This document provides financial management tips and resources for service members relocating to a new duty station. It outlines contingency plans like emergency savings funds and reserving money for upcoming expenses. Useful tips are given for preparing for the move such as having a garage sale, obtaining records, and stopping deliveries. The document also discusses paying bills on time, signs of credit trouble, improving credit scores, classes on topics like money management, home buying, and car buying. Contact information is provided for financial specialists.

1. MFP-R
Review Contingency
Plans
Marine & Family Programs • Emergency Savings-
– How much money do you need for emergency?
Resources – Income for life style (Mortgage/rent etc…)
• Reserve Savings-
Financially Planning – Known upcoming events (Appliances)
for a – Avoid unmanaged credit
Smooth Move
Financial Management Tips Useful Tips While Preparing for Relocation:
During Relocation:
 Have a garage sale – great way to liquidate unwanted toys,
furniture, appliances, plants etc
 Start to use things that you know you can’t take with you, like
frozen foods or hazardous/flammable materials
 Contact schools, doctors, dentists and veterinarians to obtain
copies of records
 Remember to, address those last minute “money
gobblers” that typically occur prior to departure :  Don’t forget any utility deposits or security deposits that may
be refundable if applicable
 Cleaning/maintenance of home/quarters
 Arrange a date to stop deliveries (newspaper, bottled water,
 Additional child care needs etc)
- Shop for best rates on car insurance
- Check Credit Report
 VERY important:
 Begin a PREDEPARTURE EXPENSE WORKSHEET
(Contact M&FP or Military OneSource)
Pay Bills on Time
 Make a list of friends, family, and…
CREDITORS who need to be informed of your pending Home address
move
City, State Zip
Utility Company
 Research options for transporting and temporarily boarding
pets PO Box 9999
Your City, State Zip
 If driving, prep vehicle for long distances and emphasis to
vehicle maintenance
Always update your information
when you move
1

2. Signs of Trouble
Direct Payments
1. Paying only minimums due
2. Requesting increased credit limits
3. Paying late or skipping payments
• Funds are automatically taken 4. Not knowing how much owed
from checking account to pay bills 5. Exceeding debt limits
6. Using debt consolidation loans
• NO LATE PAYMENTS! 7. Experiencing garnishment
Attend A Money Getting Back on Track
Management 1. Determine what you owe
Workshop 2. Focus on debt reduction
3. Contact creditors
4. Take on no new credit
Contact your nearest
5. See Financial Specialist
M&FP to sign up!
6. Avoid “credit clinics”
Your Debt to Income  Practical Financial Management Tips While
Preparing for Relocation:
Ratio  Comparative budget/spending plan (current versus
projected)
• More than 0 less than 15% Acceptable range
• 15% to 20% Fully extended credit  Intensify efforts to reduce debt
 Strive to be debt-free (PowerPay:
• 21% to 30% Over extended on credit https://powerpay.org/)
• More than 30% Serious credit risk  Powerpay –
 COLA ?
2

3. Credit Report Credit Scoring
YOUR CREDIT HISTORY:
THIS INFORMATION COMES FROM PUBLIC RECORDS 35% payment history
What’s In
OR ROM ORGANIZATION THAT HAVE GRANTED CREDIT
TO YOU. AN ASTERISK BY AN ACCOUNT INDICATES 30% outstanding debt
THAT THIS ITEM MAYBE REQUIRE FURTHER REVIEW BY
A PROSPECTIVE CREDITOR WHEN CHECKING YOUR 15% length of time you've had credit
Your Report?
CREDIT HISTORY. IF YOU BELIEVE ANY OF THE
INFORMATION IS INCORRECT, PLEASE LET US KNOW.
FOR YOUR CONVENIENCE, INSTRUCTIONS FOR 10% the number of inquiries
REINVESTIGATION ARE INCLUDED ON THE LAST PAGE
OF THIS REPORT. 10% types of credit you currently
have
Correcting Your Improve Your
Credit Report Credit Score
1. Correct any errors.
• Communicate in writing
2. Close any accounts you no longer use or need.
• Agency is required to investigate your 3. Reduce credit card balances to 75% or less of
challenge available credit (30% is preferable).
• Put in statement of 100 words or less if 4. Pay bills on time
you disagree
5. Don't let anyone make an inquiry on your credit
• If it’s your fault, only time will erase report unless you absolutely have to.
Car Buying
 Due diligence Attend a
 Know cost before you buy and don’t buy more
then you can afford!!
 Get pre-approved for how much you can borrow
Car Buying
 Insurance
 Maintenance, Gas Class
 Depreciation Value
 True Cost of purchasing a car
 Nada.com, KBB.com
Contact your nearest
SHOP AROUND! M&FP to sign up!
3

4. Smooth Move
Attend a
Practical Financial Management Tips During Relocation:
First Time VERY IMPORTANT:
Keep Records of all expenditures
Homebuyers
Class Emphasize: UNREIMBURSED EXPENSES
Unreimbursed moving expenses are tax deductions in
computing your AGI rather than your itemized tax
Contact your nearest deductions.
M&FP to sign up!
Smooth Move Financial Classes
Available:
 Practical Financial Management Tips During  Money Management Workshop
Relocation:
 Plan, Plan, Plan!!!
 First Time Home Buying
 Plan your travel route  Investment Workshop, Part I & II
 Plan for expenses while on leave  Credit Report and Score Analysis
 If traveling with children, add extra money for
 Thrift Savings Plan (TSP)
recreation/entertainment  Car Buying Workshop
 Plan for the unexpected!!  Financial Planning
Questions Contact Information
Marine & Family Programs – Resources
Camp Foster Bldg. 445 645-2104
Camp Kinser Bldg. 1220 637-2815
Camp Courtney Bldg. 4425 622-7332
Marine and Family Programs – Resources Camp Hansen Bldg 2339 623-4522
Financial Specialist
Anthony Green – 645-2104 Camp Schwab Bldg 3327 625-2622
Gene DeFreitas – 637- 2815
John Daskauskas – 623-4522 www.mccsokinawa.com
DISCLAIMER
Presentation of direct or indirect links to products, services or vendors does not constitute endorsement by the Department of Defense. We
www.facebook.com/pages/MCCS-Okinawa-Marine-
have provided links to these sites because they have information that may be of interest to our users. These links are presented for
informational purposes only.
Family-Programs-Resources/279800725441421
4