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The Personal Financial Readiness (PFR) Program is a comprehensive initiative designed to equip individuals with the knowledge and skills needed to manage their finances effectively. It encompasses various educational resources, workshops, and counseling services to address key aspects of personal finance, including budgeting, saving, investing, and debt management. The program aims to enhance participants’ financial literacy and empower them to make informed decisions to achieve their short-term and long-term financial goals. Whether it’s navigating the complexities of taxes, understanding credit, or planning for retirement, the Personal Financial Readiness Program strives to foster financial well-being and resilience among its participants.
The first component of the Personal Financial Readiness (PFR) program focuses on education and training, providing military personnel and their families with a solid foundation in financial literacy. Through workshops, seminars, and accessible resources, individuals learn essential skills such as budgeting, saving, investing, and understanding financial instruments. This educational initiative aims to empower service members to make informed and responsible financial decisions throughout their military careers and into civilian life, fostering a culture of financial competence and stability.
The second component of the PFR program centers on personalized counseling and assistance. Through one-on-one financial counseling sessions, trained experts address individual financial challenges, offering guidance on debt management, credit improvement, and other specific concerns. This tailored approach ensures that military personnel receive targeted support based on their unique circumstances, promoting proactive financial decision-making and helping them navigate the complexities of their financial journey with confidence.
The third component of the PFR program involves proactive outreach and comprehensive support services. Through various channels such as online platforms, community workshops, and partnerships with financial institutions, the program actively engages with military communities. This outreach provides valuable resources, tools, and information to foster ongoing financial success. By creating a supportive ecosystem and facilitating access to relevant financial services, the program aims to strengthen the financial resilience of military personnel and their families, ensuring they have the necessary support to navigate their financial challenges effectively.
Learn the basics of pay, savings, banking, and avoiding scams. It’s your foundation for future financial health. 💪
📌 Tip: Start a budget and open a savings account!
Create a realistic budget, understand BAH/BAS, and review your LES carefully.
📌 Tip: Ask about moving entitlements and allowances!
Avoid lifestyle inflation! Use extra income to pay down debt or build savings.
📌 Tip: Consider increasing your TSP contributions.
Marriage impacts taxes, housing, and insurance. Combine finances thoughtfully and update your DEERS info!
📌 Tip: Build a shared budget with your spouse.
Budget for medical bills, childcare, and supplies. Update SGLI, DEERS, and wills.
📌 Tip: Look into the Family Subsistence Supplemental Allowance (FSSA).
Revisit your budget, update beneficiary designations, and review legal agreements.
📌 Tip: Get free legal and financial counseling on base.
Plan ahead! Know your entitlements, make a spending plan, and save receipts.
📌 Tip: Use the PCS Budget Worksheet available at your M&FRC.
Set up allotments, review insurance, and give a trusted person financial POA.
📌 Tip: Save extra income from deployment entitlements!
Reevaluate your budget, pay off debt, and save any leftover deployment income.
📌 Tip: Don’t rush into big purchases!
Have an emergency fund, review insurance coverage, and know your medical entitlements.
📌 Tip: Reach out to a PFC for planning help and benefit navigation.
Create a civilian budget, understand separation entitlements, and attend TAP.
📌 Tip: Review VA disability, TSP options, and SBP decisions.
Seek grief support and help with survivor benefits. Update your records.
📌 Tip: Talk to a CAR/CACO and request a financial counseling referral.
Explore SGLI, VA disability, SSDI, and your base’s EFMP office.
📌 Tip: Build a plan for long-term financial care with a PFC.
Plan ahead for unemployment, update your resume, and tap into transition benefits.
📌 Tip: See a TAP counselor and financial advisor ASAP.
Offers emergency assistance, education support, and community programs to Airmen and Guardians.
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Provides interest-free loans and grants for emergencies, education, and basic living expenses.
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Supports Coast Guard families with emergency loans, grants, and special programs.
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Helps Soldiers and their families with financial assistance for rent, utilities, PCS, and more.
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Learn about all branch-specific relief organizations in one place.
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Works with service relief societies to provide 24/7 emergency financial help anywhere in the world.
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Provides short-term financial assistance and long-term support for military families in need.
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Assists post-9/11 veterans, service members, and families facing financial hardship.
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Grants up to $1,500 for qualifying military families to help with basic life needs during financial crises.
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Click on the images below to learn more.
CFPB – Budget for Servicemembers and Veterans
Office of Financial Readiness (FINRED)
FINRED – Spending Plan Worksheet
FINRED – Financial Well-Being Assessment
Consumer Financial Protection Bureau (CFPB)
Federal Trade Commission (FTC)
FINRED – Understanding Consumer Protections
CFPB – Your Money, Your Goals: A Financial Empowerment Toolkit
MilLife Guide – Controlling Debt
US Dept. of Education – College Affordability and Transparency Center
Military Consumer – Buying a Home
Military Consumer – Renting an Apartment or House
MilLife Guide – Housing & Living
Smart Asset – Mortgage Calculator
FINRED – Knowing Your Benefits and Entitlements
FINRED – Sen$e Financial Education App
Military Compensation and Financial Readiness
843-963-8883
The utilization of non-government websites within our website does not imply nor intend any federal endorsement.
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