A financially focused service member is a mission-ready service member!
The Department of Defense’s Office of Financial Readiness, or FINRED — in collaboration with the services, federal partners and non-federal entities — provides programs, policy, education, advocacy and program oversight required for service members and families to achieve personal financial readiness in support of mission readiness.
The FINRED website — along with the MilSpouse Money Mission website and the mobile app, Sen$e — is part of this effort. These platforms keep our service members mission ready by being a hub of official information, articles, tips and tools that meet our service members and their families where they are on their financial journeys and guide them toward their financial goals.
Where to start?
The FINRED website is brimming with useful information on everything from knowing your benefits and entitlements, managing your money and saving and investing to planning for the future and understanding consumer protections. The site also offers easy-to-use interactive tools and how-to videos to make for a more organized financial management process.
For practical advice from a personal perspective, check out the Money in Real Life blog by selecting the “Trending Topics” tab on the homepage. From choosing how much to spend on that post-deployment celebration, to calculating the cost of a PCS, to budgeting for the holidays and everything in between — these are the real-life choices and goals being made by service members and their families, day after day! Money in Real Life shines a spotlight on these everyday money matters to help you reach your financial goals.
Are you a military spouse?
Military spouses often manage the finances in their households, but they don’t have to go it alone! MilSpouse Money Mission, launched by the DoD, is a financial education website made just for military spouses to empower them in leading their families to stronger financial futures. Created by a team of financial professionals who understand military life because they have experienced military life, the site explores topics most relevant to military families’ current situations and needs. Access the site through a tab at the top right of the FINRED website.
Are you into technology?
Using technology to assist in managing your finances may help you stay organized, and FinTech — those technological solutions that build, automate or improve financial services and processes — is featured throughout the website to help you keep track of your personal finances.
Some popular applications include:
- Sen$e — Strengthen your financial technology arsenal with this no-cost mobile app that helps service members assess financial readiness, create a personalized spending plan and access financial calculators and resources. Sen$e is available in both the Google Play and iOS app stores.
- Personal Net Worth Tracker — Tracking your net worth is a key part of becoming financially stable and building wealth. Use this tool to track your assets (what you own) and liabilities (what you owe) and calculate your net worth over time. Find the Personal Net Worth Tracker by selecting the “Tools and Additional Resources” tab at the top of the FINRED website.
- Financial Well-Being Assessment — You go to the doctor to check on your physical health but when is the last time you checked on your financial health? Answer just 12 simple questions and the Financial Well-Being Assessment can help you conduct a “checkup” on your financial health. No matter where you are in your military career, taking time to assess your financial well-being can provide insights into whether you’re on the right path or have some areas to improve. Find the Financial Well-Being Assessment by using the top tab of the FINRED website. It is also available through the “Tools and Additional Resources” tab.
Want personalized information?
FINRED recently launched three eNewsletters tailored to service members, military spouses and service providers. Sign up today to get the latest editions sent directly to your inbox. They are chock-full of military-related financial information from how to build wealth to tips for financial success! The issues are archived to ensure that you don’t miss a thing!
These platforms are constantly evolving so be sure to check back often and follow @DoDFINRED on Facebook, Twitter, Instagram and YouTube.Read comments