An official army family and MWR Site

Financial Readiness Program (FRP)

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The Financial Readiness Program helps educate service members about personal financial management. Consumer assistance is offered in cases involving conflict with local businesses. In all cases, counseling is provided on an individual and confidential basis.

ACS Financial Services is now offering VIRTUAL counseling and seminars!


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The FRP Office offers workshops and seminars throughout the year. Visit the MWR CALENDAR for up-to-date information about these events.


VIRTUAL FINANCIAL LUNCH & LEARN
with Niki and Leary

Dates: Wednesday - Friday
Time: Noon - 1 p.m.

Login and listen to our Financial Readiness Program Counselors, Leary and Niki, as they host dynamic discussions of current events, financial topics, take your requests and questions, and engage the audience.  This is an opportunity to listen in as your schedule allows.


June Lunch & Learn Topics below.
Registration is not required and all classes are free!

Week 1

  • Wed 6/1 - Disabling Sickness and Conditions: It can be incredibly overwhelming if you or a family member are impacted by a chronic illness. This seminar focuses on the financial implications and will help you create a plan to manage your finances effectively.
  • Thu 6/2 - ABLE Accounts: This seminar will assist people with disabilities and their families prepare for the future through the use of ABLE accounts. Join us to learn about eligibility criteria, enrollment process, features of the Maryland ABLE account and the account management process.
  • Fri 6/3 - Home Buying: A house is one of the most complicated and expensive purchases you will ever make. This presentation provides an overview of the home buying and mortgage process. Topics include, determining whether the time is right to purchase a home, what you can afford, choosing a lender and loan, selecting a real estate agent, negotiating and closing the deal.

Week 2

  • Wed 6/8 - Home Buying Mortgage Financing: This seminar will discuss how to choose mortgage lenders when home buying. We will share information about mortgages and discuss the characteristics of the best home mortgage loans and interest rates.
  • Thu 6/9 - Home Selling: This seminar covers everything from staging to settlement. Learn to prepare and stage your home, gather the necessary documents and understand the process from hanging the for sale sign to settlement day.
  • Fri 6/10 - Life Insurance: This seminar discusses how to make informed choices when selecting insurance products and how you can best manage risk, safeguard wealth and protect your assets.

Week 3

  • Wed 6/15 - Long Term Care: Open Discussion. 
  • Thu 6/16 - Permanent Change of Station (PCS): A PCS assignment presents exciting opportunities but can also come with some financial challenges. This seminar increases awareness to the financial support that is available to service members and their families who have received a new assignment.
  • Fri 6/17 - Promotion and Your Finances:  In this seminar we will review your finances to help set you up for a successful and prosperous future. We will cover four main topics: Financial Planning, Saving for Retirement, Career Investment Programs and Financial Resources.  

Week 4

  • Wed 6/22 - Car Buying:  Purchasing a car can be a difficult and frustrating process. This seminar will teach you how to negotiate with dealers for the best price and explore how you can save hundreds, if not thousands of dollars on your next vehicle purchase. In addition, this discussion will help you determine how much car you can afford. 
  • Thu 6/23 - Consumer Awareness: This seminar Introduces consumer rights as stipulated by Federal and State laws. Discusses specific rights for Service Members and reviews the steps in taking appropriate action if you fall victim to predatory financial practices.
  • Fri 6/24 - Gambling Awareness: This seminar discusses gambling statistics, the prevalence of gambling problems, military directives on gambling and the warning signs of compulsive/pathological gambling.  

Week 5

  • Wed 6/29 - Identity Theft: This seminar discusses how thieves steal your identity and what you can do to deter, detect and defend against identity theft. 
  • Thu 6/30 - Cyber Security: We will discuss identity theft targeting homeowners and veterans as well as important documents to have in case of an emergency.

July Lunch & Learn Topics below.
Registration is not required and all classes are free!

Week 1

  • Wed 7/1 - No Session

Week 2

  • Wed 7/6 - Social Security 101: This seminar provides, answers to your Social Security questions such as:
    • When am I eligible to receive retirement benefits?
    • How does early retirement affect my benefits?
    • Do I qualify for disability, survivors, or spousal benefits?

    • How do you get the most from your benefit?

    • What is the future of Social Security?

    • When should I file for Medicare?

You will also learn how to use your "My Social Security" online account and other online services.

  • Thu 7/7 - Managing Credit and Debt: This seminar provides information on credit establishment, credit management and debt relief. Introduces debt-to-income ratio concepts, the importance of monitoring credit reports and scores and briefly addresses the SCRA and bankruptcy.
  • Fri 7/8 - Christmas in July: Develop your plan early to achieve healthy spending habits during the holidays! Avoid the potential for unwanted financial stress by creating your spending plan now. You will also learn some tips on smart shopping and on managing your financial priorities.

Week 3

  • Wed 7/13 - Home Buying: A house is one of the most complicated and expensive purchases you will ever make. This presentation provides an overview of the home buying and mortgage process. Topics include, determining whether the time is right to purchase a home, what you can afford, choosing a lender and loan, selecting a real estate agent, negotiating and closing the deal. 
  • Thu 7/14 - Home Buying Mortgage - Financing: This seminar will discuss how to choose mortgage lenders when home buying. We will share information about mortgages and discuss the characteristics of the best home mortgage loans and interest rates.
  • Fri 7/15 -  Home Selling: This seminar covers everything from staging to settlement. Learn to prepare and stage your home, gather the necessary documents and understand the process from hanging the for sale sign to settlement day.  

Week 4

  • Wed 7/20 - Survivor Benefit Plan:  Open discussion​​​​​​​.
  • Thu 7/21 - Marriage & Finances: Marriage is not only a meaningful commitment to your partner but also a financial commitment and financial stress can play a big role in a marriage. This seminar will provide tips and tools to help you minimize any financial stress and optimize your finances for married life! Seminar topics include: Communication, Administrative Tasks, Financial Planning, Insurance, Legal Documents and Taxes.
  • Fri 7/22 - Divorce and Finances: The financial effects of divorce are stressful. The goal of this class is to help reduce uncertainty associated with the financial aspects of divorce. We will share information to help you make smart, informed financial decisions so you can emerge from your divorce with greater financial confidence.  

Week 5

  • Wed 7/27 - Permanent Change of Station (PCS): A PCS assignment presents exciting opportunities but can also come with some financial challenges. This seminar increases awareness to the financial support that is available to service members and their families who have received a new assignment.​​​​​​​
  • Thu 7/28 - Promotion and Your Finances:  In this seminar we will review your finances to help set you up for a successful and prosperous future. We will cover four main topics: Financial Planning, Saving for Retirement, Career Investment Programs and Financial Resources.
  • Fri 7/29 - Developing a Spending Plan: This seminar will help you learn to make and follow a spend plan through a financial planning worksheet and includes tips to manage spending, create a budget and set SMART financial goals.

Sign-in using the MS Teams link below at least 5 minutes prior to the start time.

Registration is not required. If you're not already a member, you will need to download Microsoft Teams (MT) and join using your browser.

Meeting Link: https://dod.teams.microsoft.us/l/meetup-join/19%3adod%3ameeting_fa05f9ce9fe74eecbda9633ea427aa11%40thread.v2/0?context=%7b%22Tid%22%3a%22fae6d70f-954b-4811-92b6-0530d6f84c43%22%2c%22Oid%22%3a%22f14eefb9-bf53-4af5-81a0-13c3337e7565%22%7d


Personal Budgets - Handling Credit Wisely - Planning for the Future
ACS Financial Professionals will be at the ready to give you professional advice and answers...virtually!

Financial Readiness

The Financial Readiness Program is your resource for information on money matters. We can help you better understand financial topics like: 

  • Military pay
  • Checkbook/debit card management
  • Financial responsibility
  • Credit reporting
  • Debt elimination strategies
  • Saving
  • Investing
  • Budgeting

 

We can also help you learn about other financial services, including:

  • Army Emergency Relief (AER): Army Emergency Relief is the U.S. Army's own nonprofit organization dedicated to alleviating financial distress on the force. AER provides grants and zero-interest loans to Active Duty and Retired Soldiers and their Families. Over 4 million Soldiers supported since 1942. AER officers are conveniently located at installations around the world. Visit ArmyEmergencyRelief.org to learn more."
  • Education Program: Offers need-based scholarships to help eligible Army Families with education costs.

For more information about how the Financial Readiness Program can help you, contact your nearest Army Community Service Center.

 

Other helpful financial readiness links include:

  • Thrift Savings Plan: A Federal Government-sponsored long-term retirement savings and investment plan, available for both Federal civilian employees and members of the uniformed services.
  • U.S. Savings Bonds: A shorter-term savings option with competitive interest rates and backed by the full faith and credit of the United States.
  • Military Saves: A component of the nonprofit America Saves and a partner in the Department of Defense’s Financial Readiness Campaign, Military Saves seeks to motivate, support, and encourage military Families to save money, reduce debt, and build wealth.
  • Money Matters: A mobile-optimized resource with calculators for savings, debt reduction and other reference material in one location.
  • Housing Resources for Military Members: The National Military Family Association has compiled a great list of resources to help Military Families who are struggling with the pitfalls of the housing crisis.
  • Army OneSource: Network of the services and delivery of support to Soldiers and their Families.
  • Military OneSource: A Department of Defense-funded program that provides comprehensive information on every aspect of military life at no cost to active duty, National Guard, reserve members, and their Families.
  • Office of Servicemember Affairs: A component of the Consumer Financial Protection Bureau helps to educate and empower military members, veterans, and their Families in the consumer financial marketplace.
  • Saveandinvest.org: A project of the FINRA Investor Education Foundation, a free, unbiased resource dedicated to your financial health. Helps you make informed decisions through easy-to-use tools and resources, and arms you with the information you need to protect yourself from investment fraud.
  • Better Business Bureau Military Line: Provides specialized education and support services, which meet the needs of active and retired military personnel and their Families. 

 

Family Subsistence Supplemental Allowance (FSSA) Pre-screening

Pre-screening and counseling for Soldiers who qualify for the FSSA entitlement. FSSA is an entitlement authorized by Congress in 2001 and created to supplement the Soldier's Basic Allowance for Subsistence (BAS). This entitlement will not exceed $1100 per month. Information and application for FSSA is web-based and can be found under the "Life Events that Impact Your Benefits" tab.

More Community Support

Virtual Workshop: Identity Theft

Jun 29 12 pm - 1 pm
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Virtual Workshop: Identity Theft

Jun 29 12 pm - 1 pm
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Virtual Workshop: Cyber Security

Jun 30 12 pm - 1 pm
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Virtual Workshop: Social Security 101

Jul 6 12 pm - 1 pm
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Virtual Workshop: Stress Management

Jul 7 11 am - 12 pm

Virtual Workshop: Managing Credit and Debt

Jul 7 12 pm - 1 pm
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Virtual Workshop: Christmas In July: To-dos to plan ahead for the holidays this summer!

Jul 8 12:30 pm - 1:30 pm
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Virtual Workshop: Christmas In July: To-dos to plan ahead for the holidays this summer!

Jul 8 12:30 pm - 1:30 pm
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Virtual Workshop: Home Buying

Jul 13 12 pm - 1 pm
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Virtual Workshop: Home Buying - Mortgage Process

Jul 14 12 pm - 1 pm

Virtual Workshop: Home Selling Seminar

Jul 15 12 pm - 1 pm
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Virtual Workshop: Home Selling Seminar

Jul 15 12 pm - 1 pm
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B.O.S.S. Paintball Life Skill

Jul 16 12 pm

Virtual Workshop: Creating Healthy Relationships

Lunch & Learn - Family Advocacy Training

Jul 21 11 am - 12 pm
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Virtual Workshop: Finances and Marriage

Jul 21 12 pm - 1 pm
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Virtual Workshop: Finances and Marriage

Jul 21 12 pm - 1 pm
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Virtual Workshop: Divorce and Finances

Jul 22 12 pm - 1 pm
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Virtual Workshop: Divorce and Finances

Jul 22 12 pm - 1 pm
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Virtual Workshop: 10 Steps to a Federal Job

Looking for the perfect Federal job? Come join us and learn the ten steps to Federal employment!

Jul 27 10 am - 12 pm

Virtual Workshop: Permanent Change of Station (PCS) Workshop

Jul 27 12 pm - 1 pm
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Virtual Workshop: Finances and Promotions

Jul 28 12 pm - 1 pm

Virtual Workshop: Finances and Promotions

Jul 28 12 pm - 1 pm
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Virtual Workshop: Developing Your Spending Plan

Jul 29 12 pm - 1 pm
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Virtual Workshop: Developing Your Spending Plan

Jul 29 12 pm - 1 pm
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