Personal Financial Management in a Transition

9. Resources for Fixing Money Problems

Military Relief Societies (now, before you go – and – Retirees)

Money calculators and education PowerPay.org from Utah State Extension

Other sources of assistance

Now may be a good time to pick up positive habits, and make adjustments and corrections while you have time and focus on your transition

2

www. aerhq. org

http://riamwr.com/ACS/emergency-relief(309) 782-0829 1-877-882-0523

Red Cross Call Center1-877-272-7337

Navy / Marine Corps ReliefAir Force Aid Society

Relief Societies

Prevent privation for a short term: food; rent or mortgage; utilities;

essential POV payment, gas, insurance; non-receipt of pay; emergency travel; emergency medical; fire & theft.

Title 10 Active Duty Soldier with concurrence of Commander or 1SG

Spouse with POA; or

sponsor’s permission

Getting a handle on Money Past

A. Enter the creditor information into the matrix:

Creditor; Balance Owed; Monthly Payment; APR

B. PowerPay will automatically compare options and provide a

“pay-off calendar” for that method

www.powerpay.org

E. Without PowerPayments: treat creditors individually

= 10 Years & 8 Months

D. With PowerPayments: treat creditors as a group= 3 Years & 10 Months

F. Savings in Time & Money

C. $661.96/monthto the group

Page E

“Highest Interest First” Method = 3 Yrs 10 Mos “Shortest Term

First” Method = 4 Yrs

PowerPay! Pay your Creditors

as a group!

The Career Family is already paying

$661.96/mo to their creditors;

what method would you pick and why?

Page F

http://www.consumerfinance.gov/

http://www.illinoisattorneygeneral.gov/consumers/index.html

http://www.iowaattorneygeneral.gov/protecting_consumers/index.html

Your local base Staff Judge Advocate and Family Service Center