National Guard Family Program
Soldier with child riding piggyback Introduction to Personal Finance
An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.
 

Introduction

Evaluating Your Situation

Budgeting & Debt Management

Goals & Plans

Insurance & Disability Planning

Investment Planning

Education Planning

Retirement Planning

Estate Planning

 

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EVALUATING YOUR CURRENT SITUATION

 

1.

Getting Started

 

1.1

Determine Your Net Worth

1.2

Determine Your Net Income

1.3

Military Pay and Your Leave and Earnings Statement (LES)

1.4

Veterans Eligibility and Benefits

1.5

Basic Allowance for Housing (BAH)

1.6

Clothing Allowance

1.7

Learning Check

 

1.3 Military Pay and your Leave and Earnings Statement (LES)

Size Up Your Financial Situation

Your net worth and net income include assets and benefits that can be determined based on your salary and other benefits - this information allows you to determine your current financial situation.

All military personnel are paid based upon their rank and length of time in service.

Be Careful: Deployment income may be more than you are accustomed to receiving - don't make debt that you can't handle after the deployment is over. For many others, your income will be reduced if you are deployed - all the more reason for good financial planning and emergency savings.

Download Document Right-click on the hyperlink and choose "save target as..." to download all current military pay information for active duty and inactive duty (drill pay) for all ranks.
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