Financial Readiness

Location

Building 110
Phone: (309) 782-0829
DSN Phone: 793-0829
Toll-Free: (877) 882-0523

 Military Saves Week Message from DoD’s Top Leaders

 

Take the Saver’s Pledge for Military Saves Campaign at www.militarysaves.org:

• I will help myself by saving money, reducing debt, and building wealth over time.
• I will help my family and my country by encouraging other Americans to “Build Wealth, Not Debt.”

  • Financial Readiness Program
    • Personal Financial Management
      • (PFM) Specialist
    • Accredited Financial Counselor (AFC)
    • Call or Walk-in for counseling
    • Training classes and education
    • Army Emergency Relief (AER)
    • Notary Public Services
    • Resource Library with Internet Access
  • Cautionary Notes
    • You are responsible for your finances
    • This site is for informational purpose only and is not meant to constitute legal advice. The information contained on these pages is general, and the law may apply differently in specific situations

Tools You Can Use: Lessons, MS Excel Spreadsheets and Worksheets for your use

1. Net Worth Statement: Your actual score card. “It’s not the money you make; it’s the money you get to keep!” Ric Edelman.So what are you keeping? Keep track with your Net Worth Statement. Excel File    PDF File

2. Yearly Spending Plan: Calculate your non-routine expenses for the year and beyond.  Figure out what you need to do for “savings to spend.”  Excel File    PDF File

3. Debt Management List: figure out who you owe, how much you owe, what you pay per month and the annual percentage rate of the loan. This information helps you with your PowerPayments (see www.powerpay.org).  Excel File    PDF File

4a. Integrated Monthly Spending Plan or Budget: Create your Money Allocation Plan, your $ MAP.  Excel File    PDF File
4b. Bi-weekly Money Allocation Plan, $ Map or Budget: These worksheets are for employees who are paid every two weeks.    Excel File     PDF File

5. Savings to Spend: the Missing Piece of your Budget Puzzle. This file is for you to open, read and follow to learn about the 4 above.  PDF File

6. Personal Financial Management (PFM) in a Transition: Here are some worksheets for you to use so as to plan your use of time and money in a transition.
-Transition budget planning (Excel File)
-Transition budget planning (PDF File)
-Transition financial planning (Excel File)
-Transition financial planning (PDF File)

7. How Far Will Your Money Go?:  Here are some worksheets for you to use to calculate how far your money will go.  It works like a check register – as you estimate what essential items will cost, you can see the balance remaining.  These worksheets support a “Life Boat Drill.”  Just like on the ship Titanic, not everyone makes it into the life boats.  Decide and calculate what you can pay for – and what you cannot pay for, plus your next steps and who to contact.
-The “countdown” work sheet (Excel File)
-The “countdown” work sheet (PDF File)

Furlough Support

 6 Days of Furlough: A Money Calendar to assist you in planning your use of available time and money: .PDF .PPT

Financial Readiness Support for Supervisors and Organizations Due to Pending Furloughs

Financial Readiness (FR) References for Support of Supervisors and Organizations Due to Pending Furloughs

Article and Hand-out: Financial Tips for “Weathering the Furlough”

Briefing: Financial Tips for “Weathering the Furlough”

Briefing: Preparing for the Furlough: Your Lifeboat Drill

Briefing: Building Your Savings Arsenal

Article and Handout: Increase Your Income by Adjusting your Tax Withholding

RIA CPAC Furlough Hotline: (309) 782-1742;
visit the CPAC’s web page for more furlough information https://ncweb.ria.army.mil/riacpac/

2013 Money Management Calendar from U of FL Extension

Briefing: Military Saves as a Leadership Action for Furlough Preparation

Article: Prepare for the Furlough by Saving – Military Saves

Simple Do’s  & Don’ts of Surviving the Furlough

Personal Finances in a Transition:

Support for Army Career and Alumni Program (ACAP) Workshop

Section 1:  Introductions, Administration and Cautionary Notes

-Powerpoint Slides
-Finance Workshop Participants Guide

Section 2: Underlying Money Concepts – Laying a $ Foundation

-Powerpoint Slides

Section 3: Job Search Objective Elements and Tying in your Personal Financial Objectives

-Powerpoint Slides(Job search objective and PFM in a transition)
-Powerpoint Slides(Evaluate cost of living DoD TAP Mod)

Section 4: Tools of an Integrated, Transition Budget Over Time

-Powerpoint Slides(Integrated transition budget)
-Powerpoint Slides(Developing your spending plan, DoD TAP Mod)
-Financial Planning Worksheet, DoD TAP
-Integrated Spending Plan
-Annual Expenses Spending Plan(Money future)
-Creditor Debt List(Money past)
-Budget Balance Remaining Worksheet Template
-Net Worth Statement

Section 5: 12 Month Financial Planning

-Powerpoint Slides
-Financial  Planning Worksheet Checklist DoD TAP
-Transition Budget Planning Worksheet
-Transition Financial Planning Worksheet: Carry Yourself

Section 6: Decision Information to Making Insurance Decisions, Including Long Term Care (LTC), Life, Annuities, Property and Liability

- Powerpoint Slides
-SBP & Alternatives MOAA Article

Section 7: Decision Information Regarding Credit Reports and Improving your Credit Scores

-Powerpoint Slides(Credit reports and Scores)
-Powerpoint Slides(Analyze your credit report and score DoD TAP 1_2)

Section 8: Tax Planning Tools

-Powerpoint Slides(Tax planning tools)
-Powerpoint Slides(Understand how taxes change DoD TAP Mod 1_6)

Section 9: Resources for Fixing Money Problems

-Powerpoint Slides
-Sources of Help for Military Consumers, DoD TAP
-SM & Vet Financial Empowerment Resource List Consumer Action DoD TAP
-Financial Empowerment Resources on the Web Consumer Action DoD TAP

Section 10: Tools for Estimating Salary Requirements

-Powerpoint Slides(Estimating salary requirements)
-Powerpoint Slides(Salary & total comp pkg DoD TAP Mod 1_3)
-Powerpoint Slides(Employers benefits during job search DoD TAP Mod 1_4)
-Compensation Comparison Handout DoD TAP
-Compensation Package Estimation Tool

Section 11: Wrap-up and Final Questions

-Powerpoint Slides
-Action Plan Template

Counseling/Education Topics

Wealth Accumulation/Debt Liquidation Insurance & Risk Management
Tax Planning Retirement Planning
Estate Planning Consumer Affairs

Financial Readiness for Specific Life Events: college, home ownership, deployment, transition, …

The provided information is a service of the Financial Readiness Center (FRC – Contractor Supported) of Army Community Service (ACS). Clients and readers are responsible for making their own decisions on actions to take. The information presented is neither an endorsement nor any sort of recommendation. This information is not intended to replace the advice of a qualified attorney, tax adviser, financial adviser, or insurance agent. The provided information does not endorse an organization nor make guarantees. The provided information is not a recommendation; clients are responsible for making up their own decisions. This information should not be considered an exclusion of other reputable, professional organizations, products or services. Before making any financial commitment, consult the appropriate professional adviser. The information is provided only for educating readers in order to broaden their knowledge of options that may be available. For this educational purpose, the following information is provided.

Wealth Accumulation/Debt Liquidation

More info coming soon

Tax Planning

More info coming soon

Estate Planning

More info coming soon

Insurance & Risk Management

More info coming soon

Retirement Planning
Thrift Savings Plan (TSP): What’s Really In It? – a PowerPoint class on the Federal TSP
 

Retirement Planning Spreadsheet: What’s Your Number? – a briefing in PowerPoint on the ACS MS Excel Retirement Planning Spreadsheet

Retirement Planning Spreadsheet: an MS Excel spreadsheet for your use in retirement planning

Example Retirement Planning Spreadsheet: a sample for your review

Consumer Affairs

Consumer Affairs Complaint Procedures for Army Community Service (ACS) at Rock Island Arsenal (RIA)

Consumer Complaints and Assistance.  ACS RIA can assist you officially register consumer complaints.  While the main office for consumer complaint services is the garrison Staff Judge Advocate (SJA) [(309) 782-1443, ACS can assist you fill out the DA form 5184, Consumer Complaint.  Do you need help explaining your situation and desired results?  Do you desire further information on contacting the Better Business Bureau or the States’ Attorney Generals’ offices?  Need typing support?  ACS can help.

An Adobe Acrobat Reader (.pdf) file of this Army complaint form can be downloaded here.

If any local establishments are to be placed off limits, that information could be posted at this web page, plus announced in the Arsenal’s e-newsletter, The Island Insight, and other appropriate publications.

Some Consumer Affairs Web Sites are listed here for information and use.

Financial Readiness for Specific Life Events

More info coming soon

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