#Army aer loan debt consuling how to
Virtual classroom sessions cover information on how to save and invest, planning out savings goals, reducing debt, and saving for emergencies. The program starts with an assessment worksheet detailing spending, savings, and income ratios. Military ID card-holders who enroll in the FRP are assigned to an accredited, licensed financial counselor who will focus on debt management and basic banking resources. We want to be their first resort-and never their last-strong finances are the basis for strong families.” Our first mission is to reduce the amount of debt from Soldiers and family members. “Now that I am part of the FRP program, I realize the importance of financial planning. “I’ve been where they are, and I know how it feels getting that first paycheck and wanting to spend it right away,” Chang said. “It’s not until the contract is complete that Soldiers realize that there may have been lower rates available to them,” he said. “Many of them were so excited to get their first check and spend all of their income without taking time to plan out future bills and expenses.”Ĭhang added that upon entering the military, many service members are usually anxious to sign for a vehicle, and don’t read the fine print detailing high interest rates, which will accrue over the length of the loan.
“It was so easy for these new Soldiers to get caught up with making large purchases and buying new cars,” he said. Yet, despite all of the FRP services offered, there is still an uneasy stigma associated with reaching out to counselors, said FRP Manager Philip Chang.Īs an Army veteran, Chang said he remembers working with young recruits who didn't know where to seek financial help and felt uncomfortable about receiving assistance from the military. Through the FRP, Soldiers experiencing financial hardship can also seek help through the Army Emergency Relief program. This resource offers counseling and educational support on managing finances, eliminating debt, setting financial goals, and developing money-management skills. These are just a few of the questions answered through the Fort Bliss Army Community Service Financial Readiness Program.
This may sound like an easy task, but what rules define the best way to keep finances on track? What type of budget is effective? When is the best time to start saving? Is financial assistance available? The start of a new year can usher in thoughts of setting financial goals and discovering new ways to keep up with monetary decisions. (Photo Credit: Stephanie Santos) VIEW ORIGINAL
#Army aer loan debt consuling free
The Fort Bliss Financial Readiness Program offers a free resource library with books and pamphlets on financial preparation and banking strategies. (Photo Credit: Stephanie Santos) VIEW ORIGINAL 2 / 2 Show Caption + Hide Caption – Fort Bliss Army Community Service financial readiness team stands ready to serve Soldiers, civilians, and families in their office at Fort Bliss, Texas, Jan.
0 kommentar(er)
