1. GENERAL MONEY MANAGEMENT
ELEMENT 45
ADC Schinke, Scott

2. GENERAL MONEY MANAGEMENT PURPOSE
Creates financial readiness upon transition
Outlines awareness of financial stability
Provides resources to aid in budgeting and planning

3. REQUIREMENTS AND RECOMMENDATIONS
Must produce a 12-month post military budget
Good rule is to have at least 3-6 months of living expenses in savings
See a financial specialist for counseling
Be honest and realistic

4. BUDGETING Budget is a financial statement to reach financial goals
Balance sheet describes a financial condition showing assets, liabilities, and net worth
Cash flow is income and expense transactions that have taken place over a period of time

5. DEBT MANAGEMENT
A systematic way to help individuals if they are in debt become debt- free
Debt management programs can only help to a certain extent
Typically offered through the Family Support/Service Centers

6. RESOURCES Family Support/Service Centers Command Financial Specialist

7. SUMMARY Discussed the purpose of general money management
Reviewed requirements, recommendations, and good practices
Explained budgeting and debt management

8. QUESTIONS ?