JOINT BASE SAN ANTONIO-RANDOLPH, Texas –
Managing money, especially in troubling economic times, can be a difficult task for many people. However, the military offers members and their families, civilian employees and retirees various classes and one-on-one counseling sessions to help make wise financial decisions.
Community readiness consultants at Joint Base San Antonio-Randolph Military and Family Readiness Center have begun a four-part series of monthly classes. These classes and counseling sessions are provided on a regular basis and teach participants the basics of financing, from budgeting to vehicle purchasing.
The first class, "Basic Budgeting," was offered last week. "Take a Bite Out of Your Credit Cards and Debt," is scheduled Nov. 19, 9-10:30 a.m at the Military and Family Readiness Center. The other two classes, "Credit Score: What is It?" and "Car Buying," are scheduled for December and January. This series will be offered on a rotating basis.
"After discussions with first sergeants, we prioritized these classes because that's what they thought people would benefit from the most," Criselda Smith, 902nd Force Support Squadron community readiness consultant, said.
Basic budgeting gave participants the basic financial tools they need and teaches them how to create a spending plan to fit their needs using computer software, Smith said.
The class, dealing with credit cards and debt, discussed annual percentage rates, principal, interest and how people can bring down their high-interest credit card debt.
"Many people don't understand APRs and interest rates. So, when they see how much they're paying in interest, they're shocked," Smith said.
Smith said some active-duty members, especially younger Airmen, make the mistake of seeking loans from "predatory" lenders who charge exorbitant interest rates.
Brian Kenefick, 902nd FSS community readiness consultant, said a much better choice would be to apply for a loan through the Air Force Aid Society, which is represented at the Military and Family Readiness Center.
"Airmen are much better off getting help from us because the reason we're here is to look out for their best interests," he said.
In the credit score class, participants will learn what a credit score is, how to interpret their credit score and how it affects all aspects of their lives.
Smith said, credit scores are especially important for active-duty members as they are factored into the security clearance process.
The car-buying class helps prepare participants to deal with car dealership salesmen, Smith said.
For more information, call 652-5321.