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.


 
 

 
U.S. Air Force photo by Airman 1st Class Mikaley Towle

57th AMXS TSgt saves AF $5 million

U.S. Air Force photo by Airman 1st Class Mikaley Towle Tech. Sgt. Dennis Hertlein, 57th Aircraft Maintenance Squadron Viper Aircraft Maintenance Unit specialist expediter, poses in front of an F-16 Fighting Falcon at Nellis Air...
 
 

NTTR supports first F-35B integration into USMC’s weapons school exercise

NELLIS AIR FORCE BASE, Nev. — The Nevada Test and Training Range was part of history April 21, when four U.S. Marine Corps-assigned F-35B Lightning IIs participated in its first Marine Corps’ Final Exercise of the Weapons and Tactics Instructor course on the NTTR’s ranges. The Final Exercise, or FINEX, is the capstone event to...
 
 

April is America’s PrepareAthon month

NELLIS AIR FORCE BASE, Nev. — Everyone plays an important role in bolstering our preparedness for hazards of all types. The Federal Emergency Management Agency has launched the “America’s PrepareAthon” campaign to build and sustain national preparedness. Thousands of individuals, organizations, schools, and local governments across the nation are actively participating in America’s Pr...
 

 

Who has heard of Special Victims’ Counsel?

NELLIS AIR FORCE BASE, Nev. — When I first briefed the Special Victims’ Counsel Program at Right Start and First Term Airman Center briefings here, audience participation was slim to none. It appeared as though the group I briefed was not interested in learning more about our program or that they didn’t know anything about...
 
 
U.S. Air Force photo by Scott M. Ash

AF top leaders hold event for Sexual Assault Awareness, Prevention Month

U.S. Air Force photo by Scott M. Ash Air Force senior leadership locks arms with members of the Air Staff who lined the Arnold Corridor in recognition of Sexual Assault Awareness and Prevention Month, in the Pentagon April 20. ...
 
 

Presidential Volunteer Service Award winners recognized

Col. Robert Ramsden, 99th Air Base Wing vice commander, poses with the Presidential Volunteer Service Award bronze category winners during the civilian volunteer appreciation ceremony held at The Club on Nellis Air Force Base, Nev., April 16. The Presidential Volunteer Service Award was given to individuals who completed 100 to 249 hours of volunteer service...
 




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>


Directory powered by Business Directory Plugin