FLeet Activies Sasebo hosts Million Dollar Sailor Seminar

Photo By Petty Officer 1st Class Joshua Hammond | Norman Okada, Personal Financial Management Specialist, leads Sailors in the Million Dollar Sailor (MDS) Seminar at Commander Fleet Activities Sasebo. MDS is a program that specifically combats common financial issues facing sailors and their families. U.S. Navy photo by Mass Communication Specialist 1st Class Joshua Hammond (Released)  

SASEBO, NAGASAKI, JAPAN

01.23.2014

Story by Petty Officer 1st Class Joshua Hammond 

Navy Public Affairs Support Element Japan

SASEBO, Japan – Commander, Fleet Activities Sasebo’s (CFAS) Fleet and Family Support Center (FFSC) hosted a Million Dollar Sailor (MDS) seminar Jan. 22-23.

In an effort to establish better saving habits to prepare for their financial future, sailors assigned to various commands at Fleet Activities Sasebo took advantage of a training opportunity designed to increase their financial awareness.

"The two day event teaches people how to manage their money responsibly," said Norman Okada, a FFSC Personal Financial Management Specialist at CFAS. "We start with managing your LES [leave and earnings statement] and work through wealth building."

MDS is a component of the Personal Financial Management Program created to specifically combat common financial issues facing sailors and their families by providing them with sound financial management skills that can be used over their lifetime.

The course covered 10 modules including military pay, money management, consumer awareness, insurance, credit management, car and home buying, banking and financial services, savings and investing, retirement planning, and the Thrift Savings Plan designed to educate sailors on navigating through various financial situations.

" Before this class money to me was expendable," explains Master-at-Arms 3rd Class Kayla Brookman, "Besides managing my checking and savings account I didn’t know anything about money management. This class made me realize that I need to be more responsible with my money."

Sailors received additional FFSC resources and tools to help them build future wealth and emergency savings, lower personal debt, and increase mission readiness.

The MDS course also provided training focused on increasing financial awareness, developing skills in managing personal finances, and enhancing the quality of life of sailors and their families.

"I’m hoping that many of our service members will leave the military being prepared," said Norman. “Only 17 percent of service members retire from the military and we want to fight financial illiteracy.”

"I’m getting out of the Navy in a year and I’m really glad that I took this course,” Brookman said. “I now know where I am and where I want to be with my money."

• Date Taken: 01.23.2014
• Date Posted: 01.23.2014 23:52
• Story ID: 119577
• Location: SASEBO, NAGASAKI, JP