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United States Navy
Military and Family Support Center
118 Brookley Avenue, Bldg 13
Washington, DC 20032
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.
The Personal Financial Management Program at the Military and Family Support Center assists eligible individuals on a full range of financial matters to include basic financial planning, savings and investment education and assistance, insurance, credit and debt management, personal financial statements, retirement planning through Thrift Savings Plan (TSP) and other qualified retirement plans, IRAs, major purchases including real estate and automobiles, college savings programs, tax issues, evaluating uniformed services' "Career Status Bonus" program, and a variety of consumer-related issues.
The First Term Airman Center financial class is mandatory for all Airmen on their first duty assignment.
While drawing advanced pay may seem like an attractive option, be careful! The automatic repayment schedule may drastically reduce your monthly income at a time you need it most, as you get settled into your new home.
Washington D.C. and the surrounding national capital region is a high cost of living area! Many tips on dealing with the costs encountered while living here are available through these and other programs and services.
While most of these high costs are associated with housing, everything else is relative. Your actual cost-of-living expenses will vary and depends on a variety of factors, to include where you chose to live (Maryland, Virginia, or the District), the size and specific location of your home or apartment, whether you rent or buy, etc.
Initial up front moving-in expenses can vary as well, but you may want to plan on an amount up to about $2,000. To help off-set these costs however, you may be eligible to participate in the Military Set Aside Housing program. This is a rental partnership program that the military has with some local rental agencies. In most cases, rents are equal to or lower than your BAH and there are no application fees, no move-in deposits, no credit checks, and no income requirements. To find out more about this excellent program, contact the base housing office.
Should you find that you need emergency financial assistance during your move, help may be available; for example, from the Air Force Aid Society at 301--981-7087.
The Navy-Marine Corps Relief Society can provide interest-free loans or grants to help with emergency needs: