Personal Financial Management is everyone's responsibility

  • Published
  • By Col. Cassie Barlow
  • 48th Mission Support Group commander
ROYAL AIR FORCE LAKENHEATH, England --  After moving 10 different times in my military career, I know that this time of year can be very stressful on your pocketbook. Between buying new items to get settled and paying the down-payments involved when you arrive, it makes for a time when pinching pennies becomes very important.

As with any other big change in our life, the best way to deal with it is to prepare in advance. The military has a lot of great programs to help us prepare for the financial strain that may occur at different points in our career.

Here are a few examples:

The Airmen and Family Readiness Center offers personal financial readiness workshops, classes and individualized consulting to active duty military, Department of Defense civilians and their families. In addition the A&FRC partners with the Youth Center to create an awareness of positive spending habits that can last a lifetime. Programs offered by the A&FRC include:

-- First Term Airmen Center Personal Financial Readiness Workshop - A four-hour seminar conducted as part of the FTAC curriculum. The topics covered include spending plan basics, savings and investing, banking and allotments, credit and debt management, car buying and financial counseling resources.

-- First duty-station officers financial briefing, Dollar and Pence -- The AFRC provides a one-on-one personal financial management briefing to all first duty-station officers within their first 90 days of arrival.

-- Individual counseling and workshops -- Courses available in the following areas: Basic Saving and Investing, Thrift Savings Plan, Stateside/UK Home Buying, Foreclosure Avoidance, Credit Report Analysis, and Identity Theft.

Some of the new 2010 programs include:

-- Personal Financial Readiness Course -- All FTAC graduates attend a monthly financial-management course held on the first Monday of each month for four months. This program is offered on the flight line for easy access and consists of continuing education based on what was learned during the FTAC financial workshop.

-- Coupons to Saver -- The A&FRC has partnered with Defense Commissary Agency to promote saving money by using coupons. The person with the highest percentage saved each quarter wins a prize or gift certificate donated by DECA.

-- Money on the GO -- a squadron-based, consultant-led program offering financial management services. 

-- Youth and teen financial management programs are held quarterly at the Youth Center.

This year, the Air Force also started a new program called Military Saves. This is a marketing program that focuses on motivating and encouraging military families to save money every month.

For more information regarding financial management programs, or to schedule a visit, call the Airman and Family Readiness Center at 226-3808.