As
a member of the National Guard community, you may expect to encounter a number of
changes throughout the course of your service, civilian career, or family life.
Knowing what to expect from each of these life phases is the first step to becoming
financially aware and anticipating your financial needs in order to make positive
choices.
Below is a graphic representation of the common financial phases Service Members
and their Families may experience.
Click on a phase to jump to its definition.
PHASE ONE: “Welcome to the Guard!”
Learn
what financial developments to expect now that you’ve joined the National Guard.
Topics:
- Your Pay and Benefits
- Allotments and Deductions
- Thrift Savings Plan and Risk Tolerance
Phase One Details
Back to Top
PHASE TWO: Basic Money Management.
Here,
you’ll learn the basics of managing finances, from accruing savings, managing debt,
to balancing a budget.
Topics:
- Income & Outgo
- Budgeting and Debt Management
- Building Savings
- Safeguarding your money
Phase Two Details
Back to Top
PHASE THREE: Buying a ride.
Purchasing
a car is the first significant investment many people make – learn how to manage
loans, get insured, and pay off your new set of wheels.
Topics:
- Title and Payday Loans
- Car Loans
- Annual Percentage Rate/Annual Percentage Yield
- Bank or Credit Union?
- Rolling the Loan
- Insurance
Phase Three Details
Back to Top
PHASE FOUR: Protecting your identity.
Don’t
let identity theft ruin your credit. Learn how to keep your finances safe from scammers
and what to do if your identity has been compromised.
Topics:
- Reporting
- ID Theft
- Phishing
- Predatory Lending
Phase Four Details
Back to Top
PHASE FIVE: Buying a home.
Before
you sign off on that mortgage, go to Phase five for tips that will help you decode
the real estate process and choose the best mortgage for you.
Topics:
- Home Loans
- Credit Reports
- Debt-to-Income Ratio
- Homeowner’s Insurance
- Home Equity Line of Credit
Phase Five Details
Back to Top
PHASE SIX: Getting deployed.
Once
you’ve been notified of a deployment, don’t wait to prepare. Learn ways to settle
your affairs before you depart for your next assignment.
Topics:
- Creating a Will
- Powers of Attorney
- Financial Directives
- Tax-free Dollars and Bonuses
- Savings Deposit Programs
- Trusted Agents
Phase Six Details
Back to Top
PHASE SEVEN: Getting married.
With
marital bliss comes new financial terrain to navigate. Find out how marriage affects
your money, and learn how to include your spouse in your financial affairs.
Topics:
- Setting up Beneficiaries
- Benefits of Marriage
- Legal Documentation
- Re-evaluating Insurance
Phase Seven Details
Back to Top
PHASE EIGHT: Planning your retirement.
The
end of a military career can be a new beginning, especially when you and your family
have planned ahead for retirement. Get the facts on wrapping up your National Guard
service and moving on to the next phase of your life.
Topics:
- Survivor Benefit Plan (SBP)
- Servicemembers' Group Life Insurance (SGLI) and Conversion
- Social Security
- Retired Pay Application
- TRICARE
- Veterans Affairs (VA) Disability
Phase Eight Details
Back to Top