The Personal Financial Management Program provides free personal financial education, training, counseling, and information and referral. These services are also available for unit training. Appointments are encouraged.

The Navy’s Personal Financial Management (PFM) implements specific requirements that establish a systemic approach to address personal financial management issues for Sailors, families and Navy commands.

Management of personal finances presents an increasing challenge to Sailors and their families. For some, the lack of basic consumer skills and training in how to wisely manage finances sets the stage for financial difficulty. Contributing factors include a high cost of living in some areas of the United States, predatory lenders/lending, high-pressure sales tactics, deceptive advertising, consumer rip-off schemes and a tendency to live beyond one’s means.

Sailors and the Navy have a joint responsibility to address personal financial obligations. Sailors have an obligation to meet the financial needs of their families and pay their just financial debts in a timely manner.

Overall, the PFM program offers information and referral, education and training, as well as financial counseling to address the financial education needs of Sailors and their families. The PFM program is to emphasize a proactive, career lifecycle approach to service members' personal financial responsibility and accountability by providing basic principles and practices of sound money management, counseling tools and referral services using a comprehensive education and training program.

Command Financial Specialist

Command Financial Specialists (CFS) are members of the naval military who are appointed by the commanding officer (CO) to provide financial education and training, counseling and information and referral at the command level. CFS is trained to establish, organize and administer the command’s finance program. The CFS should be the first stop for the military member who has questions or issues about financial readiness.

The OPNAV INSTRUCTION 1740.5D is the regulation outlining the responsibilities and functions of the CFS. 

Financial Services:

Financial Planning

• Goal Setting
• Transitional Challenges

Money Management

• Budgeting and Cash Management
  This information will help you identify where you are financially and assist you in reviewing your financial decision making process. It is difficult to make sound financial decisions if you do not have the correct information to assist you.
• Pay/Allowances
• Use of Credit and Debt
  Credit can be your best ally or your worst enemy. The way you develop your credit file and how you manage it can propel you forward in reaching your financial goals or hold you back and cause your financial plans to be delayed or worse unobtainable.
• Major Purchase Planning

Investment Planning

• Thrift Savings Plan (TSP)
  TSP is one of many tools available to help you maximize your retirement. Finding out what TSP can do for you will help you place the program in your planning process and help you reach your retirement goals.
• Roth IRA's, Traditional IRA's
• Consumer Benefits and Rights

Retirement Planning

• Retirement Planning

Resources

• Annual Credit Report - www.annualcreditreport.com
• Better Business Bureau - BBB Military Line provides free resources to military communities in the areas of financial literacy and consumer protection.
• Consumer Financial Protection Bureau - www.consumerfinance.gov
• Defense Finance Accounting Service (DFAS) My Pay
• DoD Savings Deposit Program
• Entitlements and Benefits - www.defenselink.mil
• IRS - www.IRS.gov
• Identify Theft: Military Personnel & Families Free Credit Report, Report Identity Theft.
• National Automobile Dealers Association Guides - www.nadaguides.com
• Military Consumer Toolkit car buying, buying a house, using lenders and credit, shopping smarter.
• Military Saves
• Blended Retirement System (BRS) for Military Spouses
• Social Security Administration comprehensive information on your retirement benefits, how to apply online, retirement planning tools, Medicare, and more.
• Thrift Savings Plan
• CFS Training Sites and schedules