Federal and Navy programs can help Sailors and their families navigate potential financial pitfalls. Personal financial preparedness is an important element of readiness. Financial matters such as failure to pay bills, bad credit, bankruptcy and foreclosures can negatively impact a Sailor's career. Sailors experiencing financial challenges should notify their chain of command and work with their command financial specialists (CFS) to development a budget and explore additional options such as military relief societies, eligibility for interest rate reductions and other relief.
For more personal finance tips, visit the Military.com Money Center.