Sequestration-Concerns-550x366

The changing terrain

| May 27, 2016

Army An excellent Army Times interview with new Army Secretary Eric Fanning revealed his thoughts about the state of today’s Army. The term that kept reappearing in the piece was “predictability.” Secretary Fanning feels that soldiers need more predictability in terms of deployments, the DoD budget, continuing resolutions, government shutdowns, sequestration, training and equipment. He stated that he thinks the Army “looks tired” after 15 years of deployments and too little investment in some installations. A large portion of the interview was focused on the Army’s budget, chiefly the “instability” of it. He said predictable funding “allows the Army to better train and equip soldiers.” His top priority as Army Secretary will be taking care of people.

DoD Civilians The Pentagon is requesting from Congress to increase Voluntary Separation Incentive Payment (VSIP) amounts from $25,000 up to $40,000+ for DoD civilians. The Pentagon expects to make approximately 6,000 VSIP offers per year over the next five years, with two-thirds being offered to Army civilians. A Wednesday DoD news article stated the department is restructuring its headquarters in order to save $1.9 billion via a 25 percent reduction of staff costs. The expectation is that over a several-year period, most changes will take place through attrition. Of those remaining who will be affected, nearly 100 percent will be “placed in other positions” or be offered early retirement or a VSIP. “The goal of the restructuring is to reduce costs so DoD can shift those resources into modernization of the force and improving readiness and training.”

 

Sources: armytimes.com, washingtonpost.com, defense.gov

 



Strong Finances Strong Families

Seven tips for managing your money

| May 23, 2016

Frugal living is coming back into style, and military families are proving to be the trendsetters.

The latest findings of the First Command Financial Behaviors Index® reveal military families with household incomes of at least $50,000 are putting more dollars toward savings and reducing debt than other middle-class consumers.

Continue reading...


Sequestration-Concerns-550x366

The changing terrain: NDAA 2017

| May 20, 2016

The House passed its FY17 NDAA on Wednesday, which included several provisions disliked by the Senate and White House. As referenced in last week’s post, the House version calls for a 2.1 percent pay raise for service members, .5% higher than Senate and White House pay raise proposals.

Continue reading...


Common car insurance mistakes

Bare-bones auto insurance: Your out-of-pocket risk

| May 16, 2016

You probably know that each state sets a required minimum amount of auto insurance coverage that you must purchase in order to legally drive. These liability limits are in place to make sure that you have insurance to help you reimburse another party should you be involved in a car accident and be at fault.

Continue reading...


Sequestration-Concerns-550x366

The changing terrain: NDAA 2017

| May 13, 2016

Draft FY17 NDAA

The Senate Armed Services Subcommittee on Personnel approved its draft of the FY17 NDAA on Thursday. The Senate’s version includes a 1.6 percent pay raise for service members, in line with the president’s request, which is .5 percent less than the House’s draft.

Continue reading...


Girl saving money with family at the back

Teaching your children financial responsibility: The basics

| May 9, 2016

It’s never too early to teach your children about finances. And while “finances” may not seem like a word you would usually apply to a child’s allowance, what they learn early on about spending and saving can stay with them for a lifetime.

Continue reading...


Sequestration-Concerns-550x366

The changing terrain: military retirement

| May 6, 2016

Since details of the military’s new retirement system were introduced in late 2015, many people have rained criticism on the new program. Arguments range from putting more of the retirement planning burden on career service members to introducing a more complicated system for which thousands of service members will have to decide: do I opt in or stay put?

Continue reading...


Transitioning from Military Service

Transitioning careers? You have options!

| May 2, 2016

As the Director of Recruiting for First Command, I’ve found military experience is a strong leading indicator for success. Transitioning military servicemembers tend to have the right combination of intangible qualities we look for in candidates – traits like a strong work ethic, a character worthy of trust and a willingness to be coached.

Continue reading...


Sequestration-Concerns-550x366

The changing terrain: NDAA 2017

| April 30, 2016

The House Armed Services Committee passed its draft FY17 NDAA early Thursday morning, by a vote of 60-2. In addition to calling for a 2.1 percent pay raise for service members and a boost in active duty military end strength by 27,000 over Pentagon requests, the bill also includes changes to TRICARE.

Continue reading...


AA035987

Misconceptions about your free credit report

| April 25, 2016

Maintaining good credit — which can help you enjoy preferred rates on loans, even insurance — is like maintaining your good name. You want to be spoken of in only the best of terms. That’s why it’s important to review your free credit report once each year.

Continue reading...