Personal Financial Readiness

THE PERSONAL FINANCIAL READINESS PROGRAM
The Personal Financial Readiness program offers information, education and counseling to enhance your abilities to manage money and invest in your future. Personal Financial Management services include:

CREDIT REPORTS AND UNDERSTANDING CREDIT
25% of credit reports have serious errors. These errors will impact your ability to take out a loan or significantly increase the interest rate you pay, restrict employment opportunities, affect your security clearance, determine how much security deposit is required for utilities, rent etc. The Fair Credit Reporting Act requires each of the three major consumer reporting companies, Equifax, Experian, and TransUnion, to provide you with a free copy of your credit report, at your request, once every 12 months. You can access your free reports through the following website at Annual Credit Report (https://www.annualcreditreport.com/cra/index.jsp embedded in Annual Credit Report). To see how your credit report and credit score relate, plus how to interpret your score, read the Credit Report Guide.(this document will be in a folder which will be accessed when clicking on the link) Once you receive your report, you can download the following Credit Report Code guide( this document will be in a folder which will be accessed when clicking on the link) to understand what each codes means that is reflected on your report.

Financial Planning
- Money does matter! Living paycheck to paycheck leaves little breathing room. Budget your money and you'll see where you can cut back and begin building emergency funds. Download this spreadsheet in MS Excel and fill out the grey areas to see if you have a surplus or a deficit. Financial Plan (this document will be in a folder which will be accessed when clicking on the link)

Where are you financially?
- Analyzing your spending habits will allow you to see where your money is going, enable you to institute changes, and prevent you from making a financial commitment before you are ready. No matter what your results are, financial counseling is FREE at the Airman and Family Readiness Center and can assist you in finding solutions that will benefit you, your family, and your career. Financial Assessment Tool (this document will be in a folder which will be accessed when clicking on the link)

Debt Management
- How would you like to see exactly how much interest you are paying to your creditors and have get a plan to get out of debt? University of Utah developed PowerPay Take a minute to establish an account. (link will be embedded in PowerPay link above https://powerpay.org/)

Resources: (the links below the titles will be embedded in title)

STEPS TO IMPROVE YOUR CREDIT
Improve Your Credit - 9 Ways (this document will be in a folder which will be accessed when clicking on the link)

6% Interest rate Reduction Request Sample letter (this document will be in a folder which will be accessed when clicking on the link)

AF LEAVE AND EARNINGS STATEMENT
- Understanding Your LES (this document will be in a folder which will be accessed when clicking on the link)

SAVINGS
- IRS Tax Estimator
- Saving and Investing

BANKING
-Is my Bank FDIC Insured (FDIC)?

TAXES
-Free Tax Software - H&R Tax Cut
-States that Exempt Military from State Income Tax
-IRS Tax Estimator

FINANCIAL CALCULATOR

INVESTING
- What's Your Risk Tolerance?
http://njaes.rutgers.edu/money/riskquiz/

- Saving and Investing

http://www.saveandinvest.org/MilitaryCenter/

THRIFT SAVINGS PLAN
- Understanding TSP (this document will be in a folder which will be accessed when clicking on the link)

LOANS
-Protection for Service Members (this document will be in a folder which will be accessed when clicking on the link, Military Lending Act)

HOME BUYING

- To Rent or Buy Calculator
- Find Your Home-
- Search for Homes - Realtor.com
- Search for Homes - AHRN.com
- Search for Homes - Zillow.com

- What Your Real Estate Agent Doesn't Want You to Know

- Shopping Mortgages

- 100 Questions & Answers About Buying A New Home

IDENTITY THEFT
What is Identity Theft?

Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.

The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft. The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn't make--or until you're contacted by a debt collector.

- Recovering From Identity Theft http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/defend.html

- FTC Report Consumer Complaints, Jan - Dec 2010 (this document will be in a folder which will be accessed when clicking on the link)

What are you doing to protect your identity?

Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports.

In rare cases, they may even be arrested for crimes they did not commit.

Contact us at 722-1123 for more information or assistance. If you are a victim of identity theft download the immediate steps to take (this document will be in a folder which will be accessed when clicking on the link) to protect yourself.

OTHER RESOURCES (the links below the titles will be embedded in title)

· Defense Finance and Accounting Service
· Military Pay and Benefits Web Site sponsored by the Office of the Under Secretary of Defense for Personnel and Readiness

· SaveAndInvest.Org - A free service of the FINRA Investor Education Foundation
· MilitarySaves.Org
· Bankrate.com - News, tips and advice to compare mortgage rates, home equity loans, CDs, car loans, credit cards and money market accounts

· Powerpay.org - Helping debtors become savers
· Federal Trade Commission - Protecting America's Consumers
· Federal Deposit Insurance Corporation - Preserves and promotes public confidence in the U.S. financial system
· Consumers Union - Nonprofit publisher of Consumer Reports

·Financial Privacy Now - From Consumers Union
· The USAA Educational Foundation - Provides free financial education and publications
· Better Business Bureau Air Force Line - BBB Air Force Line, in partnership with the USAF Airmen and Family Readiness Centers (A&FRCs), encourages Air Force personnel (including Reservists and National Guard), retirees, and their family members to use the free consumer services and materials offered by BBB.

Check Per Diem, COLA, & BAH rates - Click Below...

CREDIT REPORT CODES AND SOLUTIONS

SIX PERCENT INTEREST RATE REDUCTION REQUEST SAMPLE LETTER

CREDIT SCORE - 9 WAYS TO IMPROVE

FINANCIAL LAYOUT

DEFENSE TRAVEL SYSTEM - This link can answer your goverment travel questions. Just click here to access the official website.

Financial Plan Personal

Financial Wellness Assessment tool

FTC Report on Consumer Complaints Jan - Dec 2010

Immediate Steps to Take for ID Theft

Military Lending Act

Summary of the Thrift Savings Plan

TSP

Understanding Your FICO Score

Understanding Your LES