Photo By Sgt. Douglas Simons | Service members pose with Navy Federal Credit Union towels during a Personal Financial...... read more read more
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Service member participated in a Personal Financial Management course June 6-10 on Camp Foster.
The course provided a wealth of knowledge to the service members to help them be financially smart and stable according to Gene De Freitas, financial counselor for Marine Corps Community Services.
“We taught them how to be more proactive, than reactive,” said De Freitas. “If something happens, you want to be financially prepared to handle whatever it is, and preparing starts now.”
The class covered topics such as military pay issues, consumer awareness, debt management, car buying strategies and more.
An outstanding debt can affect a service member more than he or she may know, according to Anthony Green, personal financial management specialist for Camps Hansen and Schwab.
“Marine Corps order 1700.37 states that E-4 and below should have a maximum of 30% debt-to-income ratio,” said Green. “If they go beyond that, they can lose their security clearance and so many other things. Careers are being ended because they can’t manage their money.”
Too much debt can affect a service member’s home life also, according to Green.
“Financial problems are the number one reason for divorce,” said Green. “By doing these classes, they can be financially free and understand how to use their money to achieve their goals.”
To find more information about the how to find a class, visit www.mccsokinawa.com/personal_financial_management/
| Date Taken: | 06.07.2016 |
| Date Posted: | 06.07.2016 21:04 |
| Story ID: | 200291 |
| Location: | CAMP FOSTER, OKINAWA, JP |
| Web Views: | 67 |
| Downloads: | 1 |
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