Managing finances as a military spouse comes with unique challenges. Frequent relocations, career interruptions, and often living on a single income can make financial stability feel like an uphill battle. However, with the right mindset, a solid side hustle, and some smart money habits, you can take control of your finances and start thriving. In this blog post, we’ll explore key takeaways from my latest podcast episode featuring Rachel Minns, a money coach and Royal Navy spouse, along with some valuable resources to help you get started.
Why Financial Awareness Matters for Military Families
One of the biggest struggles military families face is financial unpredictability. While there’s a misconception that military families have everything provided for them, the reality is often quite different. Many military spouses find themselves navigating employment gaps or having to start over every time their family relocates.
That’s why building financial resilience and having a strong money mindset is crucial. Understanding your income, expenses, and where you can optimize your finances can be life-changing. Rachel Minns emphasizes the importance of budgeting, tracking expenses, and creating separate accounts for business finances; especially if you’re running a side hustle.
Starting a Profitable Side Hustle as a Military Spouse
Many military spouses turn to side hustles as a way to create financial security while maintaining flexibility. Whether you’re selling military-themed gifts and apparel (like I do at Married to the Military) or providing a service, there are countless ways to build an income stream that fits your lifestyle.
Here are some key steps to starting a side hustle:
- Find Your Niche: What are you passionate about? What skills do you have that others find valuable?
- Set Up Separate Finances: Rachel recommends opening a separate bank account for business income and expenses to keep your bookkeeping clean.
- Understand Your Costs & Pricing: Many small business owners underprice their products because of a scarcity mindset—believe in the value of your work!
- Leverage Online Platforms: Selling on Etsy, Shopify, or your own website can make your products more accessible.
- Network & Market Yourself: Instagram, Facebook, and word-of-mouth are powerful tools for getting your side hustle seen.
For free advice on starting and growing your own military spouse side hustle, check out Op Boss and follow Op Boss HQ on Instagram.
Smart Bookkeeping & Money Habits for Side Hustlers
Once your business starts generating income, bookkeeping becomes essential. Many small business owners struggle with managing money, which is why having a clear financial plan is crucial.
Rachel Minns offers a fantastic free Facebook group, Coffee and Cashflow, where she provides insights on managing finances, pricing for profit, and creating a sustainable income.
Additionally, her website Flourish Money Coach provides free resources and coaching support for military spouses looking to gain financial confidence.
Key money habits to develop:
- Set aside a portion of each sale for taxes and reinvestment.
- Regularly review your expenses to cut unnecessary costs.
- Price your products for profit, not just to break even.
- Learn about profit margins and cash flow forecasting.
Military-Themed Gifts & Books for Military Families
If you’re looking for thoughtful gifts for military families, my store Married to the Military offers a range of military-themed apparel, home decor, and keepsakes designed to celebrate the unique experiences of military life.
I also write educational books for military children, aimed at supporting their emotional well-being through the challenges of deployment and separation. You can find my books on Amazon:
📚 My Mummy’s an Aviator
📚 My Daddy’s an Aviator
📚 My Mummy’s a Soldier
📚 My Daddy’s a Soldier
📚 My Mummy’s at Sea
📚 My Daddy’s at Sea
These books provide a comforting and relatable way for military children to understand and cope with their parents' unique careers.
Final Thoughts: Take Control of Your Financial Future
Money doesn’t have to be a source of stress. It can be a tool for freedom, stability, and growth. Whether you’re looking to start a side hustle, improve your money mindset, or just get smarter with your budgeting, there are incredible resources out there to help you.
🔹 For free financial tools & coaching, visit: Flourish Money Coach
🔹 Join the Coffee & Cashflow Facebook group: Click here
🔹 Follow Op Boss for motivational tips: Op Boss HQ on Instagram
🔹 Shop military gifts & books: Married to the Military
Listen to the Podcast
Want to dive deeper into these topics? Listen to my conversation with Rachel Minns on the Married to the Military podcast! We break down everything from side hustles to smart money habits to help military spouses take control of their finances.
🎧 Listen now:
📍 YouTube: https://youtu.be/NBrVc031uQE
📍 Spotify: https://open.spotify.com/episode/4xOr26NQoaq9Lhf5YozhM0?si=3588b5166e454b94
📍 Apple Podcasts: https://podcasts.apple.com/us/podcast/episode-8-money-mindset-and-side-hustles-for-milsos/id1750775309?i=1000692972896
Start taking small, intentional steps today and watch your financial confidence grow!