UNCLASSIFIED// ATTENTION INVITED TO ROUTINE R 091837Z DEC 11 PSN 716387K32 FM CNO WASHINGTON DC TO NAVADMIN ZEN//OU=DOD/OU=NAVY/OU=ADDRESS LISTS(UC)/CN=AL NAVADMIN(UC) INFO CNO WASHINGTON DC BT UNCLAS QQQQ SUBJ: FAMILYGRAM 06-11 - FAMILY FINANCES UNCLASSIFIED// FM CNO WASHINGTON DC//N1// TO NAVADMIN INFO CNO WASHINGTON DC//N1// UNCLAS//N01754// NAVADMIN 377/11 MSGID/GENADMIN/CNO WASHINGTON DC/N1/DEC// SUBJ/FAMILYGRAM 06-11 - FAMILY FINANCES// RMKS/1. THE HOLIDAY SEASON IS UPON US. IT IS A WONDERFUL TIME FOR FAMILY GATHERINGS WITH MANY OPPORTUNITIES FOR RELAXATION AND ENTERTAINMENT. PROPER HOLIDAY PLANNING AND SAFE TRAVELING IS THE BEST GIFT YOU CAN GIVE YOUR FAMILIES AND FRIENDS. HOLIDAY PERIODS CAN BE PARTICULARLY STRESSFUL WITH ADDITIONAL SOCIAL AND FAMILY REQUIREMENTS AS WELL AS INCREASED FINANCIAL PRESSURES. UNFORTUNATELY, THIS SEASON CAN HAVE DEVASTATING EFFECTS ON FINANCES WITHOUT PROPER PLANNING. INCLUDED IN THIS FAMILYGRAM ARE TIPS AND RESOURCES FOR A COMPREHENSIVE CONTROLLED SPENDING APPROACH AND PLANNING FOR A BRIGHTER FINANCIAL FUTURE. 2. FLEET AND FAMILY SUPPORT CENTER (FFSC) UNDERLINES THAT DURING THIS HOLIDAY SEASON, CONSUMER DEBT CAN ACCUMULATE TO UNMANAGEABLE LEVELS, DRIVING PERSONAL FINANCES INTO THE RED. TWO WORDS CAN INSULATE YOU FROM GOING DOWN THE PATH OF LESS WEALTH AND MORE DEBT - "PLAN NOW!" A. KNOW YOUR FINANCIAL STATUS -- DETERMINE HOW MUCH SAVINGS, DEBT, AND INCOME YOU HAVE; BE MINDFUL OF A SOLID FINANCIAL REGIMEN; MAKE AND FOLLOW A SOUND BUDGET. B. BE REALISTIC IN YOUR BUDGET PLANNING. DISCUSS THIS WITH YOUR FAMILY SO THEY DO NOT HAVE UNREALISTIC EXPECTATIONS. C. DETERMINE HOW MUCH YOU ARE GOING TO SPEND THIS HOLIDAY SEASON. THINK OF HOW MUCH YOU SPENT LAST YEAR AND DECIDE IF YOU CAN STILL AFFORD THAT PATTERN OR LIFESTYLE. D. TRY USING CASH INSTEAD OF CREDIT CARDS. IT'S MORE DIFFICULT TO HAND OVER OUR HARD EARNED CASH THAN SWIPE A PLASTIC CARD. WHEN USING A CREDIT CARD, MAKE SURE YOU CAN PAY BACK THE DEBT WITHOUT BURDEN. SOME CREDIT CARDS HAVE AN ACCOUNT FEATURE THAT SENDS TEXT OR EMAIL NOTIFICATIONS WHEN YOU ARE APPROACHING A PRE-DETERMINED LIMIT. E. DO WHAT IS BEST FOR YOUR SITUATION. DON'T BE INFLUENCED BY THE ACTIONS OF OTHERS AND RESIST MEDIA HYPE. F. MAKE A LIST FOR PURCHASES; AVOID IMPULSE BUYS. G. AFTER THE HOLIDAY SEASON, RECALCULATE YOUR BUDGET AND WRITE DOWN REALISTIC FINANCIAL GOALS. INCLUDE HOW MUCH IT WILL COST AND HOW LONG IT WILL TAKE TO ACCOMPLISH YOUR GOALS. H. OUTSIDE ASSISTANCE IS AVAILABLE. THERE IS AN ARRAY OF FREE ONLINE FINANCIAL TOOLS TO HELP YOU MAKE SMART FINANCIAL DECISIONS. FOR TRUSTED IN- PERSON ADVICE, FFSC FINANCIAL COUNSELORS, COMMAND FINANCIAL SPECIALISTS AND THE OR NAVY/MARINE CORPS RELIEF SOCIETY ARE ALWAYS AVAILABLE FOR ASSISTANCE AND GUIDANCE. 3. IF YOU SEEK OUTSIDE ASSISTANCE, FFSCS OFFER SEVERAL PERSONAL FINANCIAL MANAGEMENT CLASSES AND SEMINARS FOR SERVICE MEMBERS AND THEIR FAMILIES. THEY HAVE ACCREDITED FINANCIAL COUNSELORS AS WELL AS FINANCIAL EDUCATORS THAT ARE AVAILABLE FREE OF CHARGE AND OFFER INDIVIDUAL AND CONFIDENTIAL METHODS IN REDUCING DEBTS AND WORKING WITH CREDITORS. THEY CAN ASSIST WITH CREATING A SPENDING PLAN AND ESTABLISHING A PLAN FOR SAVING AND INVESTING TO REACH YOUR GOALS. VISIT WWW.FFSP.NAVY.MIL. 4. ADDITIONAL ONLINE RESOURCES FOR FAMILY FINANCIAL PLANNING AND MANAGEMENT: A. MILITARY ONE SOURCE PROVIDES SERVICE MEMBERS AND THEIR FAMILIES FREE NEWSLETTERS, WEBINARS, FINANCIAL PLANNING ASSISTANCE, PODCASTS, VIDEOS, AND A VARIETY OF EDUCATIONAL MATERIALS THAT ARE CUSTOMIZED TO MEET YOUR UNIQUE NEEDS. TOPICS INCLUDE MILITARY BENEFITS, BUDGETING, CHILD CARE, CREDIT, FINANCIAL EMERGENCIES, INVESTING, SHOPPING, AND MUCH MORE. GO TO WWW.MILITARYONESOURCE.COM/MOS/NAVY.ASPX, THEN GO TO THE FINANCIAL AND LEGAL TAB AND CLICK ON MONEY MANAGEMENT. B. MILITARYMONEY.COM WAS CREATED AS PART OF DOD'S FINANCIAL READINESS CAMPAIGN TO PROVIDE AN AUTHORITATIVE RESOURCE FOR MILITARY FAMILIES. MILITARY MONEY SHARES INFORMATION ON EDUCATIONAL OPPORTUNITIES, AND FUNDING, SAVING, BANKING, INVESTING, DEBT, AND CREDIT AS WELL AS CAREER AND LIFESTYLE RESOURCES. VISIT WWW.MILITARYMONEY.COM. C. THE FEDERAL RESERVE HAS DEVELOPED "THE CONSUMER'S GUIDE TO CREDIT REPORTS AND CREDIT SCORES." IT DESCRIBES THE CONTENT OF A CREDIT REPORT AND EXPLAINS HOW A CREDIT SCORE IS USED AND THE IMPORTANCE OF PROTECTING PERSONAL CREDIT HISTORIES. VISIT WWW.FEDERALRESERVE.GOV/CREDITREPORTS. D. THE BETTER BUSINESS BUREAU MILITARY LINE HAS A FREE MONTHLY E- NEWSLETTER-"THE TRUSTED SCOUT," THAT ASSIST READERS WITH BEING BETTER CONSUMERS AND AVOIDING FINANCIAL SCAMS. VISIT WWW.BBB.ORG/US/MILITARY/NEWSLETTER. E. IDENTITY THEFT IS THE SUBJECT OF A FEDERAL TRADE COMMISSION WEBSITE OFFERING TOOLS AND RESOURCES FOR MILITARY MEMBERS AND FAMILIES FOR PROTECTION FROM IDENTITY THEFT OR HELP IF YOUR IDENTITY HAS BEEN STOLEN. VISIT WWW.FTC.GOV/BCP/EDU/MICROSITES/IDTHEFT/. F. "MILITARY SAVES," WITH ITS SLOGAN "START SMALL. THINK BIG," ENCOURAGES SERVICE MEMBERS TO MEET IMMEDIATE NEEDS AND BUILD LONG-TERM WEALTH THROUGH SAVING AND DEBT REDUCTION. THE WEBSITE OFFERS MONEY MANAGEMENT TIPS, SAVINGS AND DEBT REDUCTION INFORMATION, AND CALCULATORS. VISIT WWW.MILITARYSAVES.ORG. G. CONSUMER PROTECTION IS THE MISSION OF THE OFFICE OF SERVICE MEMBER AFFAIRS, WHICH IS THE MILITARY ARM OF THE NEW CONSUMER FINANCIAL PROTECTION BUREAU. THEIR GOAL IS TO EDUCATE AND EMPOWER SERVICE MEMBERS AND THEIR FAMILIES TO MAKE BETTER INFORMED DECISIONS REGARDING CONSUMER FINANCIAL PRODUCTS AND SERVICES, E.G., CREDIT CARDS, MORTGAGES, ETC. THIS OFFICE WILL ASSIST MEMBERS AND FAMILIES WITH CONSUMER COMPLAINTS/ISSUES AND MONITOR PROCESS FROM COMPLAINT TO RESOLUTION. VISIT WWW.CONSUMERFINANCE.GOV. 5. LINKS ARE OFFERED AS A CONVENIENCE AND FOR INFORMATIONAL PURPOSES. THEIR INCLUSION HERE DOES NOT CONSTITUTE AN ENDORSEMENT OR AN APPROVAL BY THE DEPARTMENT OF THE NAVY OF ANY OF THE PRODUCTS, SERVICES, OR OPINIONS OF THE EXTERNAL PROVIDERS. THE DEPARTMENT OF THE NAVY BEARS NO RESPONSIBILITY FOR THE ACCURACY OR THE CONTENT OF EXTERNAL SITES. 6. POINT OF CONTACT IS MS. BETTY TALLEY, OPNAV N135F, COMM: (901) 874-4299 (DSN 882) OR EMAIL BETTY.TALLEY(AT)NAVY.MIL. 7. RELEASED BY VICE ADMIRAL S. R. VAN BUSKIRK, N1.// BT #0377 NNNN UNCLASSIFIED//