personal financial management in a transition 9. resources for fixing money problems military relief...
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Personal Financial Management in a Transition
9. Resources for Fixing Money Problems
Military Relief Societies (now, before you go – and – Retirees)
Money calculators and education PowerPay.org from Utah State Extension
Other sources of assistance
Now may be a good time to pick up positive habits, and make adjustments and corrections while you have time and focus on your transition
2
www. aerhq. org
http://riamwr.com/ACS/emergency-relief(309) 782-0829 1-877-882-0523
Red Cross Call Center1-877-272-7337
Navy / Marine Corps ReliefAir Force Aid Society
Relief Societies
Prevent privation for a short term: food; rent or mortgage; utilities;
essential POV payment, gas, insurance; non-receipt of pay; emergency travel; emergency medical; fire & theft.
Title 10 Active Duty Soldier with concurrence of Commander or 1SG
Spouse with POA; or
sponsor’s permission
Getting a handle on Money Past
A. Enter the creditor information into the matrix:
Creditor; Balance Owed; Monthly Payment; APR
B. PowerPay will automatically compare options and provide a
“pay-off calendar” for that method
www.powerpay.org
E. Without PowerPayments: treat creditors individually
= 10 Years & 8 Months
D. With PowerPayments: treat creditors as a group= 3 Years & 10 Months
F. Savings in Time & Money
C. $661.96/monthto the group
Page E
“Highest Interest First” Method = 3 Yrs 10 Mos “Shortest Term
First” Method = 4 Yrs
PowerPay! Pay your Creditors
as a group!
The Career Family is already paying
$661.96/mo to their creditors;
what method would you pick and why?
Page F
http://www.consumerfinance.gov/
http://www.illinoisattorneygeneral.gov/consumers/index.html
http://www.iowaattorneygeneral.gov/protecting_consumers/index.html
Your local base Staff Judge Advocate and Family Service Center
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