1. General Money Management
Element 45

2. JAX/Norfolk
Purpose
To prepare you financially for your transition, and to help you develop a 12-month post- military budget (one of the Career Readiness Standards)

3. Why this is important
Separating from the military with minimal debt and at least 3-6 months of living expenses in a savings account will better enable you and your loved ones to handle financial challenges of relocating and changing careers

4. Key Points
Financial counselors and workshops at Family Support/Service Centers can help you develop:
A balance sheet that lists assets, liabilities, and net worth and gives you’re a snapshot of your current financial situation
A cash flow or income and expense statement that clarifies where money came from and where it went

5. Key Points
Financial counselors and workshops at Family Support/Service Centers can help you develop:
Spending plans and budgets that provide a game plan for achieving your financial goals
A debt management program to help you develop spending discipline and pay off debts

6. Resources Financial counselors at Family Support/Service Centers
militaryonesource.mil
Credit report information:

7. Resources www.inchargefoundation.org www.bbb.org/us/Military
Navy Marine Corps Relief Society -

8. Questions?