Air Force

July 11, 2014

The power of the Military Consumer

Glenn Arola
Airman and Family Readiness Center

Due to the recent trends and the financial challenges of military life, the Department of Defense has teamed up with the Federal Trade Commission, who has partnered with other organizations to form the Military Consumer, a campaign to empower you the consumer to be informed and promote financial readiness.

It officially starts July 16 and will be named Consumer Protection Day, but unlike the other campaigns, it is indefinite and permanent.

The reason for this is simple: Everyone needs to be armed with all the financial information and take the right financial actions to maintain a high state of financial readiness, not only during your time in the armed services, but many years after that.

The average life span today due to ever improving medical technology is approximately 86 years old. So if you don’t have a financial plan or have one that lasts until age 77, best you have children because you will end up living with them!
Our financial condition is in direct correlation to our vulnerability to fraudulent actions and scams.

Here are some alarming facts taken from the Military Consumer Protection Day Concept Paper dated June 12, 2014.

  • During the past 12 months, 43 percent of service members experienced a financial shortfall
  • 21 percent of E-1s to E-4s have no emergency savings and 9 percent have less than $100 in emergency savings
  • Thirty-three percent of service members describe their financial situations as difficult and 20 percent describe their situation as worse than 12 months ago.

In 2013 the Federal Trade Commission received more than 72,900 complaints from military consumers. Identity theft was at the top of the list with more than 22,000 complaints.

There are many resources brought on by this initiative. More than 30 federal, state and municipal agencies, consumer advocates and military support organizations are involved and willing to serve you. What you have to do is simple – get involved! Help spread the word by visiting Military Consumer (www.military.ncpw.gov)†and supporting the campaign; find and share information about avoiding scams, investing wisely and fighting identity theft; download or order free educational materials, and subscribe to the blog to stay connected.
As an ongoing effort for this month to promote the new program, we have acquired much needed materials and literature so individuals and organizations can come down and pick them up for the units. We are able to brief many financial topics for commanders calls, training days and other needed events. At the Airman and Family Readiness Center, we have ongoing assistance through the Personal Financial Management Program. Each branch of service offers prevention education, financial counseling, debt liquidation assistance and consumer advocacy programs.

To find a local program, contact the Military One Source at (800) 342-9647 to schedule an appointment with a financial counselor. The same services are offered at the AFRC.

Additionally, AFRC offers financial counseling services to DOD civilians.
To see a financial counselor at the AFRC call (661) 277-0723. Two excellent ways to get on the path to financial success.

Get financially savvy today!




All of this week's top headlines to your email every Friday.


 
 

 
Air Force photograph by Chris Higgins

412th Test Wing 1st Quarter Award Winners

Air Force photograph by Chris Higgins Brig. Gen. Carl E. Schaefer, 412th Test Wing commander, watches Jeanette White, 412th Civil Engineering Group, absolutely smash a foam baseball into the audience after accepting her 30-year...
 
 

News Briefs May 22, 2015

North Gate safety alert SAFETY ALERT! Due to mechanical issues with the North Gate, there have been large metal plates installed over gaps in the roadway while repair operations are being scheduled. Drivers should exercise caution and reduce speeds in these areas. In inclement weather and blowing dust, the plates may become slippery and vehicles,...
 
 
MG-appointments

Don’t be a no show

The 412th Medical Group is dedicated to meeting the health care needs of you and your family by providing access to its services and the best possible medical care. No shows are a costly problem for the 412th MDG and the patie...
 

 
Air Force photograph by Brad White

Team Edwards hosts Military Retiree Appreciation Day

Air Force photograph by Brad White Approximately 400 military retirees, their families and surviving spouses were in attendance during the 2015 Military Retiree Appreciation Day event held at the Oasis Community Center and 27 i...
 
 

Education Center Open House May 27

The Edwards AFB Education Center will be hosting an Open House†that will be open to all military and their family members, and civilians working on Edwards 11 a.m.-1 p.m., May 27. The Education and Training†Center is located on 140 Methusa Ave., Bldg. 2453. Attendees will have the opportunity to speak with the Ed Center staff...
 
 

Excellence in Aviation Award banquet set for June 13

The Flight Test Historical Foundation will hold the 5th annual Excellence in Aviation Awards banquet June 13. This year’s honorees are the California Air National Guard’s 163rd Reconnaissance Wing from March Air Reserve Base. The wing operates the remotely piloted MQ-1 Predator aircraft built by General Atomics Aeronautical Systems. For the first time in the...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>