Readiness SOLDIER TRAINING READINESS S T R M

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Readiness SOLDIER TRAINING READINESS

Readiness SOLDIER TRAINING READINESS

S T R M Terminal Learning Objective Action: Manage your Personal Finances and Understand

S T R M Terminal Learning Objective Action: Manage your Personal Finances and Understand Bonuses Conditions: Given an LES and a sample bank statement in a suitable training location/classroom Standards: Correctly describe how to: a. Determine how to budget your money b. Ensure there are sufficient funds available in your account c. Describe how bonuses are paid out 2

S T R M Meet your Financial Obligations Live the 7 Army Values •

S T R M Meet your Financial Obligations Live the 7 Army Values • Loyalty • Duty • Respect • Selfless Service • Honor • Integrity • Personal Courage 3

S T R M Secure Your Financial Readiness • Getting set up. • Adding

S T R M Secure Your Financial Readiness • Getting set up. • Adding in your Guard pay, benefits, bonuses, perks. • Getting help when you need it. • Army One Source http: //www. myarmyonesource. com/default. aspx 4

S T R M Getting Set Up Figure out where you are now •

S T R M Getting Set Up Figure out where you are now • How much money comes in every month? (All Pay + Tips + Assistance) • How much money goes out every month? (How much you spend every month) Make a Budget • Budgets help you organize your money. 5

S T R M Guard Pay, Benefits & Perks The Guard helps you build

S T R M Guard Pay, Benefits & Perks The Guard helps you build financial readiness by: • Increasing your income • Decreasing your expenses 6

S T R M 10 Warning Signs of Financial Trouble • Overdrawn bank account

S T R M 10 Warning Signs of Financial Trouble • Overdrawn bank account • Making minimum payments only • Arguments about money • Nothing in the savings account • Juggling monthly bills • Charging more than paying on credit cards • Repeated debt consolidation • Spending more than 20% income on credit payments • Not sure how much money you have or where it’s going • Constantly worrying about money 7

S T R M Getting Financial Help UNIT-BASED HELP • Cadre • Financial education

S T R M Getting Financial Help UNIT-BASED HELP • Cadre • Financial education on active duty posts • Chain of Command • Chaplain • Pay Branch CIVILIAN HELP • Bank/Credit Union • Consumer Credit Counseling Organizations • Online consumer credit counseling 8

S T R M Bonuses Why Does the ARNG Give Bonuses? • Bonuses are

S T R M Bonuses Why Does the ARNG Give Bonuses? • Bonuses are given as incentives. • How Are Bonuses Paid Out? • Bonuses are paid out in installments. • Bonuses Can Boost Financial Readiness. 9

S T R M Final Pay Questions and Tasks from Training • Were you

S T R M Final Pay Questions and Tasks from Training • Were you promoted while at training? • Do you have any unresolved BAH issues? • Do you have any other outstanding pay issues or questions? • Travel pay claim process Now that you are home, it is time to identify and take care of any outstanding pay issue you may have. 10

S T R M Terminal Learning Objective Action: Manage your Personal Finances and Understand

S T R M Terminal Learning Objective Action: Manage your Personal Finances and Understand Bonuses Conditions: Given an LES and a sample bank statement in a suitable training location/classroom Standards: Correctly describe how to: a. Determine how to budget your money b. Ensure there are sufficient funds available in your account c. Describe how bonuses are paid out 11