Financial Assistance

Advance Pay -- Soldiers are advised not to take or spend advance pay unless it is absolutely essential. Advance pay will be deducted monthly from your pay going forward. This means you will have less to live on every month until it's paid back in full. Soldiers are advised not to take advance pay to purchase a stereo or car or something you just want. Be even more cautious of considering casual pay.

Dislocation Allowance -- This money is paid at a fixed rate for each grade. You can request an advance of your DLA before departing your old permanent duty station if your dependents are traveling with you. This is paid at 80% of the entitlement. The remainder of the entitlement will be paid when you inprocess into your new PDS. You can also wait until you arrive at your new duty station to claim DLA.

Travel Pay – These funds are based on the distance from your old PDS to your new PDS and can be requested prior to departure from the old PDS.

Per Diem -- Payment of service members permanent change of station per diem varies depending on the mode of transportation. A service member traveling in a privately-owned vehicle receives a mileage rate in lieu of transportation as well as the standard continental U.S. per diem rate. Per diem for commercial travel by air, train, ship or bus is reimbursed using the traditional Lodgings-Plus rate for the new PDS or the rate at any delay point where the service member stops overnight. Per diem for a service member’s spouse, or dependent(s), is reimbursed at a fraction of the per diem rate. See joint travel regulations paragraph 050303 for information regarding PCS per diem for dependents. See JTR section 0503 for more detailed information on PCS travel per diem for service members and their dependent(s).

Your local transportation office must approve a do it yourself move.

Financial Readiness Program

Want to take charge of your finances? The Army's Financial Readiness Program (FRP) and Consumer Advocacy Services can help with comprehensive educational and counseling programs. Learn about debt, consumer advocacy and protection, money management, credit, financial planning, insurance, and consumer issues. Through classroom training and individual counseling, participants can learn how to save and invest money, establish savings goals, eliminate debt, and save for emergencies.

We offer:

• Financial Readiness Program (FRP). FRP provides comprehensive educational and counseling programs in personal financial readiness. The program covers indebtedness, consumer advocacy and protection, money management, credit, financial planning, insurance, and consumer issues. Other services offered include mandatory financial literacy, financial planning for transitioning Soldiers, financial counseling for deployed Soldiers and their Families, and the Department of Defense Family Subsistence Supplemental Allowance Program.
   
• Army Emergency Relief (AER). AER is the US Army's own nonprofit organization dedicated to alleviating financial distress in the force. AER provides grants and zero-interest loans to active-duty and retired Soldiers and their Families. AER has supported over 4 million Soldiers since 1942. AER offices are conveniently located at installations around the world. Visit ArmyEmergencyRelief.org to learn more.
   
• Online Support and Education. Go to Financial Frontline for self-service financial literacy education and help.

Here are some other financial resources for Soldiers and their Families:

• Blended Retirement System. The Blended Retirement System(BRS) combines elements of the legacy retirement system with benefits similar to those offered in many civilian 401(k) plans. Get smart on retirement benefits with the Army Retirement Services Office and Joint Knowledge Online Training
• Financial Readiness Affiliates

(Government Links)

• Thrift Savings Plan (TSP). The TSP is a federal government-sponsored retirement savings and investment plan available to both federal civilian employees and members of the uniformed services. The TSP offers the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans. The retirement income a TSP account provides will depend on working-year contributions and the earnings on those contributions.
• Consumer Financial Protection Bureau (CFPB). The CFPB makes markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products. The CFPB gives consumers the information they need to understand the terms of their agreements with financial companies.

(Non-Government Links, No Endorsement Implied)

• Better Business Bureau (BBB) Military Line.The BBB Military Line provides free resources to our military communities in the areas of financial literacy and consumer protection through the efforts of 112 BBBs across the US.

Visit the website @ Financial Readiness Program (armymwr.com)

Whenever you make a permanent change of station, you are going to be faced with some unusual expenses. Examples of unusual expenses are travel costs, such as tickets, gasoline, food and lodging, tolls, car tune-ups, new tires before the trip and emergency repairs along the way. Other expenses include deposits, such as damage and rent deposits on new apartments, utilities, telephone and cable fees. You will also face extra temporary living expenses, include closing costs if buying or selling a new house, temporary lodging at the old post and at the new post, meals, restocking refrigerators and food pantries, household incidentals, curtains, light bulbs, toilet paper, soaps, cleaning supplies and equipment.

Other financial questions concerning a PCS move are: do we depend on the money my spouse gets from his or her job? How long will it be before he or she can get a new job? Will it pay as well? Will we have to live on less money for a couple of months or more?

Higher cost of living includes not only higher housing and food costs, but also expenses like having to drive farther to work, child care costs and school costs.

It is very important to have a good financial plan prior to your move. The Financial Readiness Program in Army Community Service can assist you with your financial plan when getting ready to move. Some of the services provided are budget development and planning, debt reduction and liquidation, transition counseling and financial planning. Visit the Financial Readiness website for more information.

Visit: Financial Readiness Program (armymwr.com)

The Army Community Service Financial Readiness Program at Fort Rucker, Alabama, is located in the Soldier Service Center, Building 5700, Suite 350. Contact the FRP by phone at 334-255-9631/3765 or Financial Readiness Program (FAP).

The FRP provides soldiers and family members with accurate and current financial information, education and individual financial counseling to ensure they are better able to make educated and informed financial decisions. The FRP has an assortment of services to assist individuals improve their financial well-being and self-sufficiency and reduce financial stressors. Emphasis is on educational workshops and presentations designed to inform individuals regarding money management, debt management and saving and investing fundamentals. The FRP also provides information and support concerning consumer awareness, consumer advocacy and emergency financial assistance.

Individual Financial Readiness Counseling

Individuals may request individual financial counseling or be referred by leadership. Soldiers, Family members, and others desiring to discuss their financial concerns with a financial counselor may contact the FRP to schedule an appointment.

Credit History (reports) and credit scores (FICO) The FRP will assist Soldiers, Family members, and others to obtain and understand their individual credit report and credit score. Options and recommendations will be provided to help with adverse entries and increase credit scores.

Unit Financial Readiness Training

Personal Financial Readiness Training at the unit’s location will be provided as requested by leadership. Classes will be used as part of the Soldier’s unit training. These presentations may be presented at the Soldier’s unit or at other appropriate locations. Leadership may contact the FRP Manager to discuss, coordinate, and/or schedule these presentations.

Financial Literacy Milestone Training

Soldiers experience multiple milestones within their military career which in turn impacts their financial strategies to achieve success in reaching their life goals. To ensure Soldiers receive the necessary education and resources to make important financial decisions common military training has been established for when a Soldier reaches these personal or professional touch points:

• Initial Entry Training
• First Duty Station
• Permanent Change of Station
• Promotion
• Vesting in Thrift Savings Plan
• Continuation Pay
• Marriage
• Birth of First Child
• Divorce
• Disabling Condition/Sickness
• Leadership
• Pre/Post Deployment
• Transition

The training is provided by Accredited Financial Counselors at Army Community Service or can be completed through the Army Family Web Portal. (if the following URL could be linked to the title Army Family Webportal)

Visit the website @Financial Readiness Program (armymwr.com)