Financial readiness courses educate Airmen on money matters Published Sept. 18, 2009 By Senior Airman Melissa Copeland Air University Public Affairs MAXWELL AIR FORCE BASE, Ala. -- A recent study by the National Bureau of Economic Research found the amount of basic financial debt knowledge an individual possesses, has a strong correlation to the amount of debt they carry. The results, released in March, of the "Debt Literacy, Financial Experiences, and Over-indebtedness" survey, found that Americans with little to no 'debt literacy' incurred a higher debt burden than those who had some financial knowledge. This comes as no surprise to the Airman and Family Readiness Center's Personal Financial Readiness Consultant, Gari Smith, who says, credit card debt is the number one issue she sees most often. Coming in second were those with a lack of budget. "Finances are a source of contention or stress for many people and we want to change that by educating and preparing them before it becomes a problem," Ms. Smith said. The two-fold mission of the financial readiness program emphasizes the importance of the education and counseling of Airmen on money management skills and financial matters. Aligning with these objectives, the office is in the process of adding new classes and revamping the myriad of core classes they already offer. "We are here for the servicemember and their families," she said. "We truly want to help Airmen succeed financially so they will succeed in other areas of their lives." Some of the current financial readiness courses include; 'Moving Off Base,' for Airmen wishing to relocate off the installation and includes information on income and expense fluctuations, personal debt limits, the creation of a spending plan and lease agreement awareness. Another course, 'Understanding TSP,' outlines the benefits and advantages of investing in a Thrift Savings Plan. "Investing 101/Preparing to Invest,' offers budgeting, basic investment and financial tracking information and is part of an investing course series. 'Investing 102,' delves deeper into advanced investment options and examines the differences between Individual Roth Accounts, stocks, bonds and mutual funds. Those wishing to understand the inner workings of a credit report and its terminology should register to attend the 'Reading your Credit Report,' course. "We also have a semi-annual home buying and selling seminar," Ms. Smith stated. "In addition, we offer the following classes: Identity Theft, Eating on a Budget, Payday Loans, a car buying class, Basic Budgeting, and a credit and debt series." In collaboration with formal classes and seminars, Ms. Smith also offers in-house educational opportunities. "I also brief at commander's calls, roll calls, and unit training days and will set up shop at a unit for the day or half day to accommodate all schedules," she added. "There is a wealth of knowledge in this center that should be utilized daily." All classes and consultation services are free of charge and are targeted to DoD military and civilian personnel and families, to include Guard and Reserve, other eligible uniformed members, military retirees, eligible family members and annuitants Airmen and their families, civilian and contract government employees. "Besides financial education, we offer classes that cover everything from employment assistance, family life education, volunteer resources and family readiness/deployment issues," Ms. Smith said. "Your A&FRC belongs to you - we are here to provide the services that help Airmen and their families succeed in their endeavors." For more information or to register for financial readiness courses, call the Airman and Family Readiness Center at 953-2353.