Financial Assistance

The Fleet and Family Support Center's Personal Financial Management Program goals are to:

• Assist Navy personnel in establishing and maintaining sound money management practices
• Empower service members and their families to better manage financial resources and meet financial goals by developing their skills and increasing their knowledge
• Provide a continuum of training, information and counseling services

The Fleet and Family Support Center provides individual financial counseling sessions to all service members and their families. To assist you and your family in being financially prepared, the FFSC offers workshops on topics including basic money management, investing, home buying, credit card management, car buying, consumer awareness, Thrift Savings Plan and much more.

Protect your financial health. It is important to you and your career. Need help with your finances? How to seek help:

• Talk to your command financial specialist; they have tools to help and will respect your privacy.
• Visit one of nine FFSCs in Hampton Roads for valuable and confidential advice and assistance.
• Navy Marine Corps Relief Society - Shipmates provides support for shipmates in financial trouble.
• Banks and credit unions are tasked to help you. Let them work for you!

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 and ask about the following entitlements: Per Diem, Temporary Lodging Allowance for outside the continental U.S., Temporary Lodging Expense for CONUS, Mileage in Lieu of Transportation, Advance Pay and most importantly Dislocation Allowance. 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 $88 per night at local hotels, but take 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 Naval Station Norfolk, Naval Station Oceana-Dam Neck Annex, and Naval Amphibious Base Little Creek located near/on bases.

The Hampton Roads region of Virginia (consisting of Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Newport News and Hampton) is home to one of the largest concentrations of Navy personnel in the world. The region is exceedingly diverse. Parts of Hampton Roads offer a vibrant urban atmosphere, while other areas provide a more traditional suburban lifestyle. The region continues to grow and offers something for everyone.

Housing

Home sale and rental prices vary depending on your needs, including the number of bedrooms, square footage, proximity to employment centers and available amenities.

Apartment rental rates are often comparable to monthly mortgage payments and generally range from approximately $1,400 for a one-bedroom apartment to $2,200 or more for a three-bedroom apartment, depending on location and amenities.

When budgeting for housing, remember to factor in application and processing fees, security deposits, pet deposits, utility costs (if not included) and any required renter's insurance.

The military's basic allowance for housing in the Hampton Roads region can be found on the Defense Travel Management Office website.

Before signing a lease, inquire about a military clause. Standard leases in Virginia are typically for one year, although shorter lease terms may be available.

Need a second opinion? Before you sign on the dotted line, have the Navy Legal Service Office look over your contract.

Utilities

When establishing utility services, ask about military discounts, waivers and special policies available to service members and their families.

Many utility providers may require deposits; however, these deposits can sometimes be waived with a letter of credit or proof of good payment history from your current utility company. Some credit unions also offer programs that assist members with utility deposits.

Ask about budget billing programs when setting up utility accounts. Budget billing helps manage monthly expenses by averaging annual usage costs, reducing seasonal fluctuations in utility bills. Most providers review and adjust budget billing amounts periodically based on actual usage.

Car Insurance

Beginning Jan. 1, 2025, Virginia increased its minimum liability limits. The limits, or the minimum dollar amount covered by car insurance, increased from $30,000 to $50,000 for injury or death of one person, from $60,000 to $100,000 for injury or death of two or more people and from $20,000 to $25,000 for property damage.

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 the 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. This can be quite an expense, especially on a new or late model car.

EXEMPTION OF ANNUAL PROPERTY TAX: To qualify for an exemption, the titled owner of the vehicle must be an active-duty nonresident.