Editor's Note: U.S. Navy released the following announcement.
You should see more money in your bank accounts in 2014. Congress approved the National Defense Authorization Act giving service members a 1 percent pay raise.
DOD released a press release with changers to basic allowance for housing, or BAH. BAH averaged an $80 per month increase. BAH rates are determined by average market rent, utilities and renter’s insurance.
Go to the defense travel website for more information about BAH changes.
Cost of living allowance, or COLA will also be affected. So, make sure to check your leave and earnings statement for the changers to your pay this year. Go to the DFAS website for military pay tables and calculators.
Watch the video above.