ALCOAST 104/08 COMDTNOTE 1754 SUBJ: PERSONAL FINANCIAL MANAGEMENT CONCERNS AND FINANCIAL ASSISTANCE/COUNSELING OPTIONS A. CG EMPLOYEE ASSISTANCE PROGRAM, COMDTINST 1740.7 (SERIES) B. CAREER DEVELOPMENT ADVISOR (CDA) PROGRAM, COMDTINST 1040.4 (SERIES) C. LEGAL ASSISTANCE PROGRAM, COMDTINST 5801.4 (SERIES) D. PERSONNEL MANUAL, COMDTINST M1000.6 (SERIES) 1. DURING THIS ECONOMIC PERIOD WHERE WE ARE EXPERIENCING A SLUGGISH HOUSING MARKET AND RISING PRICES FOR FUEL, FOOD AND OTHER NECESSITIES, THERE IS GROWING CONCERN THROUGHOUT OUR WORKFORCE ABOUT FINANCIAL SOLVENCY. AS WE APPROACH ANOTHER TRANSFER SEASON, THERE HAS BEEN PARTICULAR CONCERN EXPRESSED WITH RESPECT TO THE HOUSING MARKET. SPECIFICALLY, MEMBERS ARE CONCERNED THAT THEY MAY ENCOUNTER DIFFICULTY IN SELLING THEIR HOME AT A DECENT VALUE. THESE PRESSURES MAY PUT ADDITIONAL STRESS ON OUR WORKFORCE AND HAVE THE POTENTIAL TO IMPACT OUR WORKFORCE READINESS. TO ASSIST CG MEMBERS IN DEALING WITH THESE ISSUES DURING THIS DIFFICULT TIME, WE HAVE MADE A NUMBER OF RESOURCES AND TOOLS AVAILABLE. 2. I ENCOURAGE YOU TO REVIEW THE INFORMATION BELOW AS WELL AS SHARE THIS INFORMATION WITH YOUR SPOUSE AND FAMILY TO ARRIVE AT FINANCIAL DECISIONS AND REMEDIES THAT WILL BEST MEET YOUR NEEDS AND CONCERNS. 3. VARIOUS FINANCIAL MANAGEMENT RESOURCES AND TOOLS ARE AVAILABLE AT THE WORK-LIFE WEB SITE AT HTTP://WWW.USCG.MIL/WORKLIFE. ONCE THERE, CLICK ON THE "FINANCIAL MANAGEMENT" ICON. SCROLL DOWN TO THE "RELATED WEB SITES" SECTION, AND SELECT THE VARIOUS SOURCES OF FINANCIAL MANAGEMENT INFORMATION. OF PARTICULAR INTEREST FOR JUNIOR MEMBERS IS THE "360 DEGREES OF FINANCIAL LITERACY" WEB SITE OFFERED BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, WHICH CAN HELP PROVIDE UNDERSTANDING OF BUDGETING, SAVING AND INVESTING AS A FIRST STEP TOWARD FINANCIAL FREEDOM. 4. THROUGH THE COAST GUARDS EXISTING EMPLOYEE ASSISTANCE PROGRAM (EAP) CONTRACT, FINANCIAL ASSISTANCE COUNSELING CAN BE OBTAINED BY CALLING THE EAP HOT LINE AT 1-800-222-0364. WHEN YOU PLACE THIS CONFIDENTIAL CALL, YOU CAN DISCUSS YOUR FINANCIAL CONCERNS AND ASK ABOUT RECEIVING FINANCIAL COUNSELING BY TELEPHONE. TO OBTAIN INFORMATION REGARDING EAP RESOURCES, CONTACT YOUR REGIONAL WORK- LIFE OFFICE, OR CALL THE TOLL-FREE NUMBER AT 1-800-872-4957. AN EXPLANATION OF THE EAP PROGRAM IS CONTAINED IN REF A. 5. YOU CAN ALSO OBTAIN FINANCIAL ASSISTANCE BY CONTACTING YOUR CAREER DEVELOPMENT ADVISORS. CDAS ASSIST PERSONNEL IN MAXIMIZING THEIR CAREER POTENTIAL BY DEVELOPING, COORDINATING, AND IMPLEMENTING A CAREER DEVELOPMENT PROGRAM. THEY ARE KNOWLEDGEABLE IN GOAL SETTING, MENTORING, VOLUNTARY EDUCATION, ACTIVE DUTY TO RESERVE TRANSITION, PROFESSIONAL DEVELOPMENT, AND FINANCIAL MANAGEMENT. DETAILS ABOUT CDAS AND THEIR LOCATIONS CAN BE FOUND IN REF B. 6. AS PROVIDED IN REF C, SERVICE MEMBERS MAY ALSO CONSULT COAST GUARD LEGAL ASSISTANCE ATTORNEYS FOR HELP IN ADDRESSING ISSUES RELATING TO FINANCIAL AND CONSUMER MATTERS. IF NEEDED, THEY CAN OFFER OPTIONS AND EXPLORE POTENTIAL REMEDIES UNDER STATE AND FEDERAL LAW, PARTICULARLY THE SERVICE MEMBERS CIVIL RELIEF ACT. TO FIND A LEGAL ASSISTANCE ATTORNEY, GO TO: HTTP://LEGALASSISTANCE.LAW.AF.MIL AND SELECT THE "LOCATE LEGAL SERVICES" ICON. 7. MILITARY SAVES IS A YEAR-ROUND "FINANCIAL READINESS" CAMPAIGN DEVELOPED BETWEEN DOD AND THE CONSUMER FEDERATION OF AMERICA (CFA). THE CAMPAIGN OBJECTIVE IS TO INVOLVE ALL LEVELS OF LEADERSHIP IN AN INTENTIONAL, SUSTAINED EFFORT TO CREATE A CULTURE THAT ENCOURAGES MEMBERS TO REDUCE DEBT, DEVELOP A FINANCIAL PLAN, AND SAVE MONEY FOR THE FUTURE. CHANGING FINANCIAL HABITS IS A FORMIDABLE TASK, THAT REQUIRES EACH OF US TO TAKE PERSONAL RESPONSIBILITY AND IDEALLY, TO ADOPT A "MILITARY SAVER" LIFESTYLE. THE COAST GUARD WANTS YOU TO BENEFIT FROM THE MILITARY SERVICES PARTNERSHIP WITH CFA, AND ENCOURAGES YOU TO USE THE FINANCIAL MANAGEMENT RESOURCES AVAILABLE TO ASSIST IN ENHANCING YOUR FINANCIAL READINESS. TO ACCESS MILITARY SAVES FINANCIAL MANAGEMENT RESOURCES, GO TO: HTTP://WWW.MILITARYSAVES.ORG. UPON ENTERING THIS SITE, CLICK THE VARIOUS ICONS TO LEARN HOW TO GET OUT OF DEBT, HOW TO SAVE ON AUTO PURCHASES, SAVE FOR EMERGENCIES, SAVE FOR A HOME, AND SAVE AT WORK, AND LEARN ABOUT SAVINGS AND INVESTMENTS. YOU CAN ALSO TAKE THE "SAVER PLEDGE", AND RECEIVE THE MILITARY SAVER E-NEWSLETTER AND OTHER PERIODIC COMMUNICATIONS. THIS IS A FREE SERVICE, AND AT NO TIME WILL MILITARY SAVES ATTEMPT TO SELL YOU ANYTHING. YOU SHOULD NOTE THAT THE USE OF "MY PAY" IS LIMITED TO DOD PERSONNEL. HOWEVER, YOUR SERVICING PERSONNEL OFFICE CAN ASSIST YOU WITH MAKING CHANGES TO YOUR ALLOTMENTS, SAVINGS BONDS, AND THRIFT SAVINGS PLAN ALLOCATIONS AS NEEDED. 8. PART OF BEING ABLE TO MEET MISSION DEMANDS IS ENSURING WE ARE PREPARED ON THE HOME FRONT - READINESS BEGINS AT HOME. FINANCIAL SOLVENCY IS A KEY ELEMENT TO ENSURING THAT READINESS. IF YOU ARE IN NEED OF ASSISTANCE, YOU SHOULD REACH OUT FOR HELP BEFORE THE BURDEN GETS TOO GREAT, BECAUSE ONLY YOU KNOW WHERE YOU STAND FINANCIALLY. IN ACCORDANCE WITH REF D, MEMBERS WHO FAIL TO MEET THEIR FINANCIAL OBLIGATIONS BRING DISCREDIT UPON THE SERVICE, BURDEN THE COMMAND ADMINISTRATIVELY, MAY BECOME SUBJECT TO DISCIPLINARY ACTION, AND JEOPARDIZE THEIR ELIGIBILITY FOR A SECURITY CLEARANCE, SCHOOLS, ASSIGNMENTS AND COMMAND. FINANCIAL DISTRESS CAN ALSO DISTRACT CIVILIAN EMPLOYEES FROM THEIR WORK AND PUT AT RISK THEIR SECURITY CLEARANCES. IT IS THEREFORE CRITICAL THAT YOU ARE PROACTIVE AND TAKE STEPS TO ENSURE YOUR FINANCIAL READINESS. I ENCOURAGE ALL MEMBERS OF TEAM COAST GUARD TO TAKE ADVANTAGE OF THESE RESOURCES TO HELP MANAGE THEIR FINANCIAL MATTERS. IN ADDITION, I CHALLENGE SUPERVISORS TO OFFER ASSISTANCE TO AND MENTOR JUNIOR MEMBERS TO HELP THEM ESTABLISH POSITIVE FINANCIAL MANAGEMENT PRACTICES. 9. COMMANDING OFFICERS AND OFFICERS-IN-CHARGE SHOULD ENSURE THAT THIS INFORMATION IS MADE AVAILABLE TO ALL PERSONNEL AND THEIR FAMILIES. BY STRESSING THE IMPORTANCE OF MAINTAINING FINANCIAL READINESS TO UNIT PERSONNEL, AND USING UNIT LEADERS TO ESTABLISH A SUPPORTIVE CULTURE, YOU CAN HELP MINIMIZE THE STRESS ASSOCIATED WITH FINANCIAL PROBLEMS EXPERIENCED BY CG PERSONNEL. 10. QUESTIONS MAY BE DIRECTED TO MR. JOHN REIBLING AT 202-475-5161, E-MAIL: JOHN.S.REIBLING(AT)USCG.MIL, OR MR. BOB SKEWES AT 202-475- 5140, E-MAIL: ROBERT.L.SKEWES(AT)USCG.MIL. 11. INTERNET RELEASE AUTHORIZED.