Financial readiness: get it right, be ready to fight
PORTSMOUTH, Va. – On March 2, 2026, Command Financial Speacialist’s (CFS) aboard Nimitz-class aircraft carrier USS Dwight D. Eisenhower (CVN 69), stood on the mess decks manned and ready to give financial advice to Sailors to help them stay aligned with mission readiness.
CFSs provide resources that are readily available to all Sailors, but are very often underutilized. They provide more than just last-minute help, and can provide personal financial counseling, specific to each Sailor’s needs.
U.S. Navy Chief Logistics Specialist Jeniel Daley helps Sailors make better financial choices every day to be mission ready.
“Million Dollar Sailor is my favorite course in the Fleet and Family Service Center,” said Daley “It is a two-day course and is a prerequisite to becoming a CFS.”
The Million Dollar Sailor course consists of all the things needed to properly guide and counsel Sailors about money management. This course is open to all Sailors so they can learn about the ins and outs of the Thrift Savings Plan (TSP), big financial changes like having a baby and getting married, as well as interest rates and investing money. Knowing as much as possible about the topic can relieve stress over funds that often affect multiple areas of life in a negative manner, while building investments and savings for the future.
If Sailors aren’t sure where to start, or have questions, the CFSs aboard IKE are where they should go for direction. They have the information for all the relief programs provided, as well as the ability to answer questions that can guide Sailors to where they need to be depending on their goals.
A common choice that negatively impacts a Sailor’s financial stability is not setting up auto pay for bills, which can cause them to be late or missed. While out to sea, it is hard to fix immediate problems when they arise, due to limited connectivity at sea. Sometimes, Sailors assign a General Power of Attorney to a spouse, family member, or friend, and come back to no money in their accounts, which could have been avoided by consulting with a CFS.
“We are not advisors, but we are counselors,” said Daley. “We are trained to counsel and educate Sailors to meet financial readiness.”
Where some people see loose change, others see the blueprint for a future treasure. This mentality can help with growth, not only in savings but also with planning for the future. For instance, the TSP can be better utilized, as often times Sailors do not update their TSP after bootcamp. Sailors can learn that their TSP can be matched up to five percent, which allows for a more secure retirement fund.
“Could you live off the savings you have in the bank right now, if you got out of the military in just three years?” asks U.S. Navy Aviation Boatswain’s Mate (Equipment) 1st Class Justin Mowery, an IKE CFS. “Will you have enough funds to support your lifestyle when you retire in twenty years, and not have to work?”
Finding the right ways to invest money for the future looks different for everyone. There are high interest savings accounts, such as a Certificate of Deposit (CD) savings account, that have features like penalties for early withdraw, fixed interest rate returns on money, and a set period of time before withdrawals are allowed and the money is insured. Other viable options for investments are stocks and bonds.
“When selecting a savings plan, it’s not only important to choose by interest rate, but also choose one that penalizes you for pulling out early,” said Daley. “No one likes paying to use their own money, and it also teaches you discipline to not use that money before your savings grows.”
Financial problems can affect all parts of your life. They can lead to overwhelming stress, divorce, suicide, loss of career, or homelessness.
“Finances are important in everything we do,” said Daley. “Being financially ready helps to prepare you to focus on your mission, be a better Sailor, and an asset to the Navy.”
Something to consider while preparing Sailors for their mission are the interest rates that come when taking out loans. A high interest rate will result in larger payments, while a lower interest rate keeps more money in the bank.
An asset to lower interest rates is the Service Member Civil Relief Act (SCRA). The interest percentage can lower between zero and five percent, and is offered to service members for free, although stipulations may apply.
“Just call your loan companies and ask if they offer the SCRA,” said Daley “It’s such a great thing offered to us.”
Getting into the mindset of the mission is easier when there are less variables on the home front to combat. Having an emergency fund is a great safety net to have. It’s recommended to have six to nine months of your pay saved up for unexpected events that may occur. Unexpected life events can greatly impact Sailors financial readiness, and they should not neglect their emergency fund. It is equally important for mental and financial health to maintain a vacation fund.
“Vacation funds are just as important because that’s how we reset, and it is great for our mental health,” said Daley. “It’s about life, liberty, and the pursuit of happiness to know you aren’t working in vein.”
Mowery has seen his junior Sailors struggle with their financial readiness, and has taken the initiative to become a CFS in order to properly assist them.
“Ideally, we want you to seek our services before they are a problem,” said Mowery. “Planning smartly, preparing for your future, whatever that looks like to you.”
It is paramount for Sailors to understand the difference in pay between sea and shore battle rhythms. It’s not just about savings or paying bills, but involves an understanding of how military pay fluctuates. When out to sea, Sailors can receive special pay such as family separation pay, and hazardous duty pay. When going back to shore duty, Sailors should adjust for losing that additional income.
“Whether you are only doing one contract or going to do twenty years, you need to have a plan,” said Mowery. “What I did to prepare was to become debt free, it’s hard work but anyone can do it.”
Preparing for deployment can be overwhelming, but taking time to learn better financial habits can make the process a little bit easier. Asking the right questions and seeking guidance on financial readiness is another facet of mission readiness, being ready to serve, and can take you another step closer toward the IKE way, “Greater Each Day.”
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