Personal Financial Counselor (PFC) Overview

Department of Defense Military Family Readiness Readiness

Personal Finance

Mission Readiness & Personal Readiness Require:Financial Stability

Sound Personal Financial Behaviors

Personal Financial Counselors (PFCs)

PFC Services Overview

More Information: Presented By: ____________________

• Security Clearance Denied• Age• Away from Support Systems• Responsibilities

• Lifestyle• Frequent Moves• Deployments• Spouse Employment

• Easy Credit• Direct Marketing• Greater Resources• Credit Availability

Challenges Unique to Service Members

PFC Services Overview

More Information: Presented By: ____________________

Financial Mismanagement

ConsequencesMilitary

Negative EvaluationLoss of PromotionReduction in RankLoss of Overseas TransferLoss of Security ClearanceNon-judicial Punishment Administrative Discharge

CivilianNSF ChargeDenied CreditNegative Credit ReportRepossessionForeclosureBankruptcyJail

Service Members are subject to both Military and Civilian consequences of financial mismanagement.

PFC Services Overview

More Information: Presented By: ____________________

PFC Service Goal

Promote Financial Responsibility and Accountability in Money Management

Preventive Financial EducationPersonal Financial CounselingConsumer Advocacy & AwarenessInformation and Referral

Personal Financial ReadinessResponsibility & AccountabilityBuilding Wealth, Choice & Freedom

THROUGH…

WE…

TO ACHIEVE…PFC Services Overview

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Prevention Education• Sound Financial Practices• Financial Pitfalls• Consumer Rights and Obligations

PFC Service TypesEducation

Budget Development financial Goal Setting Record KeepingCash ManagementBankingConsumer RightsInsuranceMilitary PayCredit Critical Life Stages

• Age Appropriate Children & Youth Financial Management Classes

PFC Services Overview

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Financial Counseling Services• Financial Analysis• Budget & Spending Plan Development• Major Purchase Planning• Extended Absence Financial Plans• Tax Planning

PFC Service TypesFinancial Counseling

Debt Liquidation Assistance• Analyzing Assets and Liabilities• Repayment Program• Assistance with CreditorsConsumer Advocacy Services• Identity Theft• Pay-day Loans• Consumer Safety

PFC Service TypesConsumer Advocacy & Complaint Resolution

PFC Services Overview

More Information: Presented By: ____________________

Information & Referral• PFCs stay current on a full range of

services that are available in the local community.

• They have a variety of Resources at their fingertips.• If they don’t know the answer, they will find someone who does.

PFC Service TypesInformation & Referral

PFC Services Overview

More Information: Presented By: ____________________

Summary

Mission & Family Readiness Depend on Financial Stability

Risk Factors in the Military EnvironmentConsequencesProgram GoalsTypes of Services Available

Questions? PFC Services Overview

More Information: Presented By: ____________________