Fort Carson class first step toward understanding finances

By Scott Prater (Fort Carson)February 26, 2015

FORT CARSON, Colo. -- In today's economy, with continued rising costs for staples such as food, housing, entertainment and utilities, it can be easy for families to rack up debt, fall behind on payments or descend into financial hardship.

"Financial issues are one of the main precursors to disciplinary issues throughout our military," said Garrison Command Sgt. Maj. Clinton J. Reiss. "There are a slew of other problems that stem from financial issues, from marriage problems to alcohol abuse and other negative behaviors."

But, Soldiers and Families don't have to weave through life's financial mazes alone. The Army Community Service's Financial Readiness Program (FRP) can be a valuable ally in helping people develop sound financial practices.

Take, for example, the program's Iron Horse Budget Class. Offered free to Soldiers, Families and DOD card holders every Thursday from 9-11:30 a.m., this class teaches the fundamentals of budgeting with the goal of helping people discover where their money is going every month and how to best utilize their individual finances.

"This class is for everyone, but we focus on first-term Soldiers and Families," said Mary Braxton, Financial Readiness Program manager. "Many times, young Families are inexperienced with money management, so this is a first step toward gaining financial knowledge."

A certified financial counselor with the FRP teaches the class every week.

"This course doesn't change," said Dallas Shrawder, who often teaches the class. "So, people don't need to worry that they're diving into the middle of a course. It's an introduction to money management, and we like to think of it as the first tool in someone's financial toolbox."

Attendees should bring their Leave and Earnings Statement (pay stub for civilians) and their proverbial shoe box of monthly bills.

Once people attend the Iron Horse Budget Class they're on their way to understanding financial management. But, the learning doesn't stop there. Certified financial planners at the FRP also teach follow-up classes by appointment.

"After people obtain a good budget, we teach them where to place their money," Shrawder said. "We'll cover such topics as financial goal setting, investing and retirement planning."

Registration for the Iron Horse Budget Class is not required, but is recommended. People can register by calling 526-8747. Registration for follow-up classes and counseling are made by appointment.