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United States Navy
Personal Financial Management (PFM)/ Fleet & Family Support Center
21993 Bundy Road, Building 2090
NAS Patuxent River, MD 20670-1132
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.
Please read this section carefully. Regardless of rank, we STRONGLY RECOMMEND that you make an appointment with the Personal Financial Management Program (PFMP) financial experts at your local Fleet & Family Support or Army Community Service Center, and ask them to assist you in developing a "moving budget." Once you have settled in, contact our PFM office listed below and schedule an appointment for developing a budget specific for this area. Be smart - plan ahead!
The Fleet and Family Support Center offers a trained financial counselor (PFM) who will take you step-by-step through the Navy Standardized Curriculum process which involves setting up and effectively managing a basic financial plan. Workshops, counseling, seminars on buying cars, renting or buying homes, and much more are offered. The PFM offers one-to-one counseling to those experiencing money management difficulties or for those who wish to better understand how to budget their finances. To contact: (301) 342-4911
The PFM also trains Command Financial Specialists (CFS), who are members of the unit who are available to assist with basic financial education and assistance. If you are interested in becoming a CFS, contact your chain of command.
The Navy/Marine Corps Relief Society is also there for you with loans if you can't meet your basic living expenses such as rent, food, and electricity. If you need help call them and they will be able to advise you on what services they can provide.
The National Capital Region, including the NAS Patuxent River community, is a high cost of living area. While the best financial plan is to always have low debt obligations and an adequate emergency fund in savings, these guidelines are especially true here. Try to limit your debt obligations - such as new car purchase, furniture or credit cash advances - until you have settled in and get a feel for how your budget will work in this area.
Consider whether you need advance pay and request it only as a last resort. Be very careful when using the Government Travel Card (GTC), as it is easy to get in over your head. The GTC is to be used for PCS-related travel expenses ONLY so please do not use it for unauthorized expenses. If you are unsure about its intended use, please ask your leadership for guidance. Overdue GTC debts may be subject to pay garnishment and may well be subject to punishment under the UCMJ!
The Gateway Inns & Suites (aka VQ) offers single rooms at a rate of appx: $54 and suites for $64 a night. The Navy Lodge is appx: $62 per night and two suites for $95 per night. The Navy Lodge has a wing that allow pets. The cost is $50 per stay for 6 or less nights, and $100 per stay for 7 or more nights, in addition to the normal room rate of $62 per night. There is a max of 2 pets per room, and pet charges are non-refundable. Pets are required to have a Pet Kennel/Cage and current immunization records to stay at the Navy Lodge.
Motels near the base cost between $75 and $124 a night, even at the more inexpensive chains. Some rooms have a kitchen to help families keep costs down. Motels generally have no cooking facilities. Since most of the on-base lodging facilities and most motels do not allow pets, kennel costs will add up. Kennel rates run $35.00 - $50.00 a night depending on the size and type of the pet. Also remember that after ten days the Temporary Lodging Expense (TLE) subsidy stops.
For personnel living off-base, rental rates are high with a 1 Bedroom costing $950 - $1,300 a month, 2 Bedroom $1,150 - $1600, 3 Bedroom $1,200 - $1,750, and 4 Bedroom $1,700 - $2,000. Set up costs consists of a security deposit of one month's rent plus the first month's rent. Application fees run $25-50 each and are not refundable. The Rental Partnership Program run by the Housing Office may help you avoid some of these costs. Apartments participating in this program forgo the application fees and security deposit and sometimes charge reduced rents (-5%). One stipulation of this program is that your rent be paid by allotment. In all cases as you search for living arrangements, ask if any special promotions apply.
Purchasing a home is expensive with prices ranging from approximately $185,000 to $470,000 and above. Closing costs are some of the highest in the United States, averaging 5.5 - 8% of the price of the house. You should always negotiate to reduce these costs in your purchase offer. Since appreciation on homes is not guaranteed, consider whether you will be in the area for at least 4-5 years to potentially recover the costs of buying. Remember that being approved for a real estate loan may not necessarily mean you can afford the payments.
Mobile homes constitute a major financial liability. No mobile homes are allowed on base. Few lots are available in the area, and local zoning severely limits mobile homes on vacant lots. Do not bring a mobile home here until you have secured a lot in advance of its arrival.
Less expensive housing - both in rental and purchase price - can be found by commuting in a range of 15-60 miles each way. While public transportation to the base exists, it's not normally available in the areas where the majority of personnel lives and does not come onto base for pick-up/drop-off.
Utility hook-ups in Maryland are relatively low and range from $68-115 for telephone, cable, and electric combined. Electricity, cable, telephone and possibly water and gas can be expensive. Maryland is considered a southern state as far a climate, and utility bills of $250 - $400 per month for all utilities combined is not uncommon. For more company information, see the Contacts section.
Car Insurance & Registration
Car insurance costs are high for all groups but especially for the single male under 25. Check to see if your company requires a new policy when you move and if it requires an initial deposit to start the policy. If you choose to register your car in Maryland, be prepared to pay a 6% tax on the blue book value of the car, approximately $85 for two years worth of registration, and administrative fees. The 6% tax can be adjusted for active duty military that register their cars within thirty days of arriving. In addition, registering a car in Maryland requires a stringent car inspection, costing from $40-$100.
If you are not establishing residency because you are only temporarily stationed in Maryland and you are a member of the armed forces of the United States and you are on active duty in this State or an adjoining state or the District of Columbia, you do not need to register your passenger vehicle in this State if your vehicle is currently registered in your state of residence.
If you are establishing residency in Maryland you must title and register your vehicle within one year of moving to Maryland. If you delay beyond one year, you will not be eligible for a tax credit for any titling tax paid in another state, and you may be subject to a citation for an out-of-state registration.
The base Child Development centers have a waiting list. Fees are based on the DoD rate standards. On-base in-home childcare providers charge $125 - 200 a week per child, subject to change, and generally give only a small reduction for the second or third child. Off-base licensed providers cost $125-$200 a week. Child care requests can be made at - https://www.militarychildcare.cnic.navy.mil/mcc-consumer/home/viewhome.action
Your Fleet and Family Support Center as well as the Navy/Marine Corps Relief Society can work with you to prepare your own personalized financial plan, (301) 342-4911