Financial Assistance

Fleet and Family Support Center (FFSC) – Personal Financial Management (PFM) Program Overview

The FFSC’s PFM Program is a vital support service for Navy personnel and their families, promoting financial readiness and long-term stability through education, counseling, and resources.

Key Objectives:

• Encourage Smart Money Habits: Support the development of sound budgeting, saving, and spending practices.
• Build Financial Confidence: Equip service members and families with tools to manage finances and achieve financial goals.
• Offer Ongoing Support: Provide financial education and counseling from enlistment through retirement.

Services Provided:

• One-on-One Counseling: Personalized sessions to address individual financial challenges.
• Workshops & Seminars: Cover a range of topics including:
  • Budgeting and credit management
  • Saving and Investing
  • Home buying/renting
  • Thrift Savings Plan (TSP) and Blended Retirement System (BRS)
  • Post and Pre-deployment planning
  • Transition and Retirement planning
  • Insurance, student loans, and teaching kids about money

Why Financial Health Matters:

• Mission Readiness: Financial stress can affect focus and performance.
• Personal Well-being: Good financial management reduces stress and supports overall wellness.
• Future Security: Helps families achieve self-sufficiency and lasting financial stability.

How to Get Help:

• Talk to Your Command Financial Specialist (CFS) - they have tools to help and will respect your privacy
• Visit FFSC for valuable and confidential advice and assistance.
• Explore Additional Resources like the Navy-Marine Corps Relief Society (NMCRS)

The FFSC PFM Program plays a critical role in supporting the financial health and operational effectiveness of the Navy community.

Hampton Roads, Virginia, consists of the "Southside" and the "Peninsula". The area is home to more than 20% of the entire United States Navy! Other services also call Hampton Roads home- MC Camp Allen, Langley Air Force Base, Fort Monroe, Fort Eustis, and NASA. The culturally diverse region is consistently growing and offers something for everyone.

Hampton Roads has many options for your housing needs. There are a lot of parts to the "where to live" decision. Do you have kids and want to check out the schools? Do you want to live near the water or be near your job? Do you want an apartment or house? Rent or own?

Housing

Homes for sale are plentiful in Hampton Roads and prices vary depending on your needs. Apartments, townhouses, duplexes, and condos for rent are plentiful in Hampton Roads. Rents vary greatly, depending on what you're looking for. Average rentals in the Hampton Roads area are around $1785, depending on the location. Some places allow pets, but keep in mind most rentals require a pet deposit. Inquire about a "military clause" before signing a rental agreement. Standard leases in Virginia are for one year, but shorter terms are available. Generally, the cost of living in Hampton Roads is high. Housing costs may be lower on the Peninsula and North Carolina.

The basic living allowance for Hampton Roads and the Peninsula currently ranges from $1,707.00 (E-1, no dependents) to $3,366.00 (O-7 with dependents). Need a second opinion? Before you sign on the dotted line, have the Navy Legal Service Office look over your contract.

Utilities

Utility companies (telephone, water, and gas) require deposits, but these can be waived with a letter of credit from your current utility company. Credit Unions have programs for their members and utility deposit. Ask about military waivers and policies when shopping for service. Prices vary, depending on your needs.

Budget Billing-when setting up new accounts for utilities, be sure to ask about Budget Billing as a way to manage your bills to avoid seasonal fluctuations. The monthly budget bill amount is based on an average of the usage at your address and is assess every 6 months.

Car Insurance

Virginia law requires the following minimum insurance coverage for all registered vehicles.

• Bodily injury/death of one person $50,000
• Bodily injury/death of two or more persons $100,000
• Property damage $25,000

Note: Lesser amounts of insurance are acceptable if they meet the minimum requirements for the state the vehicle is registered in.

Vehicle Registration

Vehicles of armed forces personnel must be registered in their own names or in the name of their legal dependents. If the vehicle is titled in both service member and spouse's names or spouse's name only, there will be a property tax assessment. Taxes are approximately 3% of the assessed value of the vehicle, annually but dependent on the county of registration. This can be quite an expense, especially on a new or late model car.

NOTE: The titled owner of the vehicle must be an active-duty nonresident to qualify for an exemption of annual personal property tax.