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Before You Take Off: Financial Planning for Deployment. Facilitator’s Name Date. Objectives. Identify documents important to effective financial planning for deployment. Discuss the importance of having a financial management plan during deployment. Update Important Documents.

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Before You Take Off: Financial Planning for Deployment


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Presentation Transcript
slide1

Before You Take Off:

Financial Planning for Deployment

Facilitator’s Name

Date

slide2

Objectives

  • Identify documents important to effective financial planning for deployment.
  • Discuss the importance of having a financial management plan during deployment.
slide3

Update Important Documents

  • Defense Enrollment Eligibility Reporting System (DEERS)
  • ID Cards
  • Will and Living Will
  • Beneficiaries on accounts
  • Powers of Attorney (POA)
spending plan
Spending Plan
  • INCOME
    • Wages/Salary
    • Alimony
    • Child Support
    • Retirement income
    • Social Security
  • EXPENSES
    • Savings/Emergency
    • Food
    • Housing
    • Utilities
    • Transportation
    • Insurances
    • Clothing
slide5

Know Your Income

  • Basic Pay
  • BAH, BAS, Per Diem
  • Family Separation Pay
  • Incentive or Special Pay
  • Hostile Fire/
  • Imminent Danger Pay
  • Combat Zone Tax Exemption
slide7

Anticipate Expenses

  • Regular Expenses
    • Rent/Mortgage
    • Utilities
    • Transportation
    • Insurance
    • Savings
    • Debt Payments
  • Deployment Expenses
    • Uniforms
    • Storage Fees
    • Packages/Stamps
    • Child care/Maid Service
    • Meals away from home
slide8

Develop a Plan

  • Financial arrangements
    • Financial Caretaker
    • Direct Deposit
    • Allotments
    • Automatic bill pay
  • Taxes
    • Automatic 60-Day filing Extension
    • 180-Day Automatic Combat Zone Extension
    • POA or Spouse
    • Help www.militaryonesource.com
    • (FREE tax preparation or questions) 1-800-342-9647
savings
Savings
  • Emergency savings
  • Revolving savings
  • Long-term savings
    • Saving Deposit Program
    • Thrift Savings Plan
slide10

Insurance

  • Service Members’ Group Life Insurance (SGLI)
  • Family Service Members’ Group Life Insurance
  • (FSGLI)
  • Traumatic Injury Protection Under Service Members'
  • Group Life Insurance (TSGLI)
slide11

Protect Your Identity

  • Credit Bureaus:
    • Equifax 1-800-525-6285
    • www.equifax.com
  • Experian 1-888-397-3742
    • www.experian.com
  • TransUnion 1-800-680-7289
    • www.transunion.com
    • Register an “active duty alert”
    • Order your free credit reports at www.annualcreditreport.com
slide13

Objectives

  • Identify documents important to effective financial planning for deployment.
  • Discuss the importance of having a financial management plan during deployment.
slide14

Before You Take Off:

Financial Planning for Deployment

  • The Department of Defense YRRP adapted this briefing from the Army Community Service (ACS) Mobilization and Deployment Program

Facilitator’s Name

Date