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Military and Family Readiness Center – Personal Financial Management
4 W. Castle Street
Fairchild AFB, WA 99011-8536
Contact information for key programs and services at this installation.
Resources are available to help you understand and manage your finances, including one-on-one financial counseling to assist you and your family with financial readiness. Services are designed to focus on money management issues throughout your active-duty lifecycle and into retirement. Financial readiness educational opportunities range from basic planning to long-term investing. Check out the information below to see what’s available at your installation.
Personal Financial Readiness (PFR) Program
The Military and Family Readiness Center (M&FRC) is staffed with Accredited and Certified Financial Counselors who provides information, education, and one-on-one financial counseling to ensure members and families maintain financial readiness. Services are designed to address money management issues throughout a service member’s military life cycle and when transitioning from active-duty service.
Personal Financial Readiness Opportunities Include:
For assistance with Emergency Travel Funds, phone the American Red Cross at 1-877-272-7337
Air Force Aid Society (AFAS)
NOTE: THE M&FRC NO LONGER ACCEPTS OR PROCESSES AFAS ASSISTANCE APPLICATIONS!
APPLY ONLINE AT: The Air Force Aid Society supports the mission of the Air Force by relieving the financial distress of service members and their families with financial and educational assistance and through proactive programs. Emergency Financial Assistance may be available in the form of either Interest free loans/grants for the following:
Community Programs funded by AFAS include:
For more information you may contact the Fairchild M&FRC at 509.247.2246
Cost of Living and Expenses
The cost of living in Spokane county increased significantly after 2020 but has seen a decrease in 2023. Cities surrounding Fairchild AFB include Spokane, Airway Heights, Cheney, and Medical Lake. Although the military provides reimbursement for some expenses, many individuals and families also have expenses that are not reimbursable Ensure that you are informed of your various travel allowances such as DLA, TLF, and Per Diem by contacting your finance office. Be aware of the disadvantages of advance pay and the consequences if you misuse/overuse the government credit card. There is a waiting list for on-base housing as well as a waiting list for the Child Development Center. Your automobile insurance rates may increase. It is important to contact your current automobile insurance company for information on Washington insurance rates and updating your policy.
Home Buying and Rental Options
The median home purchase price as of May 2023 is $441,000 (https://www.realtor.com/realestateandhomes-search/Spokane_WA/overview). The median rent is currently $1220 per month: One-bedroom for $930 and two-bedroom for $1236 (https://www.apartmentlist.com/rent-report/wa/spokane)
Note that rents can exceed $2000 per month for a two-bedroom.
Gas prices range from $4.50 to upwards of $5.00 per gallon.
Prepare for your financial move by developing a personalized spending plan with an M&FRC personal financial counselor. Consider all possible options to ensure you have enough money for first and last month's rent, move-in set up costs, travel expenses and monthly utilities. Monthly utility costs vary by location and size of residence. The M&FRC offers a variety of financial relocation education resources including home buying information, workshops, and one-on-one counseling.