Army Financial Readiness

Friday, June 4, 2021

What is it?

The Army’s Financial Readiness program is a military life-cycle-based financial education and counseling program to bolster a Soldiers’ financial fitness throughout their career. The National Defense Authorization Act (NDAA) for Fiscal Year 2016 implemented a change in the military retirement plan instituting the Blended Retirement System (BRS) and required financial literacy training at personal and professional milestones in common military training (CMT) requirements across the military lifecycle.

What are the current and past efforts of the Army?

Engaged leadership and focused financial literacy training and education provides Soldiers and families the tools to secure a solid financial future. Financial Readiness Program efforts include:

  • EXORD 140-21, The Army Financial Literacy Training Program: provides implementing guidance, assigns responsibilities, and provides requirements for the organization, management, and implementation in accordance with CMT requirements.
  • Standardized curriculum, products, and course completion certificates to be utilized across the Total Force through distributed learning, face-to-face instruction, and /or group training. Additionally, standardized instruction will occur at specified institutional training and professional military education (PME) courses; course graduation will provide verification of completed training.
  • Distributed learning courses are displayed at Army Family Web portal on individual login.
  • Face-to-Face and group training being held at Family Support Centers.
  • Incorporated into institutional training such as Basic Combat Training (BCT), Basic Officer Leader Course (BOLC), and (PME).
  • Personal Financial Managers (PFM) and Personal Financial Counselors (PFC) deliver free, confidential in-person financial literacy training at installations.
  • Self-service financial literacy education and help available at Financial Frontline.

What continued efforts does the Army have planned?

The Army remains committed to raising financial literacy rates through education, training, and counseling by:

  • Providing financial education at all enlisted professional military education.
  • Changing the look and feel of content to make it an effective tool towards readiness, wellbeing, and family support.
  • Delivering financial education to ensure 100% compliance with the law while providing flexibility with a set of standardized products across the Total Force.

Why is this important to the Army?

Soldiers who are financially fit are better able to fulfill the duties of the mission and report greater family satisfaction. Increased financial management issues affects Army and Family readiness. Financial literacy training provides the pathway for sustaining financial well-being and resiliency with benchmarks of meeting all financial responsibilities, building wealth and obtaining a sound financial future, and a secure retirement.

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Focus Quote for the Day

Finances directly impacts readiness. If Soldiers can take care of their financial means, they can take care of their families and ultimately work performance will be better… if you care of the finances of your Soldiers, and you want them to succeed, not just in the Army, but in life… [financial readiness] is extremely important.

— Sergeant Major of the Army Michael A. Grinston, emphasizing the importance of financial literacy

SMA Talks: Financial Literacy, Episode #3