Financial Assistance

Personal Financial Readiness (PFR) Program

The Military and Family Readiness Center (M&FRC) is staffed with Accredited Financial Counselors who provide information, education, and one-on-one financial counseling to ensure members and families improve financial literacy and maintain financial readiness. Services are designed to establish a solid financial foundation and provide continued financial education throughout a service member’s military life cycle including transitioning from active-duty service.

Personal Financial Readiness Opportunities Include:

• Establishing financial goals and a budget
• Savings strategies
• Credit education and debt management
• Home and car buying
• Thrift Savings Plan and the Blended Retirement System
• Basic investment education
• Estate planning

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:

• Basic Living Expenses
• Essential Car Repair
• Natural Disasters
• Dependent Funerals
• Falcon Loans

Community Programs funded by AFAS include:

• Bundles for Babies
• Child Care for PCS Program
• Give Parents a Break
• Spouse Employment Education

Financial Assistance for Emergency Travel:

Members seeking Emergency Travel Funds for the death or serious illness of an immediate family member, phone the American Red Cross at 1-877-272-7337.  DO NOT apply through the Air Force Aid Society’s online portal. Have your approved orders and a travel itinerary ready. DO NOT pay for travel in advance.  

Cost of Living and Expenses

The cost of living in Spokane county increased significantly after 2020 and is 3% higher than the national average. 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 Travel Credit (GTC) 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 listing price as of June 2024 is $470,000: Spokane is considered a buyer’s market with the supply of homes greater than the demand. The median rent is currently $1173 per month: One-bedroom for $934 and two-bedroom for $1240.

Gas prices currently range from $3.75 to upwards of $4.50 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 and deposits. 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.

For more information you may contact the Fairchild M&FRC at 509-247-2246