Hit the Ground Running: Financial Planning after Deployment (APR 2013)1

Hit the Ground Running:

Financial Planning after Deployment

Facilitator’s NameDate

Hit the Ground Running: Financial Planning after Deployment (APR 2013)2

• Identify tasks necessary to update your financial plan after deployment.

• Assess your needs for employment and how ESGR/USERRA applies to your situation.

• Create a to-do list for reviewing and updating your personal financial plan.

Objectives

Hit the Ground Running: Financial Planning after Deployment (APR 2013)3

Review and Refresh Spending Plan

Savings

Insurance

Update Financial Plan

Hit the Ground Running: Financial Planning after Deployment (APR 2013)4

Spending Plan

• INCOME– Wages/Salary– Alimony– Child Support– Retirement income– Social Security

• EXPENSES– Savings/Emergency– Food – Housing – Utilities– Transportation– Insurances– Clothing

Hit the Ground Running: Financial Planning after Deployment (APR 2013)5

Live Within Your Means

• Create your spending plan

• Pay yourself savings first

• Divide spending into categories

• Fill envelopes by category

• Spend till its gone

• Put any left over in savings

Try an App for your phone that tracks expenses.

Hit the Ground Running: Financial Planning after Deployment (APR 2013)6

Spending by the Envelope System

1. Do these categories reflect how you spend your money?

2. What categories would you add or remove from this list for your purposes?

3. What expenses would you switch from Envelope to Checking Account, or Savings Account?

4. Do you think you could spend out of an envelope?

Hit the Ground Running: Financial Planning after Deployment (APR 2013)7

Check your Leave and Earnings Statement (LES)

Hit the Ground Running: Financial Planning after Deployment (APR 2013)8

Savings

• Emergency savings– 3-6 months income

• Revolving savings

• Long-term savings– Saving Deposit

Program (SDP)

– Thrift Savings Plan (TSP)

Hit the Ground Running: Financial Planning after Deployment (APR 2013)9

Medical Insurance TRICARE, TAMP

Life Insurance

Auto Insurance

Home/Renters Insurance

Dental Insurance

Insurance

Hit the Ground Running: Financial Planning after Deployment (APR 2013)10

Financial arrangements – Allotments– Automatic bill pay

Review/Revoke Power of Attorney (POA) Taxes

Service Members Civil Relief Act (SCRA)

www.annualcreditreport.com

Employment

Other Considerations

Hit the Ground Running: Financial Planning after Deployment (APR 2013)11

Service Member Responsibilities

1. Provide prior notice to your employer.

2. Leave your place of employment to perform military service.

3. Serve under honorable conditions.

4. Not be absent due to military service for more than five cumulative years.

5. Report back to work in a timely manner.

Hit the Ground Running: Financial Planning after Deployment (APR 2013)12

Service Member Rights under USERRA

1. Prompt reinstatement back into their job

2. Accumulation of seniority as if they never left

3. Protection against discharge

4. Immediate reinstatement of health insurance

5. Training and retraining of job skills

6. Protection against discrimination

Hit the Ground Running: Financial Planning after Deployment (APR 2013)13

Issue Resolution

Inform Chain of Command

Contact ESGR : 1-800-336-4590, www.esgr.mil

Contact DOL: 1-866-4-USA-DOL, www.dol.gov/vets

Contact a private attorney (personal cost)

Hit the Ground Running: Financial Planning after Deployment (APR 2013)14

• Identify tasks necessary to update your financial plan after deployment.

• Assess your needs for employment and how ESGR/USERRA applies to your situation.

• Create a to-do list for reviewing and updating your personal financial plan.

Objectives

Hit the Ground Running: Financial Planning after Deployment (APR 2013)15

Hit the Ground Running:

Financial Planning after Deployment

Facilitator’s NameDate