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Personal Finance Management

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The financial education program provides consumer information, referrals, and counseling that emphasize long-term financial responsibility to military members and their families. Assistance is given through classes on sound money management, debt reduction, savings, insurance, deployment, investing, retirement planning, and individualized counseling.

Credit Management
How do credit cards determine monthly finance charges? What is a grace period, annual fee, APR? If you have always wanted to know and never had the time to investigate, this is the class for you. Not only will we discuss the common fees associated with credit cards but also the hidden ones as well. We also discuss the importance of credit reports and scores, how to get and correct them, and where to go to get credit help.

Home Buying Strategies
If you’re not an expert on property values, financing, or tax and real estate law and your life savings are on the line, not understanding what is involved in buying a home can be scary. This course teaches the basics of home buying, the associated costs, unfamiliar terms, and the important players involved in the process. 

CSB/Redux Retirement Decision
During your 14th year of active duty service you are given the option to select your military retirement plan. The decision is irrevocable and will greatly affect the amount of retired pay you receive over your lifetime. This class compares your retirement options so you can make a more informed decision on which is better for you.

Financial Planning for First Termers
This course provides basic money management information to help first term service members in handling their everyday finances. Topics covered include understanding your Leave and Earnings Statement, developing a spending plan, saving strategies, the Thrift Savings Plan, credit card issues, and social security benefits.

Money Management for Life
This class investigates spending plans, credit card fees and credit ratings, types of insurance, basic estate planning tools, and investment strategies

Mutual Fund InvestmentsLearn the advantages and disadvantages of mutual fund investments, the fees and expenses associated with this type of investment, the types of funds out there, how to choose the one that “fits” you, and what investment vehicles to use to maximize your “nest egg”.

Thrift Saving Plan (TSP)
Learn how the military’s TSP program can help you not only reduce your taxable income but also grow tax deferred money for your retirement. This class provides an overview of the basic rules and investment options associated with the military’s TSP.

Car Buying Strategies
This class offers helpful hints and strategies to make your car buying experience much less stressful. Learn the “tricks of the trade” used by salesmen to get you to spend more as well as how to use the Internet to research actual dealer invoice prices. A must if you will be purchasing a car in the near future.

Banking and Financial Services
This class provides individual basic skills for choosing a bank and managing a checking account. It will cover the fundamentals of banking and checking, effective checkbook management, consequences of insufficient funds, and sources of help with banking complaints.

Consumer Awareness
This class focuses on deterring, detecting and defending against consumer fraud in the marketplace. Designed with the junior sailor in mind, although appropriate for all audiences, this interactive program also focuses on basic steps every consumer should take to ensure they get the most for their money.

Developing Your Spending Plan
In this program you will learn about the importance of developing financial goals and having a written plan to help you make your goals a reality. Using the Financial Planning Worksheet, a comprehensive financial planning tool, you will learn how to measure your wealth by calculating net worth, account for all of your income, document living expenses, and detail your indebtedness. You will also learn easy ways to improve your cash flow, reduce unnecessary living expenses and pay off debt, and know where to go for help.

Surviving the Holidays
Many of us greet the holiday season with a mixture of delight and apprehension.We look forward to celebrating with family and friends, but worry that we will spend too much money. Families need to be careful because the holiday season often creates the spirit of giving far beyond what one they can realistically afford. Many families are still paying off last year’s holiday bills. If you struggle with holiday debt, this class will give you some advice on how to survive on a tight budget.

Your Insurance Needs
An interactive program suitable for all audiences, designed to develop knowledge and skills that will enable participants to make informed consumer decisions on the basic types of insurance, and to determine their personal need for life insurance using the life-cycle approach.

Mutual Fund Investments
If you have ever considered investing, now is the time! Every day you wait is less money made. The FFSC is offering a course on investing through mutual funds. Learn the advantages and disadvantages of mutual fund investments, the fees and expenses associated with this type of investment, the types of funds out there, how to choose the one that “fits” you, and what investment vehicles to use to maximize your “nest egg”.

Raising Financially Fit Kids
At the heart of teaching children about money are the financial behaviors of the parents. Parents will explore their own financial habits and skills, and learn techniques to teach their children sound financial management skills. The majority of the program focuses on financial skills, habits and values.

Marriage and Money
Of all of the intimacies shared by couples, the sharing of money sparks the most arguments, resentment, and confusion. This class offers insight into how people view money and how it affects relationships. It covers money messages from the past, the differences among males and females in their attitudes towards money, ways in which money is used as a power play in a marriage, and the motivations and meanings behind people’s want of money.

Million Dollar Sailor Program
Million Dollar Sailor targets many of the current financial challenges that face our Navy personnel and their families including security clearance issues, credit management, identity theft, bankruptcy, mortgage and foreclosure issues, government credit card abuse and the multiple issues involving Internet buying and selling. Million Dollar Sailor (MDS) is a two-day training designed to assist Sailors and their families to successfully navigate through the transitions of Navy life and the financial challenges that accompany them. The Million Dollar Sailor Program provides a comprehensive overview of steps to enhance personal financial fitness. 

Last modified 02/09/2012

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