1. Personnel and Readiness Office of Family Policy Barbara Thompson Director, Office of Family Policy/Children &Youth December 6, 2006

2. 2 The Department considers personal financial readiness of Service members and their families to be a significant issue, both to their quality of life and military preparedness. David S. C. Chu

3. 3 Changing the Financial Culture of our Military and Families  Increase personal readiness by reducing the stressors related to financial problems Increase awareness and abilities Increase savings and reduce dependence on credit Increase protection against predatory practices

4. 4 Changing the Financial Culture Financial Education and Awareness Personal Financial Managers (PFM’s) Military Services trained 354,000 Service members and family members in 2005 Financial Education Classes DoD Partnerships DoD has partnered with 26 financial organizations/non- profits Partner organizations trained an additional 61,000 Websites Market available assistance www.militaryhomefront.dod.mil www.militaryonesource.com www.mymoney.gov, www.military.com, www.nefe.org,www.mymoney.govwww.military.comwww.nefe.org www.saveand invest.org

5. 5 Partner Initiatives Moneywise with Kelvin Boston Military Saves Campaign: Feb 25 – 4 Mar 2007 InCharge Institute - 250,000 copies of its Military Money magazine to CONUS and overseas installations The National Association of Securities Dealers (NASD) Foundation established an investor education program.

6. 6 Financial Readiness = Mission Readiness Mission Success Mission Failure Good credit Bad credit Financial stability Bankruptcy Regular savings No emergency savings Contribute to TSP No retirement savings Don’t Opt-Out for SGLI No insurance coverage Low % loans Predatory loans Deployability Clearance issues