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Redstone Arsenal

AN OFFICIAL ARMY FAMILY AND MWR SITE

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:


(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. Learn more at the official Thrift Savings Plan website.

 

(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 BBB Military Line to learn more.

 

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P$yFi (Psychological Finance) Classes begin at 11 a.m. CST

JUN 27, Saving and Investing Beyond Your 401(k): Not Just for the Rich 

Have you had the itch to save and invest beyond your TSP, Roth, or other 401(k)?  You’ll be surprised to discover the dos and don’ts.  Co-led by Redstone Arsenal’s Personal Financial Counselor, learn the tricks of the trade from a Certified Financial Planner and taxation expert.  P$ychological implications will also be discussed, challenging the imagery associated with saving and investing while offering tools to assess your personal investment philosophy (aka what you’re willing to stomach). Link to join

SEP 4, Compulsive Spending: Unpacking What You’re Really Trying to Buy 

Although not classified by the American Psychiatric Association as a disorder, there is clear evidence we engage in disordered spending.  Shopping addiction even receives honorable mention as a behavioral addiction, providing a lens in which to view this as a pattern of expectant behavior where we create and accept risk that will lead to greater reward.  This class will 1) help you unpack what it is you’re really seeking to buy; 2) increase your knowledge of what compulsive spending is and isn’t; 3) validate the struggle; and 4) provide practical behaviors to slowly incorporate for sustainable change.  Whether you or someone you love is the compulsive spender, this is a must-see. Link to join.

DEC 4, Elephants, Couples, and Finance 

There’s an elephant in the room and his name is Finance.  This workshop will provide helpful tips and guidance on addressing financial decisions as a couple.  We’ll expose the elephant together by uncovering 1) effective communication strategies; 2) reasonable and obtainable goals from a team approach; and 3) why we think, feel, and behave with money the way we do. Link to join

Want more? Check out the P$yFi podcast, where new episodes are posted regularly at The P$yFi Podcast. 

Join the P$yFi Teams Channel for 2022, 2023, and 2024 P$yFi class recordings/resources

Basic Financial Education Program

Virtual classes are offered throughout the year, covering spend-planning, debt management, credit repair, car-buying, home-buying, and several other topics related to finances.  P$yFi (Psychological Finance) is a unique Redstone Arsenal series that elaborates on the psychological aspects of money, examining how we think, feel, and behave with money (see information above). 

If joining online, no need to register; click on Teams.  

The P$yFi Podcast includes biweekly episodes focused on financially-relevant hot topics. 

An annual Financial Symposium is also provided in-person at The Overlook in March, providing a full day of financial classes (look out for registration details).  Certificates of completion are provided for all classes, allowing you to submit for Continuous Learning Points.  All virtual classes are open to anyone.  In-person classes (and Symposium) are restricted to those with access to the installation

Unit/Organization Financial Readiness Training

Financial wellbeing promotes readiness.  Consider booking a group financial wellbeing assessment and interpretation.  Have something else in mind?  Financial Readiness personnel can customize a financial class or briefing to suit your unit or organization’s current needs, whether you’re looking for a light-hearted financial personality class or more preventive class on proper financial management.  Call +1(256)876-6299 to schedule. 

Individual Financial Counseling

Want to improve your relationship with money?  Consider scheduling an individual, couples, or family session with your Financial Readiness Program Manager (FRPM), who is an Accredited Financial Counselor® and Licensed Professional Counselor.  Taking the first step to do something different with your money can be daunting, but your FRPM is equipped to draw out and guide you toward your best hopes by creating a financial action plan.  These individual sessions are available to Servicemembers, DoD Civilians, Military Retirees, and their Family Members.  Call +1(256)876-6299 to schedule your appointment. 

Don’t know where to start?  Choose from our most popular services:

  • Basic Savings and Investment Education
  • Credit Report Review and Credit Repair Education
  • Debt Management and PowerPay Repayment
  • Financial Personality Assessment and Interpretation
  • Financial Transition to Young Adulthood
  • Financial Wellbeing Assessment and Interpretation
  • Marital Financial Counseling
  • Money Management (Cash flow analysis, net worth review, and spend plan creation.)
  • Premarital Financial Counseling
  • Preparing for a Major Purchase (Car, Home, Student Loan)
  • Security Clearance Support and Education
  • Setting Financial Boundaries
Mandatory Financial Literacy Training

Per DoDI 1322.31, all branches of service require financial literacy training that follows the servicemember throughout their financial developmental lifespan, referred to as milestones or touchpoints.  The Army has outlined 13 milestones for Soldiers.  Leadership can review required training through Vantage.  Leadership tools are also available at Financial Frontline - FinancialFrontline.org.  Trainings are offered online at Soldiers - FinancialFrontline.org OR in-person with your Financial Readiness Program Manager, +1(256)876-6299.  The Soldier is responsible for providing the certificate of completion to their Training Manager for DTMS input.