAH is projected to reduce the level of financial stress for service members assigned to the 6th Air Refueling Wing.
“When I worked as a financial advisor, we were seeing Airmen as a disciplinary action for missed credit card or car payments,” said Mays. “Recently, it's been rent. We are interested and hopeful to see the impact this BAH adjustment will have on the community.”
For more information on MacDill’s MFRC and their resources call 813-828-0145 or visit https://macdillfss.com/military-family-readiness/.
The 6th ARW is committed to ensuring the healthy financial wellbeing of their service members and the surrounding community.