Photo By Roland Balik | From the left, Jennifer Aubrey, Accredited Financial Counselor®; Elissa St. Aubin,...... read more read more
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DOVER AIR FORCE BASE, Del. – Is your financial health in check? Do you need an assessment of or help with your current financial situation? If so, the 436th Force Support Squadron Military and Family Readiness Center’s financial counselors can help you get on track.
The M&FRC Personal Financial Readiness program offers a variety of financial education workshops covering car buying, home buying, credit, debt, identity theft, budgeting, Blended Retirement System and Thrift Saving Plan. In addition, counselors provide informational sessions at Airman Leadership School, First Term Enlisted Course, Informed Decision, and at pre- and post-deployment events.
Three financial counselors located at the M&FRC are Jennifer Aubrey, Accredited Financial Counselor®; Elissa St. Aubin, Certified Personal Finance Counselor®; and Brett Abbas, CPFC®. A fourth resource is Dover AFB’s mission partner, John “Theo” Dressler, CFP® , a Department of Defense contractor who works in tandem with M&FRC counselors and provides similar services as the M&FRC.
“All military personnel and their families, retirees, widows, and civilian employees, may use M&FRC services, including financial counseling,” said Aubrey. “One-on-one appointments [are available] based on individual, couple and family needs and goals.”
Financial distress can occur regardless of age, sex, rank or income level.
The biggest misconception about coming in for financial counseling is that people are doing something wrong and need help. While this is sometimes the case, frequently, clients just want to do a health check on their finances.
“The majority of our clients are in the 18-24 year-old age bracket, although we do see people for financial counseling across the age spectrum,” Aubrey noted.
The top three areas that cause a need for financial counseling are credit, debt and budgeting.
Aubrey explains, “The formula for debt-to-income ratio (DTI) is: add up all monthly debt payments and divide by your monthly gross income (before deductions). Then, multiply by 100 to get your debt-to-income ratio. Desired DTI is any number less than 36 percent, meaning less than 36 percent of your gross income goes towards debt.”
Airmen's biggest mistake tends to be purchasing a house or car that is above their means.
“Thirty-five percent or less, you're doing well in general, 36 to 41 percent is acceptable to most lenders but you might want to take a closer look on lowering your total debt load, 43 to 50 percent is likely a problem and should work on it, 50 percent [and above], definitely seek counseling and work out a detailed repayment plan,” said Dressler.
Dressler further stated, “I have seen car payments in excess of 50% of the member’s total take-home pay, then add insurance, repairs and maintenance to that bill.”
There are privacy protections established for those who seek and/or receive counseling.
“We do not have privileged communication,” said Aubrey. “If leadership makes the appointment for someone, we may provide them general feedback about the consultation, but normally will not go into specific details. Additionally, M&FRC personnel must report harm to them or others.”
The DoD contractor adds additional means of privacy to those seeking counseling.
“I work confidentially,” said Dressler. “Other than duty to warn, all conversations with members are strictly in confidence. I don't keep notes on conversations and services provided to members. My cell phone and computer are both company-provided and use wifi, I don't use military phones or computers for any work that I do with members.”
Seeing clients achieve financial health is a common goal of the counselors.
“Personally, my greatest job satisfaction comes when a client sets their goals and does the work to achieve those goals, they come back and say, ‘I made it!’” says Aubrey.
Dressler echoes the same feeling.
“[I] totally agree, having a member come back showing off their zero balance credit cards that had been maxed out, and those and others wanting to get more into investment and financial planning discussions about their financial future and retirement goals makes it all worthwhile. When you see the look in their eye that ‘I get it!’ That makes me smile.”
M&FRC financial counselors can be contacted at 677-6930 and the DoD contract financial counselor at 302-382-8988.
| Date Taken: | 02.28.2025 |
| Date Posted: | 02.28.2025 14:37 |
| Story ID: | 491778 |
| Location: | DOVER AIR FORCE BASE, DELAWARE, US |
| Web Views: | 18 |
| Downloads: | 0 |
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