Joint Base Andrews

 

Personal Financial Readiness

October 03, 2014

MISSION: Provide financial education, information and counseling that equips service members to address their current personal financial situations, maximize their financial resources and effectively handle any financial challenges that may arise throughout their military life-cycle.

CLASSES:

FTAC FINANCIAL READINESS - Mandatory financial education for First-Term Airmen. Organized and scheduled by FTAC Team Lead, no registration. Objective is to educate on Understanding of pay and entitlements, banking and allotments, checkbook/debit management, budgeting/saving, dorm move, local economy living, retirement planning/TSP, insurance, credit management, car buying, PCS moves, investing, SCRA, state/country liability laws, local fraudulent business practices, personal and family readiness. 4.0 Hours.

FIRST DUTY STATION OFFICERS FINANCIAL READINESS - Mandatory financial education for all officers within 90-days of their arrival at First Permanent Duty Station. Register for the class with the M&FSC. Schedule a one-on-one appointment if you cannot attend the class. Financial education to include: Understanding of pay and entitlements, banking and allotments, checkbook/debit management, budgeting/saving, dorm move, local economy living, retirement planning/TSP, insurance, credit management, car buying, PCS moves, investing, SCRA, state/country liability laws, local fraudulent business practices, personal and family readiness. This workshop is monthly for 60 mins. at the M&FSC.

FINANCIAL TRANSITION PLANNING - Developing a spending plan for leaving the military. Determine how much your current assets will last until you start receiving income again. Estimate your military retirement needs and options. Military vs Civilian paycheck, taxes, medical insurance, Survivor Benefit Plan, CSB/REDUX, and High-3. Must be registered to attend the 5-days TAP class. 3.0 Hours.

DORM MOVE - Know what it costs to move from your military dormitory to your first apartment. Save up for the required deposits for rent, utilities, and fees. Commuting costs, sharing apartments, deployment issues, furnished or unfurnished. 60 mins.

MILITARY PAY - Learn how to read and correct the Leave and Earnings Statement (LES), entitlements, allotments, myPay, and prepare for deployment or remote tour finances. 60 mins.

CREDIT MANAGEMENT - Learn the basics of credit management, to include: establish and build credit, review and correct your credit report, increase credit score, protect your credit and identity while in the military, and understand your rights and responsibilities. 60 mins.

SPENDING PLAN / DEBT MANAGEMENT - Learn the basics of developing your spending plan, controlling your expenses, paying down your debts, and setting SMART financial goals. 60 mins.

CAR BUYING - Learn how to research your car purchase, what you can afford, financing, rebates, researching your needs vs wants, costs, negotiation tips, when to buy, lease vs buy, and reduce the stress of making the buy. 60 mins.

HOME BUYING - Targeted for first time home buyers but others considering purchase of a home can attend.  Determine how much home you can afford, down payment, VA Home Loan references, negotiating with realtors, home inspection, financing, closing cost, home loan types, and mortgage process. 60 mins.

FORECLOSURE PREVENTION - Information on preventing home foreclosures. 60 mins.

SAVING AND INVESTING - Time in the market is better than timing the market. Provides overview on types of savings and investment products; covers basic information on IRA, 4O1K, TSP, 529 plans, and money market accounts. 60 mins.


10 STEPS TO FINANCIAL SUCCESS - Develop a spending plan, set financial goals, live within your means, pay yourself first, home ownership, investments, identify insurance needs, and seek assistance. 60 mins.

Thrift Savings Plan (TSP) - Provides overview of the rules governing TSP enrollment / participation. Making contributions, investment funds, withdrawal, and loans. 60 mins.

CONSUMER PROTECTION - How to prevent identity theft, freeze your credit report, avoid predatory lending, debt collection, frauds, scams, phising, and Serviceman Civil Relief Act (SCRA.) 60 mins.

PRE-MARITAL FINANCIAL COUNSELING - Couples will develop a spending plan, discuss their values and goals, talk about the debt they bring to the marriage, check each of their credit reports for accuracy, and more. 60 mins.

INDIVIDUAL / COUPLE FINANCIAL COUNSELING APPOINTMENTS - During these one-on-one sessions, assessments are performed to provide a clear picture of current financial situation.  Action plans are developed jointly by the counselor and client to establish goals; address identified financial situations/needs, and plan/schedule appropriate follow-up sessions. Sessions are set at 60 mins., follow up appointments are scheduled if desired.

FEDERAL FINANCIAL ASSISTANCE PROGRAMS - Public Service School Loan Forgiveness Program, Family Subsistence Supplemental Allowance (FSSA) Program, Women, Infant, Children (WIC) Program. 60 mins.

Call 1-800-981-7087 for more information and to register for desired
classes/appointments