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Department of Defense Update Personal Financial Readiness Dave Julian Director OSD Office of Personal Finance Mili

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Department of Defense Update Personal Financial Readiness Dave Julian Director OSD Office of Personal Finance Mili

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    1. Department of Defense Update Personal Financial Readiness Dave Julian Director OSD Office of Personal Finance Military Community and Family Policy

    5. Financial Issues Budgeting Debt Management Savings Credit

    6. The Pillars of Personal Financial Readiness

    7. Military OneSource Financial Services Financial Counseling Financial Planning Tax Consultations On-line Tax Filing (Federal and State) Referrals Educational materials and calculators Free “wellness resources” (Morningstar in e-Library)

    8. Network of Financial Professionals Part of Military Family Life Consultant (MFLC) Program AFC, CFP® and/or ChFC certified Briefings, one-on-one counseling, education & training 800+ in network On-demand, surge, rotational assignments Pre-/Post-deployment, reintegration, Yellow Ribbon Rotations: 30-, 60-, 90-day assignments Role: Support the installation/unit PFM

    9. Military Saves 2010 Partnership with Consumer Federation of America 21-28 Feb 2010 Logo & Slogan FI’s: Incentivized savings programs and products Saver Pledge www.militarysaves.org

    10. Military Saves 2010 PFC Support for Events (21 Feb – 5 Mar):

    11. Key Issues DoD Policy & Awareness (Financial Education) DODI 1344.07 “Personal Commercial Solicitation on DoD Installations” DoD 7000.14R Financial Management Regulation (Vol 5, Ch 34) Consumer Financial Protection Agency Legislation Auto sales and financing industry Continuing to watch: Predatory loans/practices, O/D fees, scams/ID theft

    12. How Defense Credit Unions Can Help Continue to provide low cost products & services Continue to be accessible Be proactive in providing educational services Meet with installation/unit leadership Know your installation Personal Financial Manager Attend events, clinics, picnics Make appropriate referrals Military One Source, other DoD financial partner resources Know, understand Service members and families Local demands, stresses of deployment Unique challenges

    13. “Financial Readiness = Mission Readiness” Good credit Financial stability Regular savings Contribute to TSP Don’t Opt-Out for SGLI Low % loans Security Clearance

    14. Thank you for your help in educating Service members and families to make sound financial decisions. Thank you for your 47 years of service to our Military!

    15. Questions? Dave Julian Director, Office of Personal Finance David.julian@osd.mil 703-588-0048

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