Heroes at Home stress the importance of financial responsibility

  • Published
  • By Staff Sgt. Nick Wilson
  • 509th Bomb Wing Public Affairs
WHITEMAN AIR FORCE BASE, Mo. --  A 19-year-old Airman arrives home after a grueling day on the flightline.  A shaky hand sturdily wields a phone as oil-stained fingertips hastily swipe across a shattered screen.

His heart beats rapidly as he checks his bank account with just a week to go until payday. Tension and uneasiness cloud his mind as he punches in his username and password, not knowing what to expect.

Fortunately, to avoid experiences like this one, the military has resources that help Service members with their finances.

A Heroes at Home financial education event was held at Whiteman Air Force Base, Mo., March 6, 2015. The purpose of the event was to educate Service members on options available to help pay off debt, save money and reach financial goals.

"There are so many military members that are losing security clearances due to financial issues," said Ellie Kay, founder of the Heroes at Home tour. "We're going from base to base hoping to educate about financial literacy so they can be ready when it comes to their finances."

Whiteman was the first of six Air Force bases selected to be a part of the Heroes at Home tour. The next Air Force bases receiving the tour will be: Ellsworth Air Force Base, South Dakota, April 16; Barksdale Air Force Base, Louisiana, May 26; Grand Forks Air Force Base, North Dakota, May 12; and Minot Air Force Base, North Dakota, June 24.

"A lot of Airmen are really good at maintaining discipline, serving their country and having a big world view of what's important in life," Kay said. "Yet those same Airmen are not paying attention to the details when it comes to their finances."

Kay stressed that not paying attention to finances can cause tension among Airmen, their families and the mission.

"I think one of the biggest issues is that Airmen are not setting budgets and living by them," Kay said. "The Airman and Family Readiness Center has personal finance counselors that can help Airmen and their families set up budgets they can live on."

One key issue discussed during the workshop was the concept of how people get further into debt and various strategies that help members come out of debt.

"There is a smart way to buy things," Kay said. "There are some strategies involved for paying down consumer debt so you don't have arguments with your spouses about money. The number one reason for divorce in America, especially among military families, is money issues."

Kay has a book titled, "The Sixty-Minute Money Workout," which shows Service members how to take an hour from each week to discuss money issues with their spouse or personal finance counselor.

"It can transform your life," Kay said. "So that one hour you spend talking about money is very strategic, just like a workout at the gym. Whiteman Warrior readers can request a free copy of "The Sixty-Minute Money Workout" by going to elliekay.com and telling them that they read about this in the Whiteman newspaper and we'll send it to them for free."

Along with the "The Sixty-Minute Money Workout" presentation, Gerri Detweiler, director of consumer education for Credit.com, was also part of the program to show various ways to improve credit.

Detweiler suggested making bill payments as automatic as possible.

"Discipline and a plan go a long way toward building credit," Detweiler said. "You don't always know what's going to be happening next week when that payment is due. If you know bills are already being taken care of, that's one less thing to worry about."

Detweiler also discussed how it's never too late for Service members to work on improving their credit scores.

"The longer you wait, the harder it is to fix a problem," Detweiler said. "Checking your credit score at least once a month can help you stay on top of your credit. A drastic change in your score could be a payment you forgot about and didn't pay or you're mixed up with someone else."

Free credit reports can be obtained once a year at www.annualcreditreport.com. Ellie Kay has a comprehensive list of free online financial assistance tools at http://www.elliekay.com/financial-resource-center.php.

To set up an appointment with a personal finance counselor, contact the Airman and Family Readiness Center at DSN: 687-7132 or commercial (660) 687-7132.