Monday, December 11, 2006

How I Got a $14,900 Annual Pay Raise

In my last post I mentioned that I was drafted (sort of). Well, everybody in the military gets a bump in their income when serving in a combat zone. While in Afghanistan, I qualify for an equivalent pay raise of $14,900 for my 12 months here.

The way it's broken down is:

Family separation Pay: $250/month
Imminent Danger Pay: $225/month
Hazardous Duty Pay: $150/month
Per Diem: $105/month
No Federal Income Tax: $326/month
Free Food: $187/month

Total: $1243/month or $14916/year

Of course, i'd give this all back for being back home.

I'm planning on using this extra money to help pay off two 401k loans that I took out for a down payment on our primary residence and the purchase of an AC system for a rental property.


Finance Junkie said...

On January 1st, everybody in the military gets a 2.2% annual adjustment for inflation.

While I suspect that may be less than the actual CPI and PPI, every little bit helps.

Anonymous said...

My hats off to you, mate, for doing what you're doing. I love the troops!

Anonymous said...

Wishing you a safe trip and return.


Grant said...

Thank you for what you are doing over there. Keep up the good work.

Best wishes and God bless!