Photo By Airman Joseph Curzi | U.S. Air Force graphic illustration of 2025 National Defense Authorization Act by...... read more read more
COLUMBUS AIR FORCE BASE, Miss. -- Starting in April 2025 all Department of Defense junior enlisted service members will receive a significant pay boost after the U.S. Senate approved a $895 billion dollar defense policy on Dec. 18, 2024.
President Joe Biden signed the Service Member Quality of Life and National Defense Authorization Act into law granting all service members a 4.5% pay raise in January, but in April, an additional 10% increase will go into effect specifically for the ranks of E-1 through E-4. The increase creates a new opportunity for junior service members to prepare for their financial futures.
“The first step for any service member should be to go see their financial advisor on their installation to help determine exactly where they are in their financial lives,” said Ben Paulding, Air Force Military and Family Readiness Center financial counselor. “Having professional guidance can help analyze the top priority on what to do with the extra money.”
The M&FRC provides professional financial planning services for service members and their families at no cost. Through financial education, Airmen are better prepared to execute the mission and enhance their financial readiness.
“Step two is having a budget; how can you be in control of your finances if you don’t know where your money is going?” said Paulding. “The best quality of life you can have starts with achieving financial security.”
The extra income from the 2025 NDAA provides service members with a boost to build long-term financial security. By setting a portion of the raise into their Thrift Savings Plan and or Roth IRA, service members can take advantage of compound interest and build wealth over time. Pairing these investments with a budget that prioritizes debt repayment and emergency savings fortifies financial well-being both now and in the years ahead.
The Air Force has focused on elevating quality of life for service members to strengthen recruitment, retain experienced individuals and ensure efficient performance.
During the August 2024 Air Force Sergeants Association Summit in Houston, Texas, Chief Master Sergeant of the Air Force David Flosi described his vision for quality of life improvements for Airmen and their families to be successful throughout their military journey.
“We can’t talk about readiness without setting those conditions right, it’s an integral part of what each and every service member needs, and we’re absolutely focused on getting it right.” said Flosi.
| Date Taken: | 01.15.2025 |
| Date Posted: | 02.03.2025 14:02 |
| Story ID: | 489990 |
| Location: | COLUMBUS AIR FORCE BASE, MISSISSIPPI, US |
| Web Views: | 9 |
| Downloads: | 0 |
This work, FY25 NDAA Provides Boost for Junior Enlisted, by Amn Joseph Curzi, identified by DVIDS, must comply with the restrictions shown on https://www.dvidshub.net/about/copyright.
No keywords found.
