Air Force

May 17, 2013

Financial resiliency: Getting Airmen from red back to green

Tags:
Airman 1st Class Monet Villacorte
99th Air Base Wing Public Affairs

According to Air Force Instruction 36-2906, Personal Financial Responsibility, consequences for financial irresponsibility may lead to involuntary allotments made on behalf of the creditor or garnished pay. With the help of resources such as classes and workshops held by the Airman and Family Readiness Center, counteracting and even preventing finances from becoming an issue is the first step to financial freedom.

NELLIS AIR FORCE BASE, Nev. — With the new expenses of being a first term Airman at Nellis such as car notes, rent and the alluring Las Vegas strip, managing one’s money may be difficult but is essential to being a financially resilient person.

Financial resiliency is the ability to cover the expenses of life events whether they are negative or positive. Negative being the loss of a job or income and positive being an increase in family size.

One area Airmen may struggle with is budgeting.

“Budgeting is the biggest financial issue Airmen face today,” said Quan Franklin, Airman and Family Readiness Center community readiness specialist. “The cause of this issue is the fact that they tend to spend money beyond their means. With Las Vegas being a prime vacation and tourist spot, family and friends visit, and people want to take them out and show them a nice time. They end up taking their guests downtown and spending money or gambling.”

Although budgeting is a growing issue with Airmen, learning to set aside a few dollars a month can help establish a savings and emergency fund which can help with unanticipated situations.

“A lot of people don’t have an emergency fund established so they need to know how they can establish and start one,” Franklin said. “There will always be some type of unforeseen circumstance that happens, that’s why it’s important.”

Setting up allotments, which is a designated amount of money from your pay that is automatically distributed for you, or payment plans may also be a good way to eliminate debt.

“Personally, I have an allotment set up that is for my spending money, “said Tech. Sgt. Sandra Sauceda, 99th Comptroller Squadron deputy of financial services. “That money goes to a certain bank and that is what I use for the whole month to spend.”

According to Air Force Instruction 36-2906, Personal Financial Responsibility, consequences for financial irresponsibility may lead to involuntary allotments made on behalf of the creditor or garnished pay.

With the help of classes and workshops held by the AFRC, counteracting and even preventing finances from becoming an issue is the first step to financial freedom.

“We encourage people to come in before there is a financial issue,” Franklin said. “We do offer one-on-one consultations, various workshops and classes. People just have to take that first step to come in.”

Another resource Airmen can use to get useful information and tips on managing their finances is www.militaryonesource.mil.

Military One Source is a free program providing comprehensive information on every aspect of military life at no cost to active duty, guard and reserve service members, and their families. Information includes, but is not limited to finances, deployment, relationships, grief, spouse employment and much more.

For more information on financial resiliency, classes and workshops call the AFRC at 702-652-3327 or Military One Source at 1-800-342-9647.




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


 
 

 
raptor

Raptor pilots reach 1,000 flight hours in F-22

U.S. Air Force photo by Senior Airman Joshua Kleinholz Majs. Ethan Waitte and Thomas Borrego, 422nd Test and Evaluation Squadron pilots, stand with Lt. Col. Matt Allen, 422nd TES F-22 Raptor test director, after returning from ...
 
 
U.S. Air Force photo by Airman 1st Class Christian Clausen

Creech Airmen showcase RPA at Canadian airshow

U.S. Air Force photo by Airman 1st Class Christian Clausen Senior Airman Kaitlyne LaRocque, 432nd Aircraft Maintenance Squadron MQ-1 Predator crew chief, left, and Staff Sgt. Craig Stewart, 432nd AMXS MQ-1 crew chief, prepare a...
 
 
U.S. Air Force illustration by Airman 1st Class Mikaley Towle

Think before you drink: LVAADD saves careers, lives

U.S. Air Force illustration by Airman 1st Class Mikaley Towle Las Vegas Airmen Against Drunk Driving is an all-volunteer organization made up of Airmen from Nellis and Creech Air Force Bases who volunteer their time to help ens...
 

 
U.S. Air Force photo by Airman 1st Class Rachel Loftis

Airman uses passion to restore ‘survivor’ car

U.S. Air Force photo by Airman 1st Class Rachel Loftis Airman 1st Class Thomas Kelly, 99th Comptroller Squadron customer service technician, stands next to his car “Fury” on Nellis Air Force Base, Nev., July 27. Kelly grew ...
 
 

CHIEFchat: Cody addresses new EPR form, Course 15

FORT GEORGE G. MEADE, Md. — Chief Master Sgt. of the Air Force James A. Cody addressed several topics during his latest CHIEFchat, including the new enlisted performance report and Course 15, at the Defense Media Activity here. Cody said Air Force Chief of Staff Gen. Mark A. Welsh III handed off the task of...
 
 
RF2

Red Flag 15-3 rolls on to week 3

U.S. Air Force photo by Airman 1st Class Rachel Loftis Senior Airman Kevin Raver, a fuels apprentice assigned to the 97th Logistics Readiness Squadron, Altus Air Force Base, Okla., fills out paperwork after refueling an EA-18G ...
 




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=""> <s> <strike> <strong>