Personal Finance Management Programs

PERSONAL FINANCE MANAGEMENT PROGRAM

Sound personal financial management provides freedom of choice for service members and their family. Through information and referral, education and training, and financial counseling, the Navy’s Personal Financial Management (PFM) program focuses on the financial education needs of service members and their families and addresses the Navy’s need to keep personnel focused on mission readiness.

The management of personal finances is an on-going and increasing challenge to service members and their families. The PFM program provides financial and consumer education including basic financial management tools as well as more sophisticated financial planning, financial crisis counseling, and persona budget assistance.

BANKING AND FINANCIAL SERVICES

Designed to develop knowledge and skills that will enable participants utilize financial institutions and to open and maintain a checking account. Compare the pros and cons of the services and fees of various financial institutions. Participants will learn about check writing and balancing, the differences between debit and credit cards, legal ramifications of bounced checks, and the alternatives to having a checking account. This workshop is suitable for all audiences. (Class is 1 hour)

SPEND LESS, LIVE MORE (BASIC BUDGETING)

Wouldn’t it be nice to know how much money you will have in your account the day before payday? Set some goals, learn how to “make ends meet” without resorting to credit cards and loans to meet your normal monthly expenses. You can live well on military pay! Good for all, recommended for newly married and/or junior pay grades.

(Class is 1 hour)

INDIVIDUAL FINANCIAL COUNSELING SERVICES

Are you juggling your bills? Are creditors calling for debt collection? Need help to repay your debts and still have money to live on? Want to learn more about paying for education, retirement or investing and want a private session? A Fleet & Family Support Center (FFSC) financial counselor is available Monday through Friday for assistance and resources.

MILITARY PAY ISSUES (READ YOU LES)

This program is designed to inform participants of military compensation, focusing on the components of the Leave and Earnings Statement, the use of MyPay, and how to correct pay problems. It also discusses the value of the complete military compensation package. This class is highly recommended for first term personnel and spouses. (Class is 1 hour)

FINANCIAL PLANNING FOR DEPLOYMENT

Planned and unplanned deployments are a fact of Navy life. This program provides participants with information to help them prepare financially for an extended deployment. Participants will learn strategies to manage their finances, cost savings tips for communication and resources for assistance while deployed.

(Class is 1 hour)

MARRIAGE AND MONEY

Finances are the number one reason for divorce. Learn how to talk with your spouse and work out financial issues. Most couples have two different money personalities in the relationship. Learn your money personality and how to work with it in your relationship instead of against it.

(Class is 1 hour)

RAISING FINANCIALLY FIT KIDS

Parents, learn effective ways to teach your kids about money and talk to them about saving and budgeting. Money doesn’t have to be a taboo subject. Learn age appropriate financial discussions and teach them responsibility. Learn effective ways to show them money management skills and prepare them to “leave the next financially fit”.

(Class is 2 hours)

CHARGING YOUR WAY TO GOOD CREDIT (CREDIT MANAGEMENT)

Planning on buying a car, furniture, jewelry, or other “big ticket” item? How about those pre-approved credit card offers? Getting and keeping credit is just as important as getting a good price and good after-the-sale service. Learn about credit reports, how to shop effectively for credit, and how to pay it off early. This class is recommended for all.

(Class is 1 hour)

THE SAVVY CONSUMER – CONSUMER AWARENESS

Which describes you best – savvy consumer, totally clueless, or something in between? With so many offers, schemes, and “deals” out there, we all need a good understanding of the risks, pitfalls, and long-term damage that can come when we sign on the dotted line. Learn about making sound buying decisions, combating fraud and rip-offs, and your legal rights as a consumer. Learn of the dangers of identity theft, how to handle it and how to prevent it. When it comes to spending your hard-earned money, knowledge is power! This class is recommended for all.  (Class is 1 hour)

SURVIVING THE HOLIDAYS

Prepare yourself for the holidays.  Learn ways to celebrate the season without breaking the bank. Already overspent and used up those credit cards? Learn effective ways to recover from the holidays and regain control of your spending before it’s too late. Offered during the holiday season. (Class is 1 hour)

CAR BUYING STRATEGIES

Don’t let buying your dream car become a nightmare. There’s a lot more to it than just kicking the tires and making an offer. Learn how to do your homework, how to get the best price, find the best deal on financing, and what to do about your old car. This class is highly recommended for those purchasing their first car.

(Class is 1 hour)

RENTING

This workshop is suitable for all potential renters. It is designed to increase the knowledge and comfort level of first time renters and to serve as a refresher for repeat renters. Learn what to look for, know what you can afford and learn the importance of inspections and insurance as well as much more.

(Class is 2 hours)

HOME BUYING 101

Buying a home is still the American dream. But do work like “points”, “loan origination fee” or “escrow” sound like a foreign language? Learn how to determine your price range, how to select a real estate agent, and how to choose the best financing plan. Learn about the market in the area, VA home loan guarantee and Cal-Vet options. This class is recommended for all with emphasis on members new to the area.

(Class is 1 hour)

THE INSURANCE DECISION

This workshop will teach the differences between life insurance options, the need for renters insurance, the choices and how to shop for auto and basic insurance. Other topics include deductibles, how much insurance is needed and the elements of insurance. Recommended for all, with emphasis on first term members and newly married persons.

(Class is 1 hour)

MILLION DOLLAR SAILOR

This two-day class is designed for junior Navy personnel who will learn about proper budgeting techniques, credit management, savings and investment options, insurance needs, military pay and allowances, consumer rip-offs, how to obtain a loan, and new and used car purchasing techniques. (Class is 8 hours)

RETIREMENT PLANNING

What will your retirement years be like? Will there be enough income to live comfortably? Research shows that you’ll need more than just your military retirement and social security to get by. Learn how to make decisions now, to ensure your retirement funding needs are met in the future. This class is recommended for all, with emphasis on those approaching retirement.

(Class is 1 hour)

SMOOTH MOVE

Relocating due to a permanent change of station (PCS) assignment is exciting, but can be expensive. Even though the government provides relocation allowances many families find a move puts a definite strain on their budget. This workshop provides information on travel pay and allowances, financial planning, expected expenses, money saving tips and resources available to assist with the move.

(Class is 1 hour)

PAYING FOR COLLEGE

This workshop provides information on funding for higher education, focusing on financial aid resources, college savings plans and tax incentives. Learn about financial aid and how to submit a FAFSA, scholarship information, including local schools, discover student loan options and learn more about the GI Bill. Learn more about the 529 and Coverdell college savings accounts, CAL Grant and information tailored to the local area. This class is recommended for members, spouses and high school students.

(Class is 1 hour)

SURVIVOR BENEFIT PLAN (SBP)

One of the most important aspects of financial planning is the ability to provide for a survivor or survivors in the event of a wage-earner’s death. People rely on several different types of tools to help insure continuing income for their survivors ranging from personal assets to life insurance to social security. The SBP is one of those elements.

This program is designed for military members approaching retirement and their spouses. The purpose of this program is to provide basic information on the key provisions of the Survivor Benefit Plan (SBP). This information will assist service members and their spouses in making informed decisions about SBP’s role in their retirement plan.

(Class is 2 hours)

COMMAND FINANCIAL SPECIALIST (CFS) TRAINING

This course covers money management strategies, pay & allowances, legal aspects of personal finances, consumer awareness, credit management, savings & investments, car buying, referral resources, financial counseling and communication skills and command PFM program development.

This course is designed for command members who are E-6 and above, are financially stable, and highly motivated. They must have at least one year remaining on board. Course completion will earn them a certificate for the command to designate them as a Command Financial Specialist (CFS).

(Class is 5 full days)

COMMAND FINANCIAL SPECIALIST (CFS) FORUM

This forum is held quarterly for current designated CFS’s. As required by the Opnavinst 1740.5b, this forum will provide a framework for CFS’s to network amongst each other, get new information, go over hot topics of interest, receive materials and discuss problems or concerns they have or are seeing. This forum is recommended for designated CFS personnel.

(Class is 2 hours)