The PFMP is offered by each of the Services and is designed to assist members of the military in controlling their finances and successfully planning for their financial futures.  The PFMP provides classes, one-on-one counseling sessions, and additional information designed to educate Service members and their families about consumer rights and to help them achieve financial stability.

The PFMP is offered by each of the Services and is designed to assist members of the military in controlling their finances and successfully planning for their financial futures.  The PFMP provides classes, one-on-one counseling sessions, and additional information designed to educate Service members and their families about consumer rights and to help them achieve financial stability.

Through a partnership with several federal agencies and nonprofit organizations, the Department of Defense (DoD) has launched the Financial Readiness Campaign, designed to increase personal readiness by reducing the stressors related to financial problems.  The Campaign targets spouses of Service members and junior enlisted Service members, as these populations are among the most susceptible to financial problems.  The Campaign strives to improve financial awareness and abilities, encourage an increase in savings, reduce dependency on credit, and to protect Service members against predatory lending practices.  Because of the DoD Campaign, some of the individual branches of Service are now using the term "financial readiness" in place of "personal financial management."

Through a partnership with several federal agencies and nonprofit organizations, the Department of Defense (DoD) has launched the Financial Readiness Campaign, designed to increase personal readiness by reducing the stressors related to financial problems.  The Campaign targets spouses of Service members and junior enlisted Service members, as these populations are among the most susceptible to financial problems.  The Campaign strives to improve financial awareness and abilities, encourage an increase in savings, reduce dependency on credit, and to protect Service members against predatory lending practices.  Because of the DoD Campaign, some of the individual branches of Service are now using the term "financial readiness" in place of "personal financial management."

Financial readiness directly impacts mission readiness, as Service members with financial problems may not be able to concentrate on the mission at hand.  Military families prosper when they are in control of their own finances and are able to save money for the future.  Service members are also expected to pay their financial obligations in a proper and timely manner and failure to do so may result in disciplinary actions under the Uniform Code of Military Justice.  Financial readiness allows Service members and their families to:

• build a good credit history for financial flexibility
• avoid the personal and professional stressors of poor money management
• have emergency savings for unforeseen contingencies
• establish a path to a secure retirement  
• protect themselves against predatory and unscrupulous lenders

Financial readiness directly impacts mission readiness, as Service members with financial problems may not be able to concentrate on the mission at hand.  Military families prosper when they are in control of their own finances and are able to save money for the future.  Service members are also expected to pay their financial obligations in a proper and timely manner and failure to do so may result in disciplinary actions under the Uniform Code of Military Justice.  Financial readiness allows Service members and their families to:

• build a good credit history for financial flexibility
• avoid the personal and professional stressors of poor money management
• have emergency savings for unforeseen contingencies
• establish a path to a secure retirement  
• protect themselves against predatory and unscrupulous lenders

The PFMP offers many services to help Service members, DoD civilians, and their families take control of their personal finances and plan for the future including, but not limited to:

• Prevention education - Each of the branches of Service offers courses and counseling designed to prepare Service members, DoD civilians, and their families to make better financial decisions by educating them about good financial practices, financial traps, and about their rights and obligations as consumers.   Topics addressed through prevention education include:
  • banking and credit union services
  • budget development, financial goal setting, record keeping, and cash management
  • credit use and abuse
  • consumer rights and obligations
  • insurance
  • military pay
  • critical life stages impacting personal finances (i.e., marriage, parenthood, college, retirement, etc.)
• Mandatory classes and training - Service members who are at the greatest risk for financial problems may be required to attend financial classes and training.  These target populations may include all junior enlisted Service members, Service members who have been scheduled for their first permanent change of station (PCS) move, Service members preparing for deployment, or any Service member about to assume a leadership role as a supervisor, officer, or noncommissioned officer.  In addition to these populations, the branches of Service may require refresher courses in financial education and training for Service members who have abused or misused check cashing privileges.
• Financial counseling services - One-on-one financial counseling services are provided by the PFMP on topics such as budget development, financial planning, spending plan development, management of personal finances, and evaluating assets and liabilities.
• Debt liquidation assistance - The PFMP addresses financial indebtedness by assisting Service members and their families in analyzing assets and liabilities, developing a repayment program to eliminate debts, and in contacting their creditors.  Once a debt repayment plan has been established, the PFMP helps track the plan to ensure that debts are eliminated and that the Service member can manage his or her finances independently.
• Consumer advocacy services - The PFMP provides information to help Service members, DoD civilians, and their families make educated decisions about their personal finances.
• Consumer complaint resolution - When Service members, DoD civilians, or their families have consumer complaints, the PFMP helps complete consumer complaint forms, provides information on consumer rights, and makes appropriate referrals to military and civilian resources responsible for resolving such complaints.
• Coordination with emergency financial assistance organizations - Service members and their families may request financial assistance from their Service's emergency financial aid organizations.  The PFMP assists customers by coordinating with the emergency relief organizations.
• Financial classes and seminars for youth and teens - The PFMP may also provide age-appropriate classes and seminars on various financial topics designed for children of Service members to help prepare them to make better financial decisions.

The PFMP offers many services to help Service members, DoD civilians, and their families take control of their personal finances and plan for the future including, but not limited to:

• Prevention education - Each of the branches of Service offers courses and counseling designed to prepare Service members, DoD civilians, and their families to make better financial decisions by educating them about good financial practices, financial traps, and about their rights and obligations as consumers.   Topics addressed through prevention education include:
  • banking and credit union services
  • budget development, financial goal setting, record keeping, and cash management
  • credit use and abuse
  • consumer rights and obligations
  • insurance
  • military pay
  • critical life stages impacting personal finances (i.e., marriage, parenthood, college, retirement, etc.)
• Mandatory classes and training - Service members who are at the greatest risk for financial problems may be required to attend financial classes and training.  These target populations may include all junior enlisted Service members, Service members who have been scheduled for their first permanent change of station (PCS) move, Service members preparing for deployment, or any Service member about to assume a leadership role as a supervisor, officer, or noncommissioned officer.  In addition to these populations, the branches of Service may require refresher courses in financial education and training for Service members who have abused or misused check cashing privileges.
• Financial counseling services - One-on-one financial counseling services are provided by the PFMP on topics such as budget development, financial planning, spending plan development, management of personal finances, and evaluating assets and liabilities.
• Debt liquidation assistance - The PFMP addresses financial indebtedness by assisting Service members and their families in analyzing assets and liabilities, developing a repayment program to eliminate debts, and in contacting their creditors.  Once a debt repayment plan has been established, the PFMP helps track the plan to ensure that debts are eliminated and that the Service member can manage his or her finances independently.
• Consumer advocacy services - The PFMP provides information to help Service members, DoD civilians, and their families make educated decisions about their personal finances.
• Consumer complaint resolution - When Service members, DoD civilians, or their families have consumer complaints, the PFMP helps complete consumer complaint forms, provides information on consumer rights, and makes appropriate referrals to military and civilian resources responsible for resolving such complaints.
• Coordination with emergency financial assistance organizations - Service members and their families may request financial assistance from their Service's emergency financial aid organizations.  The PFMP assists customers by coordinating with the emergency relief organizations.
• Financial classes and seminars for youth and teens - The PFMP may also provide age-appropriate classes and seminars on various financial topics designed for children of Service members to help prepare them to make better financial decisions.

Although the military does have the authority to mandate that Service members undergo financial training/counseling, family members cannot be required to do so.  They may be highly encouraged to attend training or counseling, especially if they fall within one of the groups that is at high risk for financial problems.  Typically, mandated financial training is only required for junior enlisted Service members or Service members who have encountered financial troubles.

Although the military does have the authority to mandate that Service members undergo financial training/counseling, family members cannot be required to do so.  They may be highly encouraged to attend training or counseling, especially if they fall within one of the groups that is at high risk for financial problems.  Typically, mandated financial training is only required for junior enlisted Service members or Service members who have encountered financial troubles.

Each branch of Service has an associated private, nonprofit organization that assists Service members and their families in times of need.  The relief societies provide grants and interest-free loans to Service members and their families who have demonstrated a valid need for emergency financial assistance.  Emergency financial assistance does not include paying bills for non-essentials, vacations, legal expenses, taxes, or expenses associated with living beyond one's means.  The relief societies do provide financial assistance for emergency transportation, funeral expenses, medical/dental bills, food, rent, utilities, disaster relief, child care expenses, essential vehicle repair, or any other unforeseen family emergencies.  For more information on the relief societies, please contact the Army Emergency Relief (AER), the Navy-Marine Corps Relief Society (NMCRS), the Air Force Aid Society (AFAS), or the Coast Guard Mutual Assistance (CGMA). 

Each branch of Service has an associated private, nonprofit organization that assists Service members and their families in times of need.  The relief societies provide grants and interest-free loans to Service members and their families who have demonstrated a valid need for emergency financial assistance.  Emergency financial assistance does not include paying bills for non-essentials, vacations, legal expenses, taxes, or expenses associated with living beyond one's means.  The relief societies do provide financial assistance for emergency transportation, funeral expenses, medical/dental bills, food, rent, utilities, disaster relief, child care expenses, essential vehicle repair, or any other unforeseen family emergencies.  For more information on the relief societies, please contact the Army Emergency Relief (AER), the Navy-Marine Corps Relief Society (NMCRS), the Air Force Aid Society (AFAS), or the Coast Guard Mutual Assistance (CGMA). 

PFMP offices are available on all DoD military installations.  Maps, directions, and contact information for PFMP offices can be found on MilitaryINSTALLATIONS under the program/service titled "Personal Financial Management Services."

For Service members or their families who are interested in other resources or who are not stationed in close proximity to an installation, financial counseling is also available through Military OneSource and the Military and Family Life Consultants (MFLC) Program.   Both services provide free, face-to-face, short-term, problem-solving counseling services to address issues that impact Service members and their families.   

To contact Military OneSource by phone:  Stateside: 1-800-342-9647; Overseas: 00-800-3429-6477; Overseas Collect: 1-484-530-5908.  Active duty members can access MFLCs through installation locations, such as the Army Community Services (ACS), Marine Corps Community Services (MCCS), Navy Fleet and Family Support Centers (FFSC), and the Airman and Family Readiness Centers (A&FRC).  Reservists and National Guard members can call 1-888-755-9355 to speak directly to a consultant who will refer them to a counselor in their area.

PFMP offices are available on all DoD military installations.  Maps, directions, and contact information for PFMP offices can be found on MilitaryINSTALLATIONS under the program/service titled "Personal Financial Management Services."

For Service members or their families who are interested in other resources or who are not stationed in close proximity to an installation, financial counseling is also available through Military OneSource and the Military and Family Life Consultants (MFLC) Program.   Both services provide free, face-to-face, short-term, problem-solving counseling services to address issues that impact Service members and their families.   

To contact Military OneSource by phone:  Stateside: 1-800-342-9647; Overseas: 00-800-3429-6477; Overseas Collect: 1-484-530-5908.  Active duty members can access MFLCs through installation locations, such as the Army Community Services (ACS), Marine Corps Community Services (MCCS), Navy Fleet and Family Support Centers (FFSC), and the Airman and Family Readiness Centers (A&FRC).  Reservists and National Guard members can call 1-888-755-9355 to speak directly to a consultant who will refer them to a counselor in their area.