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Thu Jul 24, 2014
 
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Financial Readiness

Financial Readiness

Money MattersThe Army is here to help provide you with information on matters dealing with money. From financial calculators to tax preparation, these tools shown below, can help you on your way to financial success.



Free Tax Filing Opportunity

MyFreeTaxesVeterans and active duty military can join millions of their fellow Americans and save money at tax time. MyFreeTaxes provides free federal and state tax preparation and filing assistance both online and in person for qualified individuals and families earning $58,000 or less. MyFreeTaxes.com is the only free online tax preparation and filing service available in all 50 states and Washington, D.C., allowing users to file both a federal and state return no matter where they live. Learn more at myfreetaxes.com/ArmyOneSource.

These cities have an IRS certified tax coach onsite in a Veterans organization to assist Service members, Veterans and their Family members with preparing their own taxes through MyFreeTaxes.

  • Washington DC – VA Veterans Community Resource & Referral Center
  • Dallas, TX – Veterans Community Resource & Referral Center
  • Atlanta, GA – Ft. McPherson Veterans Community Resource & Referral Center
  • Nashville, TN - Operation Stand Down
  • Detroit, MI – VA Hospital & Veterans Community Resource & Referral Center
  • Jacksonville, FL – City of Jax Department of Military Affairs & Veterans Services
  • Chicago, IL – Workforce Centers promoting through Veterans staff
  • Los Angeles, CA – Workforce Centers promoting through Veterans staff


Military Saves Campaign

Military Saves CampaignThe Military Saves campaign is a year around process although the Department of Defense has designated 24 February through 1 March 2014 as Military Saves Week and pushes the information extra hard during this designated time. This is part of the DoD Financial Readiness campaign, and the purpose is to encourage Soldiers and their Families to establish positive fiscal management habits through savings and financial planning. It is also a part of a larger America Saves national campaign conducted by the Consumer Federation of America (CFA). This national campaign involves more than 1,000 non-profit, government, and corporate groups encouraging individuals and Families to build personal wealth. Please take a look at the links below. Some pertain strictly to the week identified as Military Saves week, but the Military Saves website is available year around with pertinent information.



Financial Literacy Game Demo

Step into a virtual world and learn about finances though the Army Financial Literacy Game! This virtual world integrates creativity, education and fun, making it a great way to learn about the financial world.

Watch this demo to learn more about the Financial Literacy Game and what it can do for you.



Consumer Finance Protection Bureau

CFPBThe Consumer Finance Protection Bureau (CFPB) mission is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.

We work to give consumers the information they need to understand the terms of their agreements with financial companies. We are working to make regulations and guidance as clear and streamlined as possible so providers of consumer financial products and services can follow the rules on their own.

Congress established the CFPB to protect consumers by carrying out federal consumer financial laws. Among other things, we:

  • Write rules, supervise companies, and enforce federal consumer financial protection laws
  • Restrict unfair, deceptive, or abusive acts or practices
  • Take consumer complaints
  • Promote financial education
  • Research consumer behavior
  • Monitor financial markets for new risks to consumers
  • Enforce laws that outlaw discrimination and other unfair treatment in consumer finance

Information specifically designed to help ServiceMembers and their Families is also a special goal for the CFPB. Click the below links to access this information and the helpful tools they have created.



Having Housing Trouble?

Consumer FinanceMany Military Service Members who are homeowners are finding themselves upside down on their home loans in todays housing market. However you are not alone and there is help for you.

Holly Petraeus, of the Consumer Financial Protection Bureau's Office of Service Members, talks about the changes in lending rules to make it easier for service members to get relief from their mortgage problem.

They offer professional staffs or hosts to take care of your needs. Many RV parks and campgrounds offer programs to help you take advantage of other installation MWR activities and local area attractions.



Housing Trouble - Options Available for Military Homeowners

Military Families are not immune to the pitfalls of the housing crisis. Many of their stories are similar—some purchased a home that has drastically declined in value or they have orders to move and will no longer receive their current housing allowance to help cover the cost of their mortgage.

So, where can families like these turn for help? National Military Family Association has compiled a great listing of resources. Use the link below to access the article and see the programs available.



JULY FEATURED EVENTS

 



Calculators
Calculator

Calculators
Our personal finance calculators are designed to help guide you through the financial decision-making process. All calculators are built to help you successfully manage your personal finances including, debt payoff, investments and loan consolidation.

  • Savings
    View the difference a regular savings plan can make!
  • Compound Interest
    See why it's better to start saving early for retirement.
  • Debt Payoff
    Determine how long it will take to pay off your debt based on different monthly payment scenarios.
  • Monthly Payment
    See what your monthly payment will be for a loan.


Financial Profile
The Financial Profile system will help give you a more accurate picture of your finances. The system allows you to securely enter your data giving you the ability to make assessments based on the values.
Pie Chart


Financial Readiness Resources

Retirement Information

The eLearning center offers courses that can help you learn how to prepare for a financially secure tomorrow. Interested? Try the following classes:

For more information about PRE-retirement and POST-retirement, visit:



Financial Library Resources

FiFCheck on your 401K and other investments, read up on a company or search for personal finance information in a large collection of magazines, newspapers, and books. A worldwide network of over 90 libraries supports Soldiers and their Families. Find the library nearest you. The following online resources funded by DoD and the Army General Library Program are available 24/7 from home or office. (Note: All links below will load a new browser. To use these links, you may need to disable any pop-up blocking you may have enabled.)



My Fico Website
[7/23/2014]

A website that provides information on credit scores used to determine your eligibility for loans.

Views: 2929
Youth Initiatives
[7/23/2014]

Resources from the Credit Union National Association (CUNA) that provide youth and young adults with information for financial literacy.

Views: 2390
Path to Investing
[7/24/2014]

Information on how to invest in your financial future. A source of objective and practical financial advice.

Views: 2112
myPay
[7/24/2014]

myPay is an innovative, automated system that puts you in control of processing certain discretionary pay data items without using paper forms. You can also get your pay and tax statements.

Views: 2867
Military Saves
[7/24/2014]

Military people just like you are proving that you don’t have to be rich to build wealth. From Junior Enlisted ranks to stay-at-home moms, from teenage family members to NCOs, officers, civil servants, SNCOs, retirees, veterans and contractors, those who serve America are serving their futures by savings money.

Views: 3116