PERSONAL FINANCIAL MANAGEMENT CONCERNS AND FINANCIAL

R 272319Z FEB 08 ZUI ASN-A00058000026 ZYB
FM COMDT COGARD WASHINGTON DC//CG-1//
TO ALCOAST
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UNCLAS //N01754//
ALCOAST  104/08
COMDTNOTE 1754
SUBJ: PERSONAL FINANCIAL MANAGEMENT CONCERNS AND FINANCIAL
ASSISTANCE/COUNSELING OPTIONS
A. CG EMPLOYEE ASSISTANCE PROGRAM, COMDTINST 1740.7 (SERIES)
B. CAREER DEVELOPMENT ADVISOR (CDA) PROGRAM, COMDTINST 1040.4
(SERIES)
C. LEGAL ASSISTANCE PROGRAM, COMDTINST 5801.4 (SERIES)
D. PERSONNEL MANUAL, COMDTINST M1000.6 (SERIES)
1. DURING THIS ECONOMIC PERIOD WHERE WE ARE EXPERIENCING A SLUGGISH
HOUSING MARKET AND RISING PRICES FOR FUEL, FOOD AND OTHER
NECESSITIES, THERE IS GROWING CONCERN THROUGHOUT OUR WORKFORCE
ABOUT FINANCIAL SOLVENCY. AS WE APPROACH ANOTHER TRANSFER SEASON,
THERE HAS BEEN PARTICULAR CONCERN EXPRESSED WITH RESPECT TO THE
HOUSING MARKET. SPECIFICALLY, MEMBERS ARE CONCERNED THAT THEY MAY
ENCOUNTER DIFFICULTY IN SELLING THEIR HOME AT A DECENT VALUE. THESE
PRESSURES MAY PUT ADDITIONAL STRESS ON OUR WORKFORCE AND HAVE THE
POTENTIAL TO IMPACT OUR WORKFORCE READINESS. TO ASSIST CG MEMBERS
IN DEALING WITH THESE ISSUES DURING THIS DIFFICULT TIME, WE HAVE
MADE A NUMBER OF RESOURCES AND TOOLS AVAILABLE.
2. I ENCOURAGE YOU TO REVIEW THE INFORMATION BELOW AS WELL AS SHARE
THIS INFORMATION WITH YOUR SPOUSE AND FAMILY TO ARRIVE AT FINANCIAL
DECISIONS AND REMEDIES THAT WILL BEST MEET YOUR NEEDS AND CONCERNS.
3. VARIOUS FINANCIAL MANAGEMENT RESOURCES AND TOOLS ARE AVAILABLE
AT THE WORK-LIFE WEB SITE AT HTTP://WWW.USCG.MIL/WORKLIFE.  ONCE
THERE, CLICK ON THE "FINANCIAL MANAGEMENT" ICON. SCROLL DOWN TO THE
"RELATED WEB SITES" SECTION, AND SELECT THE VARIOUS SOURCES OF
FINANCIAL MANAGEMENT INFORMATION. OF PARTICULAR INTEREST FOR JUNIOR
MEMBERS IS THE "360 DEGREES OF FINANCIAL LITERACY" WEB SITE OFFERED
BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, WHICH
CAN HELP PROVIDE UNDERSTANDING OF BUDGETING, SAVING AND INVESTING
AS A FIRST STEP TOWARD FINANCIAL FREEDOM.
4. THROUGH THE COAST GUARDS EXISTING EMPLOYEE ASSISTANCE PROGRAM
(EAP) CONTRACT, FINANCIAL ASSISTANCE COUNSELING CAN BE OBTAINED BY
CALLING THE EAP HOT LINE AT 1-800-222-0364. WHEN YOU PLACE THIS
CONFIDENTIAL CALL, YOU CAN DISCUSS YOUR FINANCIAL CONCERNS AND ASK
ABOUT RECEIVING FINANCIAL COUNSELING BY TELEPHONE. TO OBTAIN
INFORMATION REGARDING EAP RESOURCES, CONTACT YOUR REGIONAL WORK-
LIFE OFFICE, OR CALL THE TOLL-FREE NUMBER AT 1-800-872-4957. AN
EXPLANATION OF THE EAP PROGRAM IS CONTAINED IN REF A.
5. YOU CAN ALSO OBTAIN FINANCIAL ASSISTANCE BY CONTACTING YOUR
CAREER DEVELOPMENT ADVISORS. CDAS ASSIST PERSONNEL IN MAXIMIZING
THEIR CAREER POTENTIAL BY DEVELOPING, COORDINATING, AND
IMPLEMENTING A CAREER DEVELOPMENT PROGRAM. THEY ARE KNOWLEDGEABLE
IN GOAL SETTING, MENTORING, VOLUNTARY EDUCATION, ACTIVE DUTY TO
RESERVE TRANSITION, PROFESSIONAL DEVELOPMENT, AND FINANCIAL
MANAGEMENT. DETAILS ABOUT CDAS AND THEIR LOCATIONS CAN BE FOUND IN
REF B.
6. AS PROVIDED IN REF C, SERVICE MEMBERS MAY ALSO CONSULT COAST
GUARD LEGAL ASSISTANCE ATTORNEYS FOR HELP IN ADDRESSING ISSUES
RELATING TO FINANCIAL AND CONSUMER MATTERS. IF NEEDED, THEY CAN
OFFER OPTIONS AND EXPLORE POTENTIAL REMEDIES UNDER STATE AND
FEDERAL LAW, PARTICULARLY THE SERVICE MEMBERS CIVIL RELIEF ACT. TO
FIND A LEGAL ASSISTANCE ATTORNEY, GO TO:
HTTP://LEGALASSISTANCE.LAW.AF.MIL AND SELECT THE "LOCATE LEGAL
SERVICES" ICON.
7. MILITARY SAVES IS A YEAR-ROUND "FINANCIAL READINESS" CAMPAIGN
DEVELOPED BETWEEN DOD AND THE CONSUMER FEDERATION OF AMERICA (CFA).
THE CAMPAIGN OBJECTIVE IS TO INVOLVE ALL LEVELS OF LEADERSHIP IN AN
INTENTIONAL, SUSTAINED EFFORT TO CREATE A CULTURE THAT ENCOURAGES
MEMBERS TO REDUCE DEBT, DEVELOP A FINANCIAL PLAN, AND SAVE MONEY
FOR THE FUTURE. CHANGING FINANCIAL HABITS IS A FORMIDABLE TASK,
THAT REQUIRES EACH OF US TO TAKE PERSONAL RESPONSIBILITY AND
IDEALLY, TO ADOPT A "MILITARY SAVER"
LIFESTYLE. THE COAST GUARD WANTS YOU TO BENEFIT FROM THE MILITARY
SERVICES PARTNERSHIP WITH CFA, AND ENCOURAGES YOU TO USE THE
FINANCIAL MANAGEMENT RESOURCES AVAILABLE TO ASSIST IN ENHANCING
YOUR FINANCIAL READINESS. TO ACCESS MILITARY SAVES FINANCIAL
MANAGEMENT RESOURCES, GO TO: HTTP://WWW.MILITARYSAVES.ORG. UPON
ENTERING THIS SITE, CLICK THE VARIOUS ICONS TO LEARN HOW TO GET OUT
OF DEBT, HOW TO SAVE ON AUTO PURCHASES, SAVE FOR EMERGENCIES, SAVE
FOR A HOME, AND SAVE AT WORK, AND LEARN ABOUT SAVINGS AND
INVESTMENTS. YOU CAN ALSO TAKE THE "SAVER PLEDGE", AND RECEIVE THE
MILITARY SAVER E-NEWSLETTER AND OTHER PERIODIC COMMUNICATIONS. THIS
IS A FREE SERVICE, AND AT NO TIME WILL MILITARY SAVES ATTEMPT TO
SELL YOU ANYTHING. YOU SHOULD NOTE THAT THE USE OF "MY PAY" IS
LIMITED TO DOD PERSONNEL. HOWEVER, YOUR SERVICING PERSONNEL OFFICE
CAN ASSIST YOU WITH MAKING CHANGES TO YOUR ALLOTMENTS, SAVINGS
BONDS, AND THRIFT SAVINGS PLAN ALLOCATIONS AS NEEDED.
8. PART OF BEING ABLE TO MEET MISSION DEMANDS IS ENSURING WE ARE
PREPARED ON THE HOME FRONT - READINESS BEGINS AT HOME. FINANCIAL
SOLVENCY IS A KEY ELEMENT TO ENSURING THAT READINESS. IF YOU ARE IN
NEED OF ASSISTANCE, YOU SHOULD REACH OUT FOR HELP BEFORE THE BURDEN
GETS TOO GREAT, BECAUSE ONLY YOU KNOW WHERE YOU STAND FINANCIALLY.
IN ACCORDANCE WITH REF D, MEMBERS WHO FAIL TO MEET THEIR FINANCIAL
OBLIGATIONS BRING DISCREDIT UPON THE SERVICE, BURDEN THE COMMAND
ADMINISTRATIVELY, MAY BECOME SUBJECT TO DISCIPLINARY ACTION, AND
JEOPARDIZE THEIR ELIGIBILITY FOR A SECURITY CLEARANCE, SCHOOLS,
ASSIGNMENTS AND COMMAND. FINANCIAL DISTRESS CAN ALSO DISTRACT
CIVILIAN EMPLOYEES FROM THEIR WORK AND PUT AT RISK THEIR SECURITY
CLEARANCES. IT IS THEREFORE CRITICAL THAT YOU ARE PROACTIVE AND
TAKE STEPS TO ENSURE YOUR FINANCIAL READINESS. I ENCOURAGE ALL
MEMBERS OF TEAM COAST GUARD TO TAKE ADVANTAGE OF THESE RESOURCES TO
HELP MANAGE THEIR FINANCIAL MATTERS.  IN ADDITION, I CHALLENGE
SUPERVISORS TO OFFER ASSISTANCE TO AND MENTOR JUNIOR MEMBERS TO
HELP THEM ESTABLISH POSITIVE FINANCIAL MANAGEMENT PRACTICES.
9. COMMANDING OFFICERS AND OFFICERS-IN-CHARGE SHOULD ENSURE THAT
THIS INFORMATION IS MADE AVAILABLE TO ALL PERSONNEL AND THEIR
FAMILIES. BY STRESSING THE IMPORTANCE OF MAINTAINING FINANCIAL
READINESS TO UNIT PERSONNEL, AND USING UNIT LEADERS TO ESTABLISH A
SUPPORTIVE CULTURE, YOU CAN HELP MINIMIZE THE STRESS ASSOCIATED
WITH FINANCIAL PROBLEMS EXPERIENCED BY CG PERSONNEL.
10. QUESTIONS MAY BE DIRECTED TO MR. JOHN REIBLING AT 202-475-5161,
E-MAIL: JOHN.S.REIBLING(AT)USCG.MIL, OR MR. BOB SKEWES AT 202-475-
5140, E-MAIL: ROBERT.L.SKEWES(AT)USCG.MIL.
11. INTERNET RELEASE AUTHORIZED.
12. RADM CLIFFORD L. PEARSON, ASSISTANT COMMANDANT FOR HUMAN
RESOURCES, SENDS.
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