Financial Assistance

The Navy’s Personal Financial Management Program exists to provide financial education, counseling and referral to Navy personnel and commands in order to increase personal, family and operational readiness. All personnel are required to meet with their Personal Financial Management Program specialist or the command financial specialist prior to accepting overseas orders.

If you are in need of financial counseling, have questions about saving and investing, or have questions about your financial situation, reach out to the Naval Station Rota financial specialist for guidance and assistance.

For more information, call 727-3232.

Temporary Living Allowance

Your sponsor can assist you with reserving temporary lodging for you and your family. If you do not hear from your sponsor, call your prospective command. The Temporary Living Allowance is based on your family size and the rate of exchange between the euro and the U.S. dollar. This exchange can fluctuate bi-monthly. Families are entitled to a higher amount based on family size and ages of family members.

The Navy Lodge is the only on-base facility available for temporary lodging. If it is unavailable, additional Temporary Lodging Facilities can be located out in town. You should not have to spend any money out of pocket for these facilities.

If you bring a pet, separate arrangements must be made for the animal. This expense is not covered by the government and must be made at your own expense.

Special expenses

The average Navy family will spend on average about $3,000 in out-of-pocket, non-reimbursable expenses with every move. When moving overseas, these up-front expenses can be minimized to some extent by advance planning and saving.

Cost of Living Allowance

The Navy tries to compensate you for the high cost of living expenses incurred overseas. This nontaxable compensation is called a Cost of Living Allowance, or COLA.

COLA is first based on whether you have command-sponsored family members or are single. If you have command-sponsored family members, you will receive full entitlement regardless if you live on base or within the local community. Single sailors authorized to live off base will receive the full single entitlement, while those residing in the barracks will only receive 47% of the single rate. Other factors taken into consideration when figuring COLA are years of service and the number of command-sponsored family members.

The COLA index is based on the rate of exchange between the euro and the U.S. dollar. This rate is evaluated on a bi-monthly basis, and could change monthly. You can expect your paychecks to fluctuate on a monthly basis.

Dislocation Allowance

If you decide to live within the local community, you will need to pay your first month's rent and a security deposit. The security deposit is usually an additional month's rent. All rent is paid in euros. For more information on average rents, see the Housing section of this packet.

Prior to transferring from a duty station, married sailors or sailors with sponsored family members are authorized to receive advance Dislocation Allowance. This allowance is commonly referred to as DLA. Single sailors are entitled to DLA if they shipped household goods to the new duty station, and are granted permission to live off base.

If you receive your DLA in advance, the best advice is to bank it. Use it to assist you in setting up your new household in Spain.

A well-prepared financial plan should help you avoid the need for additional assistance. However, despite advance planning, there are circumstances that are beyond your control. For such circumstances, the Navy-Marine Corps Relief Society is available for assistance.

In addition to the normal outstanding service provided by the NMCRS, they offer financial assistance for your first-year auto insurance premium, on a need basis.

There is only one U.S. banking facility available, the Navy Federal Credit Union. There is no requirement that you have a Navy Federal account. Many service members keep their current stateside bank or credit union.

There are two Spanish banking facilities located on base, BBVA and Banco Santander. 

The Fleet and Family Support Center offers a two-step approach in financial assistance. The first is through education; the second is through individual counseling.

We help service members and their families take control of their finances through individual counseling, both reactive and proactive. Counseling dealing with personal financial and debt management is available on one-on-one or family group sessions.

Additional assistance in reading insurance policies, investment opportunities and long-term financial planning is also available in the above formats.

Financial education is provided in two forms. The training is accomplished through a series of general military training sessions and classroom instruction.

The FFSC also offers the following GMT sessions and classroom seminars: banking and finance, developing a spending plan, credit and debt management, building savings and investments, retirement planning, the ABCs of home buying, car buying, consumer awareness, financing college, military pay issues and insurance. These are available to all members of our Rota community.

For more information, call DSN 727-3232 or 956-82-3232.