Photo By Lance Cpl. Peter Sanders | Diana D. Smith leads a discussion on financial options, including basic investments,...... read more read more
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CAMP FOSTER, OKINAWA, Japan – Service members and civilians came together the week of June 16-20 for a personal financial management training workshop held at the Marine and Family Life Counseling classroom on Camp Foster.
The participants learned to serve as command financial specialists for their respective authorities, according to John Daskauskas, an instructor and PFM specialist with Marine Corps Community Services.
“Information changes, sometimes without the service member realizing it,” said Daskauskas, a New York City, New York, native. “We’re making sure the new CFSs have the newest information, and know how to keep up with changes.”
With the high operational tempo of units overseas, financial concerns can be placed on hold, according to Daskauskas.
“(Service members) are so focused on the overall mission; finances are often put off or forgotten in order to get everything else done,” said Daskauskas.
The purpose of the CFS is to function as an intermediary between the individual and the PFM specialists, giving the PFMS the opportunity to spend more time with sections as a whole during financial training, as well as on the frequent workshops offered, according to Gene DeFrietas, one of the instructors and a PFMS with MCCS.
Numerous trained financial advisors ensure financial decisions are well-informed, according to Diane D. Smith, a guest speaker and member service representative with a local financial institution.
“One of the most common mistakes I see people making are misinformed or uninformed decisions,” said Smith. “There are countless tools out there to help understand the options and how to use them.”
Simply having tools does not ensure the user knows how to use them, according to Katrina M. Horsley-Watts, a participant, and family readiness officer with 3rd Law Enforcement Battalion, III Marine Expeditionary Force Headquarters Group, III MEF.
“There’s a great deal of information at our fingertips,” said Horsley-Watts. “That said, all the information is useless if you don’t know how to use it; that’s where we come in. We’re here to show you how to use all of that information.”
Once a financial difficulty becomes a serious problem, a service member’s career could easily suffer the consequences, according to Daskauskas.
“One of the leading causes for security (clearance) problems relate to finances,” said Daskauskas. “Over 85 percent of security clearances being denied or lost is because of bad finances.”
The financial advisors are not reserved solely for problem resolution, according to Daskauskas.
“Don’t wait until you’re over your head to see one of our PFMS or a CFS,” said Daskauskas. “We can help with problems before they become emergencies.”
The sentiment was shared by Petty Officer 1st Class Gregory S. Haywood, a participant and chaplain’s assistant with Marine Aircraft Group 36, 1st Marine Aircraft Wing, III MEF.
“All we have to do to prepare for a solid future is set ourselves up now,” said Haywood, a Miami, Florida, native.
A theme echoed throughout the seminar by each presenter and participant is talking to those who are financially trained, so everyone can better manage their finances, according to Smith.
“(We) can’t stress the importance of education loudly enough,” said Smith. “Educate yourself and others any way you can. There are people whose sole job is to help you understand everything from pay stubs to credit scores.”
| Date Taken: | 06.17.2014 |
| Date Posted: | 06.23.2014 23:49 |
| Story ID: | 134137 |
| Location: | CAMP FOSTER, OKINAWA, JP |
| Hometown: | ATTLEBORO, MASSACHUSETTS, US |
| Hometown: | AUSTIN, TEXAS, US |
| Hometown: | DENVER, COLORADO, US |
| Hometown: | MIAMI, FLORIDA, US |
| Hometown: | NEW YORK, NEW YORK, US |
| Hometown: | SACRAMENTO, CALIFORNIA, US |
| Hometown: | TOPEKA, KANSAS, US |
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