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Smart financial management starts with smart choices

Learn how certain milestones in your life can have financial benefits and consequences.

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The Financial Lifecycle

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

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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

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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

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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

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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

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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

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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

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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

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