Air Force

October 18, 2013

Airman, family readiness center provides services to ensure financial stability

Airman 1st Class Jason Couillard
99th Air Base Wing Public Affairs

NELLIS AIR FORCE BASE, Nev. — Installation commanders are providing seminars, activities and education events to all Airmen and Department of Defense civilian employees in order to emphasize the importance of financial resilience.

The ultimate aim of the program is to make achievable recommendations to Airmen and their families, on how they can be encouraged to save and manage their finances for the long term.

“Largely, we are not doing enough as a whole to prepare our [children] to handle their finances responsibly,” said Maj. Gen. Jeffrey Lofgren, United States Air Warfare Center commander. “We don’t teach finances in our schools, and it’s not a required class for most degrees in college. For the most part, it is left up to the individual to learn proper financial management skills on his or her own. The complexity of our economy makes it even harder to do that.”

Due to the government shutdown, the financial resilience seminar that was scheduled for Oct. 2 was cancelled. Although there are limited outlets for Airmen to learn about finances, there is still a need for them to take the initiative to learn how to save money. A large problem among Airmen is credit card debt.

“Although credit stimulates the economy, credit is not money,” said Quan Franklin, 99th Force Support Squadron community readiness specialist. “Credit needs to be used judiciously. Many Airmen and their families are using credit for everyday purchases and basic living expenses which sometimes lead to overspending.”

Airmen usually have to learn how to properly manage their finances on their own. The Nellis Airman and Family Readiness Center can inform Airmen about financial problems through courses they offer.

“[The Airman and Family Readiness Center] offers a variety of financial classes and workshops to assist Airmen and their families in managing their finances,” Franklin said. “We offer classes on budgeting, savings, investing, credit and goal setting just to name a few. We also offer one-on-one financial consultation geared toward members’ individual financial situation. Our goal is to help members and their families maintain financial readiness and build resiliency by providing financial services to Airmen and their families.”

The key to budgeting is proper planning. Knowing what your finances look like is important to reach financial goals. Airmen should avoid putting themselves in a situation where they overspend.

With the holidays are right around the corner, Airmen might be tempted to buy gifts on their credit cards, which can lead to an increased amount of debt if not handled properly.

“Airmen tend to overspend by charging many of their gift purchases to their credit card,” Franklin said. “Airmen should be careful during the holidays of stores and malls offering special pricing and discounts on items in order to lure people to open new lines of credit.”

Many Airmen do not know consequences associated with having poor finances. According to the Uniform Code of Military Justice, Article 134 states that dishonorably failing to pay debt has a maximum punishment of a bad conduct discharge, forfeiture of all pay and allowances, and confinement for six months.

“All Air Force personnel are expected to satisfy their financial obligations in a proper and timely manner,” said Master Sgt. Ashika Dyson, 99th Comptroller Squadron first sergeant. “It is imperative for members to seek help before they find themselves in serious financial hardship. Supervisors and First Sergeants will refer members to appropriate base agencies to assist, when it is brought to their awareness. As for Commanders, they will consider whether administrative or disciplinary action is appropriate when dealing with member’s financial irresponsibility’s.”

AFI 1-1 outlines failure to satisfy just financial obligations is not consistent with the standards of conduct expected of Air Force members. This is why it is important to maintain good finances.

Airmen are reminded that there are resources available to help. The A&FRC will be offering a Lunch and Learn Class on “Savings for the Holidays and Tips to make your Holiday great while staying on a Budget.” This class is being offered on Nov. 6 and is offered at 12 p.m. through 1 p.m. Members are also welcome to join the Airman and Family Readiness Center for a Lunch and Learn on Debt Management: The Power of Powerpay.org, which is being offered at on Nov. 13, from 12 p.m. to 1 p.m.

To register for classes and more information on future personal financial management classes, contact the A&FRC at (702)-652-3327.




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


 
 

 

Pulse on AF force management

WASHINGTON — New eligibility criteria, application deadlines and status updates are all featured in this force management update, an ongoing effort to bring Airmen the latest, most accurate information concerning the complex and dynamic force management programs. Additional TERA, VSP windows The Air Force will open two new fiscal year 2014 temporary early retirement authority...
 
 

AF opens additional TERA, VSP windows

JOINT BASE SAN ANTONIO-RANDOLPH, Texas — The Air Force will open two new fiscal year 2014 force management temporary early retirement authority application windows, and a new voluntary separation pay application window, Air Force Personnel Center officials said April 14. Commonly referred to as the 15-year retirement, TERA eligibility will be based on the updated...
 
 
U.S. Air Force photo by Airman 1st Class Timothy Young

Military children receive support during hardships

U.S. Air Force photo by Airman 1st Class Timothy Young Tech. Sgt. Mike Hodges, 99th Medical Operations Squadron respiratory therapy technician, holds a horse while Anders Steinhiser, Lomie G. Heard Elementary School 1st grade s...
 

 

Air Force budget focuses on preserving capability, not aircraft

WASHINGTON — The debate over force structure reductions outlined in the Air Force’s fiscal year 2015 budget should be about capabilities and missions, not aircraft, Air Force Chief of Staff Gen. Mark A. Welsh III told the Senate April 10. Testifying alongside Secretary of the Air Force Deborah Lee James at a hearing of the...
 
 

AF Portal hosts free civilian development site

JOINT BASE SAN ANTONIO-RANDOLPH, Texas — Air Force civilian employees can go to the Air Force Portal for free career development tools, tips and guidance, Air Force Personnel Center officials said. The Civilian Development Resource Center, formerly the Supervisor Resource Center, now offers self-development tools for supervisory as well as non-supervisory career tracks. The site provides ro...
 
 
U.S. Air Force photo by Senior Airman Jason Couillard

Top AF leaders speak at Nellis AFB

U.S. Air Force photo by Senior Airman Jason Couillard Chief Master Sgt. of the Air Force James A. Cody speaks to Airmen April 7 during a town-hall style meeting at Nellis Air Force Base, Nev. Cody, along with Air Force Chief of...
 




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