Basic Allowance for Housing (BAH) or Overseas Cost of Living Allowance (COLA), which one is the real money maker for military personnel?

They are not intended to be money makers, if you and your Family can live more economically and bank some of it then that is good for you. If too many people brag about any benefit being in excess/money makers I can assure you that someone will take notice and look to correct it politically.

I was able to save more BAH than COLA.. COLA fluctuates month to month so not really a guarantee to save depending on the projections.. BAH I saved for a little while while in the DC area but I tell you my family's living corridors were not up to par! I quickly moved them to the standard of living over in MD. But to answer your question, in my case, BAH can be saved easier with sacrifice to living conditions. COLA is more closely looked at and it really only covers the cost of living.. It's almost as a sort of tax relief every month. Here in the great Euro anyway.

BAH and COLA aren't the same thing. BAH is the state-side equivalent of OHA. COLA is an allowance meant to compensate for the higher cost of goods at some overseas locations. Neither is a "money maker", they're all allowances to pay for housing and living expenses.