With the impending government shutdown, how should you prepare? I’ll spare you the lecture on having an emergency fund. If you don’t already have cash saved away, you won’t be able to do anything about it now.
I’d definitely keep an eye out on the Department of Defense News page for the latest news. However, as of 29 September, 2023, we’ll have a lapse in funding due to the shutdown. However, all service members and essential workers are expected to operate regardless.
Government Shutdowns Aren’t New
I’ve dealt with a few government shutdowns since I’ve been in. It seems like there’s a scare every year. Congress is about as functional as a room full of officers each equipped with their own ego and good idea fairy. You get the picture.
Regardless, you need to assume there will be more government shutdowns in the future. If you haven’t prepared, there are still several options for you.
Military Bank Benefits in a Government Shutdown
Many military banks will offer some type of assistance in the event of a government shutdown. Here’s the few that I’m tracking.
USAA
USAA is offering no-interest loans up to $6,000 or up to your total net pay(if you get your paycheck direct-deposited to your account with them). They’re also offering modifications or extension on certain loans and insurance payments. Check out their Government shutdown page for more information.
Navy Federal
Navy federal is offering an advance on paychecks for “all Active Duty servicemembers, Federal government employees and contractors who are paid directly by the Federal government whose pay will be affected by the shutdown, and have direct deposit set up with Navy Federal for their paycheck.” Their website states that you can sign up for direct deposit with them up to 3 days after your paycheck and still get this benefit. Check out their government shutdown page for more information.
PenFed
PenFed is offering no-interest loans up to $6,000 or up to your total net pay (if you get your paycheck direct-deposited to your account with them). They’re also offering options like skipping a payment, loan modifications, forbearance, or deferred payments. Check out their furlough page for the details.
Association of Military Banks of America
I haven’t seen any other specific bank offers, but I’m sure there are more. Check out the Association of Military Banks of America for other banks that might offer benefits during the shutdown.
Military Aid Societies
As far as I’m tracking, military aid societies will be operating. If you find out any of these are not open during the shutdown, please shoot me an email (hello@enlistedmoney.com) so I can update this information. I won’t explain each one here, but here are the links:
Army Emergency Relief
Navy-Marine Corps Relief Society
Air Force Aid Society
Coast Guard Mutual Assistance
Other Helpful Resources
There are a ton of different resources available. You might be surprised at all the local resources you might find.
Military OneSource
Military OneSource is one of the first places I check for any assistance for just about anything. They can generally point you in the right direction. They may be limited during the shutdown, but there should still be at least some limited services and counseling available.
Community Resource Guides
You can actually type in your installation and find local community resources. Not all will be financial, but you may be able to find some useful resources regardless. When you get time, you should take a look regardless.
The United Way
The United Way connects people to health care services, food pantries, mental health resources, childcare, and utility/eviction assistance, and more. – Dial 211 or https://www.unitedway.org/
Other Helpful Government Shutdown Articles
Here’s a few other helpful articles and podcasts that may be helpful as well.
Kate Horrell – Kings High Media
How A Government Shutdown Could Affect Military Pay
12 Ways to Prepare For The Next Government Shutdown
10 Things To Do During A Government Shutdown
Military Money Manual
Government Shutdown 2023 Military Pay – How to Survive
Podcast Episode – Government Shutdown Military Pay: 3 Things to Do
Stars and Stripes
From food banks to pay advances, troops have help in a government shutdown
Veteran.com
Government Shutdown and Impact to Military, Veterans
Help Me Get More Government Shutdown Resources Added
I know this isn’t all the resources out there for a government shutdown. If you know of one I’m missing, PLEASE send me an email so I can update this list and offer the most up-to-date information possible.
Send me an email at: hello@enlistedmoney.com
You can also connect with me on Instagram @enlistedmoneyguy