PFC offers free budgeting services

  • Published
  • By Master Sgt. Tammie Moore
  • 81st Training Wing Public Affairs
The holiday season has come and gone, and while some people are reminded of the passing holidays with photos, new clothes in their closets and toys laying on the living room floor, others are reminded with their credit card statement.

“When January arrives and the bills start rolling in, panic typically tends to ensue,” said Rose Janosik, Keesler Airman & Family Readiness Center community readiness specialist. “There are steps to recover from overspending during the holidays.”

The A&FRC personal financial counselors are available to help Dragons establish a plan of action to reach their debt reduction and saving goals.

“I would recommend someone who overspent set up an appointment to help get their budget back on track, work their way out of debt, increase their savings and make overall better financial choices for the upcoming year and beyond,” Janosik said. “Meeting with my clients is the best part of my job.”

The financial experts at the Keesler A&FRC believe sitting down and talking with someone can help put a financial situation into perspective.

“It’s always better to face financial concerns head-on because ignoring them only worsens the problem,” Janosik said. “If you’re going to be late on a loan payment, whether it’s your car, home or credit card, the best time to do something about it is before you become delinquent where it negatively affects your credit reports and score for years. Late fee and penalty interest rates have a way of spiraling out of control quickly.”

The Keesler financial expert’s free services are available to anyone with base access.

“There are many people who come see us and they have no financial problems,” Janosik said. “They just want to learn a little more, maybe do a little better or see exactly where they stand.”

Although The Military Lending Act was first enacted in 2006 and its aim was to provide protections against predatory lending practices targeted at U.S. service members, their spouses and dependents, one of the staff’s goals is ensure their customer’s know they have other options for paying bills than applying for payday loans.

“There are better options available to you and the A&FRC is able to educate you on those possible options,” Janosik said. “As originally adopted, the MLA capped interest rates at 36 percent and only applied to payday loans, vehicle title loans and tax refund anticipation loans. The situation changed dramatically last July with new regulations issued by Defense Department. Now a large group of creditors, along with a greatly expanded list of credit products, are covered by the Act. The payday loan services charge a much higher interest rate than that, typically with an annual percentage rate between 400 and 500 percent.”

Individuals who are in a bind paying for emergency travel or to cover basic living, vehicle, child care or medical expenses may qualify for an Air Force Falcon Loan.

“Falcon Loans are streamlined emergency assistance to meet needs of $750 or less,” Janosik said. “The loan is normally repaid within 10 months or by the member’s separation date if less than 10 months. Falcon Loans are not intended to be a ‘bandage’ to someone’s financial situation but a means to help them recover from a situation and get back on track.”

If an individual’s needs exceed the maximum for a Falcon Loan, or is for other purposes they should request assistance using the standard emergency assistance application.

“Our clients are always glad they made an appointment because they have a better understanding of their spending habits and how they may be able to improve in areas,” Janosik said. “I think they leave here happy.”

The Military Family Life program also has a personal financial counselor on staff with an office in the Bay Breeze Event Center, in Room 141.

“Just as with the MFL program, the PFC services are free and strictly confidential,” said Liza Wilson, MFL personal financial counselor. “There are no notes taken or records kept and no information regarding the client or the counseling session is inputted into any government system. It is all strictly confidential.”

This service is available to all branches of service, active duty, Reserve, guard, family members and service members who have recently retired within the last 180 days.

“The MFL counselor is able to meet with service members and families in any public place where they feel most comfortable,” Wilson said. “The meeting doesn’t have to be on base.”

The A&FRC community readiness specialists maintain two offices on base. The main facility is located at the Sablich Center and there is also an annex at the Levitow Training Support Facility for non-prior service Airman.

“To prepare for an appointment they’ll need to bring in their end of month Leave and Earning Statement, know their creditors, monthly payments, balances, and if they are behind, how much and for each,” Janosik said. “Then we’ll go from there.”

For more information or to schedule an appointment with an A&FRC councilor, call 228-376-8728.
To schedule an appointment with an MFL councilor, stop by the BBEC or call 228-213-0172 or email PFC.Keesler.USAF@Zeiders.com.