Preparing Your Finances for Deployment: 2027 Checklist

To prepare your finances for a deployment, start 60 to 90 days out: get powers of attorney from your installation legal office, put every bill on autopay, set up myPay allotments, and leave the person at home a clear list of accounts and an emergency fund. Once in theater, the Savings Deposit Program pays 10% annual interest on up to $10,000 per deployment, and the combat zone tax exclusion can make much of your pay federal-tax-free. This 2027 checklist for Hampton Roads service members was checked against DoD, IRS, Military OneSource and the text of the Servicemembers Civil Relief Act in October 2026.

Program	What It Does	Who Qualifies
Savings Deposit Program (SDP)	10% annual interest on up to $10,000 per deployment; interest runs up to 90 days after you leave	Members receiving Hostile Fire/Imminent Danger Pay, deployed 30+ consecutive days or 1 day in each of 3 consecutive months
Combat Zone Tax Exclusion	Military pay for each month in the zone excluded from federal income tax (officers up to a cap)	Service in an IRS-recognized combat zone; one day in a month counts for the whole month
SCRA Interest Rate Cap	Caps interest at 6% on debts incurred before active duty; excess interest is forgiven	Members on active duty, including Guard and Reserve called to active duty, with pre-service debts
Servicemembers Civil Relief Act	Lease termination rights, default-judgment protections, and foreclosure protection on pre-service mortgages	Members on active duty (each protection has its own conditions)
TRICARE	Continues for enrolled family during deployment; DEERS and ID cards must be current	Service members + dependents

Power of attorney

A general POA lets the person you name act for you on almost anything; a special POA covers one transaction, such as selling a car or signing at a home closing. Some institutions will not accept a general POA, and many banks and lenders have their own forms, so ask each one before you leave. Your installation legal assistance office prepares POAs at no cost; the Armed Forces Legal Services Locator finds the one serving your Hampton Roads command. You can revoke a POA at any time.

Automate everything

Put the mortgage or rent, car payments, insurance, utilities and every card minimum on autopay 60 or more days out, so one full cycle clears while you are home. Keep two months of expenses in checking to absorb timing, and turn on low-balance alerts.

Savings Deposit Program (SDP)

The SDP pays 10% annual interest on up to $10,000 per deployment. You must be receiving Hostile Fire/Imminent Danger Pay and be deployed at least 30 consecutive days, or one day in each of three consecutive months. Deposits come from unallotted pay through the finance office. Interest continues for up to 90 days after you leave the area; emergency withdrawals while deployed need commander approval.

SCRA protections

The SCRA caps interest at 6% on debts you took on before entering active duty. It does not cover a loan you took out while already serving, so it matters most for Guard and Reserve members called to active duty and for debts from before you joined. Interest above 6% is forgiven, not deferred. For mortgages the cap lasts through service plus one year; for other debts, only during service. Send each creditor a written request with your orders, within 180 days after service ends.

Other protections reach more people: you can end a residential lease signed during service if you deploy for at least 90 days, or a vehicle lease for a deployment of at least 180 days, and courts must follow extra steps before entering a default judgment against you.

Combat zone tax exclusion

Enlisted members and warrant officers exclude all military pay for each month in a combat zone from federal income tax; commissioned officers exclude up to the highest enlisted pay rate plus Imminent Danger/Hostile Fire Pay. One day in the zone counts as the whole month. The IRS extends filing deadlines for the time in the zone plus 180 days, generally for your spouse too. Virginia grants the federal extension plus 15 days, or one year, whichever is later, and does not tax pay excluded federally. A base tax center can confirm which dates qualify.

Allotments

Set up allotments in myPay to send part of each paycheck to joint checking or savings. You can have no more than six discretionary allotments, only one to the same payee, and none for buying, leasing or renting personal property such as a car. Nondiscretionary allotments, such as repaying a government debt, do not count toward the six.

Emergency fund

Aim for three to six months of expenses in savings the person at home can reach without you. Make sure they also know how to contact your branch's relief society, such as Navy-Marine Corps Relief Society or Army Emergency Relief.

Family budget while deployed

Walk through the budget together. Hostile Fire/Imminent Danger Pay may start, and members with dependents separated more than 30 days may receive Family Separation Allowance; BAH generally stays tied to your permanent duty station. Build the budget on regular pay and save the extra. List every account, due date and contact, and add your spouse as a joint owner or authorized user rather than sharing passwords. Military OneSource offers free financial counseling.

Your home during a deployment

If you own, confirm the mortgage, HOA dues and insurance are on autopay, give the servicer your POA holder's details, and ask your insurer whether a vacant house changes coverage. If you rent, the 90-day rule above lets you end a lease with written notice and a copy of orders. Keeping the house as a rental? Read our guide to becoming a military landlord in Hampton Roads. Buying or selling while deployed usually needs a special POA that names the property, so ask your lender and closing attorney what they require. See VA loan basics for Hampton Roads buyers and the Hampton Roads military relocation guide.

Frequently Asked Questions

What is the Savings Deposit Program?

A DoD program paying 10% annual interest on up to $10,000 per deployment for members receiving Hostile Fire/Imminent Danger Pay who meet the 30-day rule. Enroll through finance.

Should I set up power of attorney before deployment?

Yes. Get special POAs for specific tasks, free from the legal assistance office. Without one, your family usually cannot sign for you.

What does SCRA do for me during deployment?

It caps interest at 6% on debts from before active duty, lets you end a lease signed during service for a 90-day or longer deployment, and protects against default judgments.

Is combat pay tax-free?

For enlisted members and warrant officers, all military pay for each month in a combat zone is federally tax-free; officers exclude up to a cap. Virginia does not tax the excluded amount.

How much should I have in an emergency fund before deployment?

Three to six months of household expenses, more if you own a home.

Can I auto-pay my mortgage during deployment?

Yes. Set it up 60 or more days out so one payment clears while you are home.

What should I do about my house if deploying?

Put the mortgage, HOA and insurance on autopay, and arrange lawn care, mail and check-ins if it will be empty.

Does my spouse get military benefits while I'm deployed?

Yes. TRICARE continues if DEERS and ID cards stay current, commissary access continues, and BAH generally stays at your permanent duty station rate.

Sources & further reading

• DOJ — Servicemembers Civil Relief Act
• 50 U.S.C. 3937: SCRA 6% interest cap
• 50 U.S.C. 3955: SCRA lease termination
• DFAS — Savings Deposit Program
• Military OneSource
• Military OneSource: power of attorney basics
• IRS — Information for Members of the Military
• IRS: tax exclusion for combat service
• IRS: extension of deadlines, combat zone service
• Virginia Tax: military tax tips

Rules checked October 29, 2026. Always confirm current details with your finance office, legal assistance office, lender, or a licensed tax professional before relying on any specific figure or rule.