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.


 
 

 
140717-F-JB386-793

99th FSS in overdrive during Red Flag

U.S. Air Force photo by Staff Sgt. Siuta Ika Senior Airman Darren Tomas, 99th Force Support Squadron food services journeyman, chops lettuce at the flight line kitchen Nellis Air Force Base, Nev., July 17. The 99th FSS kitchen ...
 
 

Air Force announces changes to headquarters organization

WASHINGTON — Air Force leaders announced changes to headquarters staff manning and organization July 14. The Air Force will create efficiencies by deactivating and realigning organizations at Headquarters Air Force, Major Commands, Numbered Air Forces and Field Operating Agencies, resulting in savings of $1.6 billion across the Air Force in the next five years. “I...
 
 
U.S. Air Force photo by Staff Sgt. Siuta B. Ika

I am second: USAFWC command chief bids farewell after 30 years

U.S. Air Force photo by Staff Sgt. Siuta B. Ika Chief Master Sgt. Robert A. Ellis, U.S. Air Force Warfare Center command chief, poses for a photo outside of the U.S. Air Force Warfare Center headquarters building at Nellis Air ...
 

 
U.S. Air Force photo by Master Sgt. Robert Valenca

Nellis to add another large solar plant

U.S. Air Force photo by Master Sgt. Robert Valenca The solar field, comprised of more than 72,000 panels, was completed after 26 weeks of construction and three years of planning. The array is expected to produce more than 25 p...
 
 
creech5

Combat challenge 2014

U.S. Air Force photo by Airman 1st Class Christian Clausen Master Sgt. Kiosha Mitchell, 432nd Wing Commander’s Executive Administrations superintendent, left, and Capt. Bishane, 432nd Wing commander’s action group chief, fl...
 
 
U.S. Air Force photo by Airman 1st Class Rachael Loftis

Sports bring esprit de corps to Nellis community

U.S. Air Force photo by Airman 1st Class Rachael Loftis Intramural sports are a good way to take control of one’s fitness. Participating in intramural sports offers active duty, dependents and retirees the opportunity to comp...
 




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