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United States Navy
FFSC Oceana: Personal Financial Management Program
1896 Laser Road
Bldg. 531, Suite 120
Virginia Beach, VA 23460-2281
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 Management Program
The Fleet and Family Support Center's Personal Financial Management (PFM) Program goals are to:
The Fleet and Family Support Center (FFSC) provide individual financial counseling sessions to all service members and their families. To assist you and your family in being financial prepared the FFSC offers workshops on topics including basic money management, investing, home buying, credit card management, car buying, consumer awareness, TSP, and much more.
Protect your financial health- it is important to You and Your Career. Need help with your Finances? How to seek help:
Watch your money carefully while in transit; many unexpected expenditures can deplete your resources quickly! To help prepare for the move, stop by your local Personnel Support Detachment (PSD) and ask about the following entitlements: Per Diem, Temporary Lodging Allowance (TLA) for OCONUS, Temporary Lodging Expense (TLE) for CONUS, Mileage in Lieu of transportation (MALT), Advance Pay and most importantly Dislocation Allowance (DLA).
Advance Basic Pay can be drawn up to 60 days prior to your move. Up to three months worth of advance pay can be drawn with PCS orders and must be approved by the Commanding Officer (CO). Repayment is made in equal installments over 12 months or extended to 24 months with CO approval. Remember when taking Advanced Pay, repayment starts immediately reducing your monthly income, in some cases, drastically. Also, don't forget the loss of your spouse's income until you are settled in your new area.
If you will be staying in temporary lodging upon arrival, expect to pay at least $85.00 per night at local hotels but to into account prices will vary based on location and season. When asking for rates be sure to ask for a military discount! There are Navy Lodges at NAVSTA Norfolk, NAS Oceana-Dam Neck Annex, and JEB Little Creek/Fort Story located near/on bases.
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?
HousingHomes 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 apartment rentals can range from $700.00 for a one bedroom to $1800.00 for a three bedroom 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 (BAH) for Hampton Roads and the Peninsula currently ranges from $1100.00 to $2200.00. Need a second opinion? Before you sign on the dotted line, have the Navy Legal Service Office look over your contract.
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.
Virginia law requires the following minimum insurance coverage for all registered vehicles.
Note: Lesser amounts of insurance are acceptable if they meet the minimum requirements for the state the vehicle is registered in.
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 services 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. 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.
Things to keep in mind while Transferring
Resources to assist you with travel emergencies:
TRICARE Prime and Transferring
If you are enrolled in TRICARE Prime and there is a medical emergency such as a case of a life, limb, or eye sight, go to the nearest hospital and remember to call your TRICARE Prime office within 24 hours after the emergency for authorization to avoid costly co-pays. For other medical care, call your TRICARE Prime office before seeking medical assistance, again to avoid costly co-pays. TRICARE will be able to assist you in locating a provider for you to see in the area. Virginia is located in the TRICARE East Region.